The global aerospace bearings market size is expected to grow from $6.11 billion in 2021 to $6.93 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The global aerospace bearings market is then expected to grow to $10.12 billion in 2026 at a CAGR of 9.9%.
What is the Global Aerospace Bearings Market?
The aerospace bearings market consists of sales of aerospace bearings by entities (organizations, sole traders, and partnerships) that are used to reduce load and friction between the moving or rotating parts. The aerospace bearings are components that reduce the radial and axial force in an aircraft. They also facilitate the movement of seats, doors, and other components of engine management systems and flight control systems without any failure.
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What drives the Global Aerospace Bearings Market?
The increasing focus on the green aerospace sector is significantly contributing to the growth of the aerospace bearings market. Green aerospace focuses on increasing aircraft fuel economy and developing new technologies and systems to achieve a global future of carbon-neutral air transportation. Major aerospace Bearing manufacturers are focused on developing fuel-efficient bearings to shift the market demand towards low emission products. For instance, in September 2020, Airbus, a Netherlands-based aerospace company revealed the world’s first zero-emission commercial aircraft concept codenamed “ZEROe” to achieve zero-emission flight by 2035. It mainly relies on the use of hydrogen as a primary power source. Therefore, the focus on the green aerospace sector is expected to propel the growth of the aerospace bearings market going forward.
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Global Aerospace Bearings Market Segments
The global aerospace bearings market is segmented:
By Bearing Type: Plain Bearing, Roller Bearing, Ball Bearing, Others
By Material: Stainless Steel, Fiber-Reinforced Composites, Engineered Plastics, Ceramics, Alloy
By Application: Landing Gear, Cockpit Control, Aerostructure, Aircraft Systems, Engine and APU Systems, Doors, Aircraft Interiors
By Geography: The regions covered in the aerospace bearings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Aerospace Bearings Global Market Report 2022provides market size and growth forecasts for the global aerospace bearings market, global aerospace bearings market share, aerospace bearings market segments and geographies, aerospace bearings market competitive landscape including leading competitors’ revenues, profiles and market shares. The aerospace bearings market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Aerospace Bearings Industry Playersinclude AST Bearings, Enpro Industries, JTEKT Corporation, Kaman Corporation, New Hampshire Ball Bearings Inc., National Precision Bearing, RBC Bearings Incorporated, SKF Group, Schaeffler AG, NTN Corporation, The Timken Company, Pacamor Kubar Bearings, Regal Rexnord Corporation, Schatz Bearing Corp., and HKT BEARINGS Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
