• Blog
  • Aerospace Bearings Market Growth Analysis

    Aerospace Bearings Market Growth Analysis

    Aerospace Bearings Market Growth Analysis
    Report code - SR1364 Published On : Nov,2021 No. of Pages: 155
    Get Free Sample |
    Aerospace Bearings Market Size, Share, Trends, Forecast, Competitive Analysis, and Growth See more...

    Market Highlights

    The 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.

    Wish to get a free sample? Register Here

    What is an aerospace bearing?

    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 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)

    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 than 50% 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 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

    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 than 65% in 2020.

    Platform Trends

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

    Regional Analysis

    North America is expected to remain the largest market and it held 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.

    Want to know which region offers the best growth opportunities? Register Here

    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).

    Target Audience

    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?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    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.

    Frequently Asked Questions (FAQs)

    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.

    The aerospace bearings market is estimated to grow at a CAGR of 7.8% over the next five years.

    The aerospace bearings market will reach 1.9 Bn US$ by 2026.

    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.

    Ball bearings are expected to remain the larger segment in the aerospace bearings market in the coming years.

    Engine & Transmission is expected to be the leading segment in the aerospace bearings market in the next five years.

    Asia-pacific is expected to mark the fastest recovery in the market during the study period.

    North America is estimated to remain dominant in the aerospace bearings market in the foreseen future.

    •   

      Why are We Class Apart?

      No One Does Better in Aerospace Market Research Than Us

      Largest Number of Premium Studies in Aerospace Industry

      >60% of the First Buyers Come Back to Us

      >95% Client Satisfaction Ratio, the Industry's Highest

      Clients Across Aerospace Value Chain

      Track the Latest Trends in Aerospace Industry

      Know High Growth Opportunities