Aerospace Bearings Market Emerging Trends Analysis by 2026

1
Aerospace Bearings Market Growth to Surpass USD
14.7 Billion by 2026
According to the latest market research 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.market
sandmarkets.com/pdfdownloadNew.asp?id191707655 Ba
sed 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 aero
structures. 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.
2
Based on sales channel, the aerospace bearings
market has been segmented into OEM and
aftermarket. An increase in aircraft orders and
deliveries, economic growth across regions, and
increased used of advanced bearings are the
factors driving the OEM segment. The regional
economies in Asia Pacific, the Middle East, and
Latin America have also shown steady growth over
the past few years, due to which the aviation
sector is expected to grow at a significant rate.
A paradigm shift in market demand from wide body
aircraft to narrow body and regional transport
aircraft is set to further boost aircraft
production, which will, in turn, drive the demand
for OEM aerospace bearings. The aftermarket
segment held a leading share of the market given
the wear and tear nature of the bearing demanding
replacement. Based on platform, the aerospace
bearings market has been segmented into fixed
wing, rotary wing, and unmanned aerial vehicle.
The demand for air transport is expected to
increase in emerging markets, such as Latin
America, Asia Pacific, and the Middle East,
irrespective of the current COVID impact on the
business cycle. North America accounts for the
largest share of the aerospace bearings market
during the forecast period North America
accounted for the largest share of 36.2 of the
aerospace bearings market in 2020. The presence
of major aviation manufacturers such as Boeing
(U.S.), Embraer (U.S.), and Bombardier (Canada)
in North America is one of the significant
factors driving the demand for aerospace bearings
in this region. North America is expected to
continue its dominance in the aerospace bearings
market during the forecast period, owing to the
established aviation industry in the region. 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. News Also Covere
d https//www.prnewswire.com/news-releases/aerosp
ace- bearings-market-worth-14-7-billion-by-2026--e
xclusive-report-by- marketsandmarkets-301288374.ht
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