Global Aerospace Bearings Market
Global aerospace bearings market was valued US$ 7.92 Bn in 2019 and is expected to reach US$ 13.0 Bn by 2026, at a CAGR of 6.39 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Aerospace bearings are installed in aircraft & aerospace systems containing commercial, private, military, and space applications.
The rise in the number of aircraft deliveries, upgradation of aircraft to reduce operating cost are boosting the growth of the global aerospace bearings market. The key opportunity of the market is the rising use of fiber-composite & thermoplastic bearings. Delay in earning quality accreditations is the main challenge of the market. However, increasing raw material cost and high R&D funds are limiting the growth of the market.
The roller segment of the aerospace bearings market is expected to grow at the highest CAGR during the forecast period owing to the use of roller bearings in maximum parts of an aircraft, which is supported by increased demand for aircraft during the forecast period. The ball bearing is used widely throughout aircraft airframe & engine design. Ball bearings are the most versatile and flexible.
The flight control system segment is projected to grow at the highest CAGR during the forecast period owing to the rise in aircraft orders & deliveries across the globe. An aerostructure is a part of an aircraft's airframe and contains all part of the fuselage, wings, and flight control surfaces.
The fiber-reinforced composites segment is estimated to grow at the highest CAGR during the forecast period owing to greater load carrying and self-lubricating capacity resulting in rising reliability of bearings under harsh situations.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to the growing air passenger traffic in emerging economies in the region. Aircraft manufacturers in countries such as Russia, Japan, and China are entering the global market with modernized and high-tech aircraft is also boosting the growth of the global aerospace bearings market in the region.
Key player operating in the global aerospace bearings market are Enpro Industries, Inc. (GGB Bearings Technology), National Precision Bearing, SKF Group, JTEKT Corporation, RBC Bearings Inc., Aurora Bearing Company, Pacamor Kubar Bearings, The Timken Company, AST Bearings LLC, New Hampshire Ball Bearings, Inc., NTN Corporation, Kaman Corporation, Rexnord Corporation, Schaeffler Group, NSK Ltd., and Regal Beloit Corporation.
The report covers a comprehensive study of major market drivers, restrains, opportunities, challenges, PESTEL, Porters, SWOT, and technological forecasting in the market.
The Scope of Global Aerospace Bearings Market:
Global Aerospace Bearings Market, by Type:
• Roller
• Ball
• Other Type
Global Aerospace Bearings Market, by Material:
• Stainless Steel
• Fiber-reinforced Composites
• Metal-backed
• Engineered Plastics
• Aluminum Alloys
• Other Material
Global Aerospace Bearings Market, by Application:
• Landing Gear
• Engine
• Flight Control System
• Aerostructure
• Other Application
Global Aerospace Bearings Market, by Aircraft Type:
• Narrow Body Aircraft
• Wide Body Aircraft
• Regional Transport Aircraft
• Very Large Aircraft
• Business Jet
• Fighter Jet
• Helicopter
• Others
Global Aerospace Bearings Market, by Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Key Player Operating In the Global Aerospace Bearings Market:
• Enpro Industries, Inc. (GGB Bearings Technology)
• National Precision Bearing
• SKF Group
• JTEKT Corporation
• RBC Bearings Inc.
• Aurora Bearing Company
• Pacamor Kubar Bearings
• The Timken Company
• AST Bearings LLC
• New Hampshire Ball Bearings, Inc.
• NTN Corporation
• Kaman Corporation
• Rexnord Corporation
• Schaeffler Group
• NSK Ltd.
• Regal Beloit Corporation
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