Aerospace Bearing Market valued will reach USD 11.2 billion by 2025. The reports forecast the aerospace bearing market by type, material, application, aircraft type and region. It highlights COVID-19 impact on the aerospace bearing industry.

Description

Aerospace Bearing Market: by Type (Roller, Ball and Plain), by Material (Stainless Steel, Fiber-reinforced Composites, Metal-backed, Engineered Plastics and Aluminum Alloys), by Application (Landing Gear, Engine, Flight Control System and Aerostructure), by Aircraft Type (Narrow Body Aircraft, Wide Body Aircraft, Very Large Body Aircraft and Regional Jet) and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

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The aerospace bearing market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of aerospace bearing.

Aerospace Bearing Market Introduction

The aerospace bearing market size is valued at USD 6.1 billion in 2019 and is expected to register a CAGR of 6.9% during the forecast period (2020-2025). Aerospace bearings are the bearings installed in an aircraft to reduce the axial and radial loads in the rotating parts, which will increase the fuel efficiency of the aircraft. Recently, aerospace bearing manufacturers are focusing o developing IoT integrated lightweight bearings to diagnose easily and safely. Plain bearing holds the largest share in term of volume in the aerospace bearing market over the forecast period.

Factors Affecting the Aerospace Bearing  Industry Over the Forecast Period-

•  Advancement in new technology and introduction of artificial intelligence in the development and implementation of bearings into the aircraft has increased efficiency and reduces the operational cost, which is one of the driving forces in the aerospace bearing industry
  •    Rising demand for high-performance bearings has resulted in the manufacturing of advanced sensor integrated bearings, which has led to increased production of bearings to improve efficiency and statistics towards market growth.
  •    Heavyweight aircraft tends to require a lot of maintenance, which results in the growth of aftermarket
  •    Existing backlogs of aircraft deliveries may restrain the growth of the aerospace bearing market. 
  •    Irregularities and lack of coworkers in the manufacturing units has led to a decrease in the production of bearing and impede the market growth

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.

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Aerospace Bearing Market: 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 –

•  Roller
  •    Ball
  •    Plain

Based on the material, the aerospace bearing market has been segmented into –

•  Stainless Steel
  •    Fiber-reinforced Composites
  •    Metal-backed
  •    Engineered Plastics
  •    Aluminum Alloys

Based on the application, the aerospace bearing market has been segmented into –

•  Landing Gear
  •    Engine
  •    Flight Control System
  •    Aerostructure

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

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 2019, 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
  •    SKF
  •    JTEKT
  •    RBC Bearing
  •    Aurora Bearing
  •    Pacamor Kubar Bearings
  •    Timken
  •    AST Bearings
  •    New Hampshire Ball Bearings
  •    NTN
  •    Kaman
  •    Rexnord
  •    Schaeffler
  •    NSK
  •    Regal Beloit

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