Aerospace Bearings Market Growing at the Fastest Rate in Asia Pacific and Middle East regions

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Market Pacific and Middle East
Aerospace
Bearings
Growing at the
Fastest Rate in Asia regions
The report "Aerospace Bearings Market by Type
(Ball Bearing, Roller Bearing, Plain Bearing),
Material (Metal, Metal Polymer Engineered
Plastic, Fiber Reinforced Plastic, Ceramic),
Application, Platform, Sales Channel, Region -
Global Forecast to 2026", is projected to grow
from USD 9.6 billion in 2021 to USD 14.7 billion
by 2026, at a CAGR of 8.9 from 2021 to 2026. The
rise of the global space sector,
technological innovations, and sustained growth
of the defense sector are the key factors driving
the aerospace bearings markets growth. The
increasing focus on a greener aerospace sector
and its impact on the bearing supply chain are
expected to create a demand for aerospace
bearings. The aerospace bearings market has been
growing at a significant rate, and this trend is
expected to continue during the forecast
period. Download PDF Brochure _at_ https//www.marke
tsandmarkets.com/pdfdownloadNew.asp?id191707655 B
ased on type, the ball bearing segment is
held the leading share of the aerospace
bearings market during the forecast period. Based
on type, the aerospace bearings market has been
segmented into ball bearing, roller bearing,
plain bearing, and others. Bearings are
devices used to enable rotational or linear
movement while reducing friction and handling
stress. Resembling wheels, bearings literally
enable devices to roll, which reduces the
friction between the surface of the bearings and
the surface they are rolling over. Collectively
ball bearings roller bearings together held the
majority share of the aerospace bearings market
in 2020 as they find applications in multiple
areas ranging from engines and cockpit controls
to landing gears and aerostructures. Based on
material type, the metal segment is projected to
lead the aerospace bearings market from 2021 to
2026. Based on material type, the aerospace
bearings market has been segmented base on
material into metal, metal polymer engineered
plastic, fiber reinforced plastic, and
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ceramic. the metal segment held the largest share
of the aerospace bearings market in 2020.
Traditionally bearings are made from stainless
steel metal due to the cost- effective nature and
durability of the metal. However, the fiber
reinforced composite and ceramic segments are
anticipated to record high growth during the
forecast period due to the increasing demand for
lightweight and environmentally friendly
products. Based on application, the cockpit
control and aerostructure segment is projected to
grow at a high CAGR during the forecast
period. Based on application, the aerospace
bearings market is segmented under landing gear,
cockpit control, aerostructure, aircraft systems,
engine APU, door and aircraft interiors. The
cockpit control and aerostructure segment is
projected to record highest growth during the
forecast period. The aerostructure refers to the
body of an aircraft. The aerostructure is
required to have an optimal proportion of the
weight of the vehicle and payload. It needs to be
strong enough to withstand 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 external outside rolling rings
designed to run along profiles or cams. Based on
platform, the fixed wing segment is projected to
grow at the highest CAGR during the forecast
period. Based on platform, the aerospace bearings
market has been segmented into fixed wing, rotary
wing, and unmanned aerial vehicle. The fixed wing
segment is projected to record highest growth
during the forecast period owing to demand for
new fixed wing aircraft is expected to increase
in the coming years due to the growing air
passenger traffic and replacement of aging
aircraft. Asia Pacific and the Middle East are
expected to witness high growth in the aviation
industry on account of increasing disposable
income in these regions. Based on sales channel,
the aftermarket segment held the majority share
of the aerospace bearings market from 2021 to
2026. Based on sales channel, the aerospace
bearings market has been segmented into OEM and
aftermarket. In 2020, Aftermarket segment
accounted for the dominating share of the global
aerospace bearings market. Increasing safety
regulations is propelling the maintenance checks
of the aircrafts. Bearings which have wear
tear nature contribute to high replacement
demand. The Asia Pacific and Middle East
regions are projected to be high growth
potential markets for the aerospace bearings
market during the forecast period. The aerospace
bearings market in the Middle East region is
expected to witness substantial growth and
register the highest CAGR during the forecast
period. The Middle East had increased its share
of cargo air traffic from 3 in 1999 to 14 in
2020. The freight fleets and transport carriers
are anticipated to record exponential
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growth in the region, thereby boosting the
aerospace bearings market. The general 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 boosted the
demand for business jets and light aircraft. SKF
(Sweden), JTEKT Corporation (Japan), Schaeffler
AG (Germany), The Timken Company (US), RBC
Bearings Inc. (US), and NSK Ltd. (Japan), are the
leading players operating in the aerospace
bearings market. These players have adopted
various growth strategies such as contracts,
agreements, acquisitions, expansions, new
product launches, partnerships certifications,
investments, venture capital funding, and
research development (RD) activities to
further expand their presence in the aerospace
bearings market. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id191707655
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