Aerospace Bearing Market is Estimated to Register a CAGR of 7.35% Over 2024.
The key players in the global aerospace bearing market are SKF Group (Sweden), JTEKT Corporation (Japan), RBC Bearings Inc. (US), NSK Ltd (Japan), The Timken Company (US), GGB Bearings Technology (US), Aurora Bearing Company (US), Schaeffler Technologies AG & Co. KG (Germany), National Bearing Precision (US), and NTN Corporation (Japan).
The growth of the global market for aerospace bearings is largely driven by the increasing number of aircraft deliveries. Air traffic is growing in developed as well as developing nations which is leading to an enhanced demand for more aircraft. This has led aircraft manufacturers and aircraft engine manufacturers to procure bearings for various applications. Moreover, the need to modernize the older aircraft with new, reliable, and latest technologies is fueling the growth of the global market for aerospace bearings.
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- Aerospace bearing manufacturers
- Defense organizations
- Bearing suppliers
- Research institutes
- Regulatory bodies
The global Aerospace Bearing Market has been segmented based on type, material, platform, application, and region.
On the basis of type, the market has been segmented into roller bearing, ball bearing, and others. The roller bearing segment accounted for the largest share due to the roller bearings being utilized in various aerospace applications. The ball bearing segment is expected to register the fastest growth during the forecast period.
On the basis of application, the market has been segmented into engine, flight control systems, aerostructure, landing gear, and others. The engine segment of the market is expected to register the highest growth rate during the forecast period due to the wide use of bearings in the engine and its sub-components in commercial and military aircraft. Whereas, aerostructure is expected to be the fastest growing segment during the forecast period.
Based on platform, the market has been classified as commercial and military. The commercial segment is expected to grow at a higher rate and account for the larger share during the forecast period due to rise in air traffic and MRO services.
By material, the market has been segmented into stainless steel, fiber-reinforced composites, engineered plastics, aluminum alloys, and others. The aluminum alloys segment is expected to register the highest growth rate owing to the lightweight, durable, and efficient qualities of aluminum alloy bearings. The stainless-steel bearing segment is projected to garner the largest share during the forecast period.
The global aerospace bearing market has been segmented, based on region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The North American market is expected to account for the largest share of the global aerospace bearing market. The leading countries in this region are the US and Canada. The US government is investing heavily in the research and development of aerospace bearings for civil engineering and defense applications to increase the accuracy of operations, reduce operational time, and decrease the risk factors involved. The rise in the number of aircraft and the aftermarket parts would propel the growth of the aerospace bearing market in the region during the forecast period. The market in Asia-Pacific is expected to be the fastest-growing during the forecast period due to the rise in the number of commercial aircraft fleet.
- Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
- Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America, along with the key countries in each region
- Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
- Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
- Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
- Regional attractiveness and related growth opportunities
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List of Tables
Table 1 Global Aerospace Bearing Market, by Region, 2019–2024
Table 2 North America: Aerospace Bearing Market, by Country, 2019–2024
Table 3 Europe: Aerospace Bearing Market, by Country, 2019–2024
Table 4 Asia-pacific: Aerospace Bearing Market, by Country, 2019–2024
Table 5 Middle East & Africa: Aerospace Bearing Market, by Country, 2019–2024
Table 6 Latin America: Aerospace Bearing Market, by Country, 2019–2024
Table 7 Global Aerospace Bearing Market, by Platform, 2019–2024
Table 8 North America: Aerospace Bearing Market, by Platform, 2019–2024
Table 9 Europe: Aerospace Bearing Market, by Platform, 2019–2024
Table 10 Asia-pacific: Aerospace Bearing Market, by Platform, 2019–2024
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Aerospace Bearing Market Share, by Platform, 2019 (%)
Figure 9 Global Aerospace Bearing Market, by Platform, 2019–2024 (Usd Million)
Figure 10 Global Aerospace Bearing Market Share, by Application, 2019 (%)
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