Aviation Lubricants Market by Product (Hydraulic Fluid, Gas Turbine Oil, Piston Engine Oil, Others), Technology (Synthetic, Mineral-Based), End-Use (Defense, Civil, Space), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

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The global aviation lubricants market is expected to grow from USD 2.17 billion in 2020 to USD 3.54 billion by 2028, at a CAGR of 6.3% during the forecast period 2021-2028. 

Lubricants play a vital role in the proper operation of various airplane systems & components, notably the rotating ones. Nowadays, modern aircraft engines go up to much higher temperatures than older ones; hence aviation lubricant manufacturers are advancing their technology to keep up with market demands. Turbine oils have to function correctly in temperatures as high as 200 °C.The military and commercial airplane fleets of different countries across the globeareexpanding. Expansion of aircraft fleet sizes has been observed in the commercial aviation sector, including wide-body aircraft,regional transport aircraft,narrow-body aircraft, and very large aircraft, in many countries.

This study delivers a comprehensive analysis of products, technologies, end-uses, and regions. The research includes growth drivers as well as challenges prevalent in the global aviation lubricants market, along with the impact they will have on the overall demand during the forecasted period. Additionally, the study also includes various opportunities & threats that are present in the aviation lubricants market. The product segment consists of hydraulic fluid, gas turbine oil, piston engine oil, and others. The hydraulic fluid segment dominated the market and held the largest share of the market at 32.54% in the year 2020.Based on technology, the global market has been segmented into synthetic and mineral-based. The mineral-based segment held the majority share of the market at 55.7% since mineral-based lubricants are relatively cheaper than synthetic ones.On the basis of end-use, the aviation lubricants market has been divided into defense, civil, and space. The defense segment is expected to grow at the highest CAGR of 7.0% owing to factors like rising geopolitical tensions & cross border conflicts, countries purchasing new military aircraft to upgrade aging fleets, and increasing terror attacks around the world.

The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. With increasing air traffic in the region, the Asia-Pacific region stands as a promising market for aviation lubricants and is expected to grow at the highest CAGR during the forecast period.

Some of the notable players in the aviation lubricants market are Tecsia Lubricants, Royal Dutch Shell, Petro Lubes Inc., ExxonMobil Corporation, Lukoil, BP, Eastman Chemical Company, Las Aerospace Ltd, Ascend Aviation India, and The Chemours Company, among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global aviation lubricants industry. 

This study predictsrevenue growth at global, national, and country levels from 2021 to 2028. Fior Markets has segmented the market based on the below-mentioned segments:

Global Aviation Lubricants Market Analysis and Forecast, By Product

  • Hydraulic Fluid
  • Gas Turbine Oil
  • Piston Engine Oil
  • Others

Global Aviation Lubricants Market Analysis and Forecast, By Technology

  • Synthetic
  • Mineral-Based

Global Aviation Lubricants Market Analysis and Forecast, By End-Use

  • Defense
  • Civil
  • Space

Global Aviation Lubricants Market Analysis and Forecast, By Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Sweden
    • Netherland
    • U.K.
    • Italy
    • Spain
    • Turkey
    • Switzerland
    • Belgium
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest Of APAC
  • South America
    • Brazil
    • Argentina
    • Peru
    • Colombia
    • Rest of South America
  • Middle East and Africa
    •  UAE
    •  Saudi Arabia
    •  Egypt
    •  Nigeria
    •  South Africa
    • Rest Of MEA

Report Description:

  • The base year for the study has been considered 2020, historic year 2018 and 2019 and, the forecast period considered is from 2021 to 2028.
  • The study delivers a comprehensive analysis of the global aviation lubricants market by products, technologies, end-uses, and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2021 to 2028.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the global aviation lubricants market. This report incorporates the industry analysis which is focused on providing an extensive view of the aviation lubricants market.
  • The study also includes attractiveness analysis of products, technologies, end-uses, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the aviation lubricants market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product
          4.3.2. Market Attractiveness Analysis By Technology
          4.3.3. Market Attractiveness Analysis ByEnd-Use
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends
5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Lower ticket prices
    5.3. Restraints
          5.3.1. Air travel ban due to covid-19 lockdown
    5.4. Opportunities
          5.4.1. Higher defense expenditure on air forces worldwide
6. Global Aviation LubricantsMarket Analysis and Forecast, By Product
    6.1. Segment Overview
    6.2. Hydraulic Fluid
    6.3. Gas Turbine Oil
    6.4. Piston Engine Oil
    6.5. Others
7. Global Aviation Lubricants Market Analysis and Forecast, By Technology
    7.1. Segment Overview
    7.2. Synthetic
    7.3. Mineral-Based
8. Global Aviation Lubricants Market Analysis and Forecast, ByEnd-Use
    8.1. Segment Overview
    8.2. Defense
    8.3. Civil
    8.4. Space
9. Global Aviation Lubricants Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa
10. Global Aviation Lubricants Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Aviation Lubricants Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Products, Launches and Developments
          10.3.2. Partnerships Collaborations and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions
11. Company Profiles
    11.1. Tecsia Lubricants
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Royal Dutch Shell
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Petro Lubes Inc
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. ExxonMobil Corporation
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Lukoil
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. BP
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Eastman Chemical Company
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Las Aerospace Ltd
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Ascend Aviation India
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. The Chemours Company
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

