Global Aerospace Bearings Market worth $14.7 billion by 2026

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The report on the Aerospace Bearings Market
provides an analysis of the market from 2017 to
2026. It discusses industry and technology trends
currently prevailing in the market, along with
drivers, restraints, challenges, and
opportunities that influence the growth of the
market. The aerospace bearing market is projected
to grow from USD 9.6 billion in 2021 to USD 14.7
billion by 2026, at a CAGR of 8.9 from 2021 to
2026. The aerospace bearings market in the Asia
Pacific region is expected to witness the
highest growth during the forecast period due
to the expansion of the aviation
sector in the region. Increasing air
passenger traffic in Asia Pacific region is
boosting the demand for the development or
procurement of new aircraft. Bearings are
essential components facilitating the working of
all kinds of aircraft. Hence, the increasing
demand for new aircraft in APAC is expected to
stimulate the aerospace bearings market during
the forecast period. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id191707655 Based on type, the aerospace
bearings market has been segmented into ball
bearing, roller bearing, plain bearing, and
others. Bearings are devices used to enable
rotational or linear movement while reducing
friction and handling stress. Resembling wheels,
bearings literally enable devices to roll, which
reduces the friction between the surface of the
bearings and the surface they are rolling over.
Collectively ball bearings roller bearings
together held the majority share of the
aerospace bearings market in 2020 as they find
applications in multiple areas ranging from
engines and cockpit controls to landing gears and
aerostructures. The aerospace bearings market has
been segmented base on material into metal,
metal polymer engineered plastic, fiber
reinforced plastic, and ceramic. The metal
segment held the largest share of the aerospace
bearings market in 2020. Traditionally bearings
are made from stainless steel metal due to the
cost-effective nature and durability of the
metal. However, the fiber reinforced composite
and ceramic segments are anticipated to record
high growth during the forecast period due to
the increasing demand for lightweight and
environmentally friendly products. Based on sales
channel, the aerospace bearings market has been
segmented into OEM and aftermarket. An increase
in aircraft orders and deliveries, economic
growth across regions, and increased used of
advanced bearings are the factors driving the
OEM segment. The regional economies in Asia
Pacific, the Middle East, and Latin America have
also shown steady growth over the past few years,
due to which the aviation sector is expected to
grow at a significant rate. A paradigm shift in
market
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demand from wide body aircraft to narrow body and
regional transport aircraft is set to further
boost aircraft production, which will, in turn,
drive the demand for OEM aerospace bearings. The
aftermarket segment held a leading share of the
market given the wear and tear nature of the
bearing demanding replacement. Based on platform,
the aerospace bearings market has been segmented
into fixed wing, rotary wing, and unmanned
aerial vehicle. The demand for air transport is
expected to increase in emerging markets, such as
Latin America, Asia Pacific, and the Middle
East, irrespective of the current COVID impact on
the business cycle. Key Market Players The major
players in the aerospace bearings market are SKF
(Sweden), JTEKT Corporation (Japan), Schaeffler
AG (Germany), The Timken Company (US), RBC
Bearings Inc. (US), and NSK Ltd. (Japan). These
players have adopted various growth strategies
such as contracts, joint ventures, partnerships
agreements, acquisitions, and new product
launches to further expand their presence in the
aerospace bearings market. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id191707655 About MarketsandMarkets Mar
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