DUBLIN, May 25, 2021 / PRNewswire / – The “Aerospace Bearing Market by Type (Ball Bearing, Roller Bearing, Plain Bearing), Material (Metal, Metallic Polymer & Engineered Plastic, Fiber-Reinforced Plastic, Ceramic), Application, Platform, Sales Channel, Region – Global forecasts until 2026 “ the report was added to ResearchAndMarkets.com from offer.
The aerospace bearings market is expected to grow from 9.6 billion USD in 2021 to 14.7 billion USD by 2026, at a CAGR of 8.9% from 2021 to 2026.
The growth of the aerospace bearings market can be attributed to the expansion and growth of the aviation industry in developing countries. Growing global passenger air traffic and increasing aircraft movements are driving sales of aerospace bearings. Companies operating in this market are focusing on lightweight and fuel efficient solutions and investing more in materials technology to develop ceramic and hybrid bearings.
The sudden outbreak of COVID-19 has wreaked havoc in various industrial sectors, with aviation being one of the most affected. Nationwide lockdowns due to the pandemic have affected all regions, with air travel restrictions impacting domestic and international flights. Significant slowdowns are also observed in the transport of non-essential goods and in distribution chains, reducing industrial activities. This could impact sales of various types of aircraft as well as MRO’s demand for components such as bearings.
Due to the slowdown in global economic growth, the aeronautical bearings market has also suffered some impact. The COVID-19 crisis is negatively impacting most of the major players in the aerospace bearings market. Emerging regions such as Africa and Latin America suffered severe blows due to COVID19. In Africa, around 5 million of the 7 million jobs associated with the continent’s aerospace and tourism industry were lost in 2020, in addition to as far as $ 15 billion revenues, half of which to African airlines. Lockout restrictions and low demand have resulted in production cuts at aerospace bearing manufacturers. The Aerospace Bearings Market 2020 is estimated to witness a significant decline in market value. The global aerospace bearings market is expected to register steady growth from 2022 as the favorable winds of the pandemic dissipate.
On the basis of type, the ball bearings segment occupies the first place in the aerospace bearings market during the forecast period.
Based on type, the aerospace bearing market has been segmented into ball bearings, roller bearings, plain bearings, and others. Bearings are devices used to allow rotational or linear motion while reducing friction and handling stresses. Resembling wheels, bearings literally allow devices to roll, reducing the friction between the surface of the bearings and the surface on which they roll. Together, ball bearings and roller bearings together held the majority share of the aerospace bearing market in 2020 as they find applications in multiple areas ranging from engines and cockpit controls to landing gear and aerostructures.
Based on the material type, the metal segment is expected to dominate the aerospace bearings market from 2021 to 2026.
Based on material type, the aerospace bearings market has been segmented on the basis of material of metal, metallic polymer and engineering plastic, fiber reinforced plastic and ceramic. the metal segment held the largest share of the aerospace bearing market in 2020. Traditionally, bearings are made from stainless steel metal due to the cost effective nature and durability of metal. However, the fiber reinforced composites and ceramics segments are expected to register strong growth during the forecast period due to the increasing demand for lightweight and environmentally friendly products.
According to the application, the cockpit controls and aerostructures segment is expected to grow at a high CAGR during the forecast period.
On the basis of application, the aerospace bearings market is segmented under Landing Gear, Cockpit Control, Aerostructure, Aircraft Systems, Engines & APUs, Door Interiors and of planes. The cockpit controls and aerostructures segment is expected to register strong growth during the forecast period. Aerostructure refers to the body of an aircraft. The aerostructure must have an optimum ratio of vehicle weight and payload. It must be strong enough to withstand the exceptional circumstances in which it must operate, and durability is an important factor. Track roller bearings are typically used in aircraft structures. Track roller bearings are bearings with suitable outer rolling rings designed to move along profiles or cams.
On a platform basis, the fixed wing segment is expected to grow at the highest CAGR during the forecast period.