2. Global Hydraulic Fluid, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

3. Global Gas Turbine Oil, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

4. Global Piston Engine Oil, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

5. Global Others, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

6. Global Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

7. Global Synthetic, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

8. Global Mineral-Based, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

9. Global Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

10. Global Defense, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

11. Global Civil, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

12. GlobalSpace, Aviation Lubricants Market, By Region, 2020-2028(USD Billion) 

13. North America Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

14. North America Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

15. North America Aviation Lubricants Market, By End-Use2020-2028(USD Billion) 

16. U.S. Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

17. U.S. Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

18. U.S. Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

19. Canada Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

20. Canada Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

21. Canada Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

22. Mexico Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

23. Mexico Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

24. Mexico Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

25. Europe Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

26. Europe Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

27. Europe Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

28. Germany Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

29. Germany Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

30. Germany Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

31. France Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

32. France Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

33. France Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

34. U.K. Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

35. U.K. Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

36. U.K. Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

37. Italy Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

38. Italy Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

39. Italy Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

40. Spain Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

41. Spain Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

42. Spain Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

43. Asia Pacific Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

44. Asia Pacific Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

45. Asia Pacific Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

46. Japan Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

47. JapanAviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

48. JapanAviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

49. China Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

50. China Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

51. China Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

52. India Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

53. India Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

54. India Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

55. South America Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

56. South America Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

57. South America Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

58. Brazil Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

59. Brazil Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

60. Brazil Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

61. Middle East and Africa Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

62. Middle East and Africa Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

63. Middle East and Africa Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

64. UAE Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

65. UAE Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

66. UAE Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

67. South Africa Aviation Lubricants Market, By Product, 2020-2028(USD Billion) 

68. South Africa Aviation Lubricants Market, By Technology, 2020-2028(USD Billion) 

69. South Africa Aviation Lubricants Market, By End-Use, 2020-2028(USD Billion) 

List of Figures 

1. Global Aviation Lubricants Market Segmentation

2. Global Aviation Lubricants Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Aviation Lubricants Market Attractiveness Analysis By Product

9. Global Aviation Lubricants Market Attractiveness Analysis By Technology

10. Global Aviation Lubricants Market Attractiveness Analysis By End-Use

11. Global Aviation Lubricants Market Attractiveness Analysis By Region

12. Global Aviation Lubricants Market: Dynamics

13. Global Aviation Lubricants Market Share by Product (2020 &2028)

14. Global Aviation Lubricants Market Share by Technology (2020 &2028)

15. Global Aviation Lubricants Market Share by End-Use (2020 &2028)

16. Global Aviation Lubricants Market Share by Regions (2020 &2028)

17. Global Aviation Lubricants Market Share by Company (2020)

Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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Testimonials

Hi John,
Thanks for the report. We've been going through it and see some good data on the market and players. –

Kennedy Brown
Health Technology Innovation
United States

Hi Rahul,
Thank You for the report it is good and beneficial for me.
Thank You in Advance

Mika Salomäki

Dear Siddhartha,
Thank you for your fast reply. The report arrived safe and sound, evrything looks all right.
Thank you very much for your assitance and I will be looking forward to another opportunity for cooperation.

ONDŘEJ ŠUPKA
Analytics Department
ČESKÁ ZBROJOVKA A.S.

Dear Siddhartha,
The report looks good, and we believe the material mix is more realistic now. It is good to know you report “Net” Manufacturing Selling Price, as that can make a difference in how we view the numbers. The reports were great and we appreciate your working with us.
Thanks for all your help!

Karen Richwine
Director Marketing Operations
The AMES Companies, Inc.

Hi Siddhartha-san,
Many thanks for sending trade map with final report.
Best regards,

Atsushi Kaneko
Maritime Business Sect.
Aviation & Maritime Business Dept.
Sumitomo Mitsui Finance and Leasing Co.,Ltd

Hello Sapna,
Thanks for the report. We've been going through it and see some good data on the market and players.

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