Aerospace Bearings Market Witness the Growth of $14.7 Billion by 2026

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Aerospace Bearings Market Report by Industry,
Trend and Global Forecast (2021-2026) According
to the latest market research report the
Aerospace Bearing Market is projected to grow
from USD 9.6billion in 2021 to USD 14.7billion by
2026, at a CAGR of 8.9 from 2021 to 2026. The
report on the aerospace bearings market provides
an analysis of the market from 2017 to2026. It
discusses industry and technology trends
currently prevailing in the market, along with
drivers, restraints, challenges, and
opportunities that influence the growth of the
market. The aerospace bearings market in the
Asia Pacific region is expected to witness the
highest growth during the forecast period due to
the expansion of the aviation sector in the
region. Increasing air passenger traffic in Asia
Pacific region is boosting the demand for the
development or procurement of new aircraft.
Bearings are essential components facilitating
the working of all kinds of aircraft. Hence, the
increasing demand for new aircraft in APAC is
expected to stimulate the aerospace bearings
market during the forecast period. 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. Download PDF
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ownloadNew.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
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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- 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
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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 world. The presence of many
high-net-worth individuals has boosted the demand
for business jets and light aircraft. Ask for
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