According to a new market report published by Lucintel, the future of the aerospace maintenance chemical market looks stable with opportunities in commercial, regional jet, general aviation, helicopter, and military aircraft segments. The global aerospace maintenance chemical market is forecast to grow at a CAGR of 1.1% from 2016 to 2021. The major growth drivers of this market are increasing aircraft fleet, increase in flight frequency, and need for maintenance chemicals during various maintenance checks. It is expected that with increase in passenger traffic, air travel is increasing which creates positive growth during the forecast period.
In this market, deicing/anti-icing fluids, lubricant and cleaning agent maintenance chemicals are used in the aircraft. Lucintel predicts that the demand for cleaning agent segment is likely to experience the highest growth in the forecast period due to regular and mandatory maintenance checks and cleaning requirements. On the basis of its comprehensive research, Lucintel forecasts that the lubricant segment is expected to be the largest market due to its various properties that improves the efficiency of various aircraft components.
Within the lubricant segment, hydraulic fluid segment in the aerospace lubricant market is expected to experience the highest growth during the forecast period. It is used in all the types of aircraft, turbine powered or piston aircraft. On the basis of its comprehensive research, Lucintel forecasts that the turbine oil is expected to remain the largest segment by product type because it is used in most of the aircraft that are turbine-powered.