On the basis of the platform, the aerospace bearings market has been segmented into fixed-wing, rotary-wing and unmanned aerial vehicles. The fixed-wing aircraft segment is expected to register the highest growth during the forecast period owing to the demand for new fixed-wing aircraft which is expected to increase in the coming years due to the increase in air passenger traffic. and the replacement of aging aircraft. the Asia Pacific and the Middle East are expected to experience strong growth in the aviation industry due to the increase in disposable income in these regions.
On the basis of sales channel, the aftermarket segment held the majority share of the aerospace bearings market from 2021 to 2026.
On the basis of sales channel, the aerospace bearings market has been segmented into OEM and aftermarket. In 2020, the aftermarket segment accounted for the dominant share of the global aerospace bearings market. The increase in safety rules propels the maintenance checks of the aircraft. Bearings that have a wear nature contribute to a high demand for replacement.
the Asia Pacific and the Middle East The regions are expected to be high growth potential markets for the aerospace bearings market during the forecast period.
The aerospace bearing market in the Middle East The region is expected to experience substantial growth and register the highest CAGR during the forecast period. the Middle East had increased its share of air freight traffic from 3% in 1999 to 14% in 2020. Freight fleets and carriers are expected to grow exponentially in the region, thereby stimulating the aerospace bearings market. The general and business aviation industry in the Middle East is one of the most developed in the world. The presence of many high net worth individuals has stimulated demand for business and light aircraft.
Main topics covered:
2 Research methodology
3 Executive summary
4 premium information
4.1 Attractive Growth Opportunities in the Aerospace Bearings Market
4.2 Aerospace Bearings Market, by Sales Channel
4.3 North America: OEM Aerospace Bearings Market, By Application
4.4 Europe: OEM Aerospace Bearings Market, By Country
4.5 Aerospace Bearings Market, by Region
4.6 Aerospace Bearings Market, By Material
4.7 Asia Pacific: Aerospace Bearings Secondary Market, By Country
4.8 Europe Aerospace Bearings Market, by Sales Channel
5 Market overview
5.2 Market dynamics
220.127.116.11 Growing Fleet of Commercial and Combat Aircraft to Drive the Aerospace Bearing Aftermarket
18.104.22.168 Sustained growth of the defense sector leading to an increase in the delivery of military aircraft
22.214.171.124 Impact of counterfeiting
126.96.36.199 High cost of raw materials
188.8.131.52 Focus on a greener aerospace sector and its impact on the bearing supply chain
184.108.40.206 Delay in obtaining accreditations
220.127.116.11 Dependence on the military budget
18.104.22.168 Cyclicality of OEM activities
5.3 Average selling price
5.4 Supply chain analysis
5.5 Map of the market ecosystem
5.6 disruption impacting aerospace customer operations
5.7 Porter’s five forces analysis
5.8 Trade data statistics
5.9 Pricing and regulatory landscape
5.10 Case study
5.11 Technological trends
5.12 Volume analysis
5.13 Range / Scenarios
5.14 Impact of COVID-19
6 industry trends
7 Aerospace Bearings Market, by Sales Channel
8 Aerospace Bearings Market, By Platform
9 Aerospace Bearings Market, By Type
10 Aerospace Bearings Market, By Application
11 Aerospace Bearings Market, By Material
12 Space Application Bearings Market
13 Regional analysis
14 Competitive landscape
15 company profiles
15.1 Key players
15.1.1 NTN Corporation
15.1.4 NSK Ltd.
15.1.5 Jtekt Corporation
15.1.6 National Precision Bearing
15.1.7 Rbc Bearings, Inc.
15.1.8 Aurora Tier
15.1.9 Pacamor Kubar bearings
15.1.10 Ast Bearings LLC
15.1.11 Kaman Corporation
15.1.12 Regal Beloit Corporation
15.1.13 The Timken Company
15.1.14 Schaeffler Ag
15.1.15 Nachi-Fujikoshi Corp.
15.1.16 Minebeamitsumi Inc.
15.1.17 Lyc Bearing Corporation
15.1.18 Schatz Bearing Corporation
15.1.19 Barden bearings
15.1.20 Radial Bearing Corporation
15.1.21 Csc Bearing Europe GmbH
15.1.22 Alpine bearing
16.1 Discussion guide
16.2 Knowledge Store: subscription portal
16.3 Available customizations
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