Aerospace Bearings Market Report

Market Highlights

"The global aerospace bearings market was valued at USD 1.1 billion in 2021 and is projected to reach USD 1.9 billion by 2026, registering a CAGR of 7.8% during the forecast period."

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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.

Market Trends

• Additional support for the research and development of nanocomposite materials for bearings that have better strength-to-weight ratios.
• Growing adoption of 3D printing technology in the manufacturing of complex prototypes and designs for bearings.
• Rising demand for specialized bearings to meet the requirements of modern spacecraft and airplanes.
• The development of new coating technologies to improve bearing performance under adverse conditions and high temperatures.
• Increasing focus on developing bearings, specifically for eVTOL (electric vertical takeoff and landing) aircraft and urban mobility vehicles.
• Bearing manufacturers and aerospace firms working together to co-develop novel solutions for upcoming aircraft designs.

The dynamic nature of the aerospace bearings market, which is being driven by evolving aircraft designs and technological advancements, is highlighted by these trends and insights.

The aerospace bearings market is dynamic, with a consistent upward trajectory. It's driven by factors like the expansion of the aviation industry, increased air travel, and the growing demand for satellites and space exploration. Furthermore, advancements in materials, rebounding aircraft deliveries, growing demand for lightweight yet strong aircraft components, and manufacturing techniques are enhancing bearing performance and durability.

Military Equipment Modernization Initiatives: Numerous nations are channeling investments into the modernization of their military aircraft and equipment. This encompasses upgrades to fighter jets, helicopters, and unmanned aerial vehicles (UAVs), all of which necessitate advanced aerospace bearings to enhance performance and durability.

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 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.

Segment Analysis

Bearing Trends

"The ball bearings segment accounted for the largest market share."

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 than 50% in 2020, owing to their extensive usage throughout the airframe and engine assemblies.

Application Trends

"Engine & Transmission segment accounted for the largest market share."

The market is segmented into 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 than 20% 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

"Metallic Bearings segment accounted for the largest market share."

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 will hold a revenue share of more than 65% in 2020.

Platform Trends

"The commercial aircraft segment accounted for the largest market share."

The market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and UAV. Commercial Aircraft is expected to remain the largest segment of the market and it will hold a revenue share of more than 55% in 2020.

Regional Insights

North America is expected to remain the largest market and it will hold a revenue share of more than 35% 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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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).

• AB SKF
• JTEKT Corporation
• MinebeaMitsumi Group
• NSK Ltd.
• NTN Corporation
• RBC Bearings Incorporated
• Schaeffler Technologies AG & Co. KG
• The Timken Company
• LYC Bearing Corporation
• Harbin Bearing Manufacturing Co.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

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 market is 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 Platform Type

• 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)

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