Aerospace Bearings Market worth $14.7 billion by 2026 at a CAGR of 8.9%

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Aerospace Bearings Market worth 14.7 billion by
2026 at a CAGR of 8.9 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.marketsandmarkets.com/pdfdownloadNew
.asp?id191707655 Based 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 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-
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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 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
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world. The presence of many high-net-worth
individuals has boosted the demand for business
jets and light aircraft. Key Market Players 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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