The market is segmented by Bearing Type (Ball Bearing [Angular Contact Ball Bearing and Deep Groove Ball Bearing], Roller Bearing [Tapered Roller Bearing, Spherical Roller Bearing, Cylindrical Roller Bearing, and Others], and Plain Bearing), Material Type (Metallic Bearings, Non-Metallic Bearings, and Hybrid Bearings), Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and UAV), Application Type (Engine & Transmission, Flight Control System, Landing Gear, Airframe, Auxiliary System, EOTS, and Others), End-User Type (OE and Aftermarket), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
The market is segmented by Bearing Type (Ball Bearing [Angular Contact Ball Bearing and Deep Groove Ball Bearing], Roller Bearing [Tapered Roller Bearing, Spherical Roller Bearing, Cylindrical Roller Bearing, and Others], and Plain Bearing), Material Type...
The Aerospace Bearings Market was valued at USD 1.1 Billion in 2021 and is projected to reach USD 1.9 Billionby 2026, registering a CAGR of 7.8% during the forecast period.
An aircraft contains components that can withstand enormous pressure and stress while in motion. This is possible because of bearing assemblies, that are evolving and getting more complex with time. Bearings are present throughout an aircraft, and their evolution has been driven by the desire for lightweight yet strong aircraft components, as well as the need for failure-proof operation. Many key components of aviation engines and landing gear must be able to move, and every bearing's aim is to allow two mated surfaces to rotate, either together or separately. In the aerospace industry, safety, reliability, space, and weight savings are some constantly faced challenges, due to which there is a need for high-quality aircraft bearings.
Market Drivers
Rebounding aircraft deliveries
Growing demand for lightweight yet strong aircraft components
Segment Analysis
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The aerospace bearings marketis segmented into the following categories-
By Bearing Type
Ball Bearing
Roller Bearing
Plain Bearings
By Material Type
Metallic Bearing
Non-Metallic Bearing
Hybrid Bearing
By PlatformType
Commercial Aircraft
Regional Aircraft
General Aviation
Helicopter
Military Aircraft
UAV
By Application Type
Engine & Transmission
Flight Control System
Landing Gear
Airframe
Auxiliary System
EOTS
Others
By End-User Type
OE
Aftermarket
By Region
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Bearing Trends
The market is segmented as ball bearing, roller bearing, and plain bearing. Ball bearings are further classified as angular contact ball bearing, and deep groove ball bearing. Similarly, roller bearings are further classified as tapered roller bearings, cylindrical roller bearings, spherical roller bearings, and others. Ball bearings are expected to remain the larger segment of the market and it held a revenue share of more than50% in 2020, owing to their extensive usage throughout the airframe and engine assemblies.
Application Trends
The market is segmented as engine & transmission, flight control system, landing gear, airframe, auxiliary system, EOTS, and others. Engine & Transmission is projected to be the leading segment of the market and it held a revenue share of more than20% in 2020. As engines and airplanes get lighter, faster, and more fuel-efficient, the operating temperature of engines continues to rise, creating a demand for high-temperature-resistant bearings (rated to operate close to 900 or more degrees Fahrenheit continually). The EOTS segment is gaining traction in the market given the rising popularity of the electro-optical targeting system (EOTS) in aerial warfare.
Material Trends
The market is segmented as metallic bearings, non-metallic bearings, and hybrid bearings. Metallic Bearings are expected to be the dominant segment of the market and it held a revenue share of more than65% in 2020.
Platform Trends
The market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and UAV. Commercial Aircraftis expected to remain the larger segment of the marketand it held a revenue share of more than55% in 2020.
Regional Analysis
North America is expected to remain the largest market and it held a revenue share of more than35% in 2020. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, and raw material suppliers. Most of the bearing suppliers have their presence in the region to address the demand from OEMs tirelessly. Asia-Pacific is likely to mark the fastest recovery during the study period, owing to the growing volume of aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs in China; global migration of MRO markets from west to east due to lower cost; and upcoming aircraft programs such C919.
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COVID-19 Impact
Even before the COVID-19 pandemic, the global aerospace industry was under stress, owing to the B737Max grounding in 2019. The sudden outburst of COVID-19 further deepened the market challenges, causing unimaginable disruption and losses for the stakeholders. The aerospace bearings market typically relies on the organic growth of the aerospace industry and follows the trajectory of the latter. Key challenges that arose in front of the industry stakeholders on account of the pandemic were reduced demand, supply chain disruptions, financial pressure, and workforce impairment.
However, the long-term outlook still seems fruitful, well backed by the industry’s buoyant nature and strong fundamentals. The lift of Boeing’s B737Max in October 2020, the gradual opening up of travel restrictions, rebounding aircraft deliveries, and Airbus’ significantly healed revenue (reaping profit in Q1 2020 as opposed to grave loss in Q1 2020) are among the few key factors signaling towards healthy and quick recuperation.
Key Players
The supply chain of this market comprises several nodes including raw material suppliers, bearing manufacturers, OEMs, and MRO companies. The following are the key players in the aerospace bearings market (alphabetically arranged).
Here is the list of the group of customers that the aerospace bearings market hopes to have the greatest opportunity to convert-
Distributors
Suppliers
Manufacturers
Logistics organizations
Government bodies
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Aerospace Bearings Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace bearings market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
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An aircraft contains components that can withstand enormous pressure and stress while in motion. This is possible because of bearing assemblies, that are evolving and getting more complex with time. Bearings are present throughout an aircraft, and their evolution has been driven by the desire for lightweight yet strong aircraft components, as well as the need for failure-proof operation. Many key components of aviation engines and landing gear must be able to move, and every bearing's aim is to allow two mated surfaces to rotate, either together or separately. In the aerospace industry, safety, reliability, space, and weight savings are some constantly faced challenges, due to which there is a need for high-quality aircraft bearings.
AB SKF, Schaeffler Technologies AG & Co. KG, NSK Ltd., JTEKT Corporation, NTN Corporation, RBC Bearings, Incorporated, MinebeaMitsumi Group, The Timken Company, LYC Bearing Corporation, and Harbin Bearing Manufacturing Co. are the leading players in the aerospace bearings market.