The global aerospace bearing market size was valued at USD 6.74 billion in 2020 and is expected to register a CAGR of 6.91% during the forecast period to reach USD 10.06 billion in 2027. Aerospace bearings are installed in aircrafts to reduce the radial and axial loads in the revolving parts, which significantly raise the aircraft fuel efficiency. These aerospace bearings are also aimed to reduce the maintenance cost and timeframe of the aircraft. There are different types of bearings are already adopted, such as ball bearings, plain bearings, and roller bearings. Aerospace bearings are used in all aircraft, including wide-body aircraft, narrow-body aircraft, freighters, and regional jets. The primary use of a bearings in aircrafts are to reduce the axial and radial force that is directly applied to rotating shafts.
Considering the trend, aerospace bearing manufacturers are focusing on developing IoT integrated lightweight bearings to diagnose easily and safely. Plain bearing holds the largest share in term of value revenue size in the global aerospace bearing industry over the forecast period.
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Factors Affecting the Aerospace Bearing Industry Over the Forecast Period:
The aerospace bearings market growth is primarily attributed to the expansion and growth of the overall aviation industry in the developing nations. Also, the rising global air passenger traffic and enhanced aircraft movements boost the aerospace bearings consumption worldwide. Market players are operating in this market focus on lightweight solutions and fuel-efficient solutions combined with investing more in material technology to develop hybrid and ceramic bearings.
Rising in demand for new aircraft for long hauls flights and short-haul flights owing to the increasing passenger travel and rising spending power of the consumers are estimated to enhance market growth of the aerospace bearing market during the forecast period. The global aerospace bearings market research report offers a holistic evaluation of the global market. The report also offers a comprehensive analysis of key segments, global trends, drivers, opportunities, restraints, competitive landscape, market share, and growth factors analysis that are playing a significant role in the development of the market.
Impact of COVID-19 on Aerospace Bearing Market:
The aerospace bearing market had a major impact on the coronavirus COVID-19 outbreak. Due to the pandemic, the government and other local authorities have imposed complete lockdown in severely affected areas, which has disrupted any mode of transportation, which resulted in restricting passengers from traveling. Due to such severe condition aerospace bearing market were unable to manufacture bearings for the aircraft, which led to a disturbance in demand and supply channels. On the other half of the pandemic, the situation is less severe, and the market is expected to grow exponentially in upcoming years.
Scope of the Report
The report outlines the global aerospace bearing market study based only type, material, application, aircraft type.
Based on the type, the aerospace bearing market has been segmented into –
Based on the material, the aerospace bearing market has been segmented into –
- Stainless Steel
- Fiber-reinforced Composites
- Engineered Plastics
- Aluminum Alloys
Based on the application, the aerospace bearing market has been segmented into –
- Landing Gear
- Flight Control System
Based on the aircraft type, the aerospace bearing market has been segmented into –
- Narrow Body Aircraft
- Wide Body Aircraft
- Very Large Body Aircraft
- Regional Jet
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Aerospace Bearing Market: Regional Outlook
Based on the region, the global Aerospace Bearing Market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, North America held the largest share of the total global aerospace bearing market, followed by Europe and Asia Pacific. Moreover, Asia Pacific is expected to project the highest CAGR globally over the forecast period.
Key Global Aerospace Bearing Market Competitors Includes –
The global Aerospace Bearing Market is highly fragmented, with the presence of a large number of small players across the globe. The key companies operating in the global aerospace bearing market are –
- National Precision Bearing
- RBC Bearing
- Aurora Bearing
- Pacamor Kubar Bearings
- AST Bearings
- New Hampshire Ball Bearings
- Regal Beloit.
The Aerospace Bearing Market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market player’s presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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Aerospace Bearing Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
Aerospace Bearing Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
Aerospace Bearing Market: Target Audience
- Aviation Bearings Manufacturers
- Aviation Bearings Wholesalers, Retailers, and Distributors
- Aircraft Manufacturers
- Raw Material Suppliers
- Airline Operators
- Regulatory Bodies
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Key Issues Addressed
- What is the market size by various segmentation of the aerospace bearing by region and its respective countries?
- What are the customer buying behavior, key takeaways, and Porter’s 5 forces of the aerospace bearing market?
- What are the key opportunities and trends for manufacturers involved in the aerospace bearing supply chain?
- What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
- What and how regulations, schemes, patents, and policies are impacting the growth of the market?
- What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
- What will be the impact of cutting-edge technology on the aerospace bearing market?
- How COVID-19 impacted the demand and sales of aerospace bearing in the global market? Also, the expected BPS drop or rise count of the market and market expected recovery period
- Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market
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