Aerospace Bearings Market to Grow at an Impressive CAGR of 8.9% by 2026 - PowerPoint PPT Presentation

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Aerospace Bearings Market to Grow at an Impressive CAGR of 8.9% by 2026

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The aerospace bearings market is projected to grow from an estimated USD 9.6 billion in 2021 to USD 14.7 billion by 2026, at a CAGR of 8.9% during the forecast period. – PowerPoint PPT presentation

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Date added: 10 October 2022
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Title: Aerospace Bearings Market to Grow at an Impressive CAGR of 8.9% by 2026


1
Aerospace Bearings Market Global Trends, Size,
Segments and Growth till 2026
The report "Aerospace Bearings Market by Type
(Ball Bearing, Roller Bearing, Plain Bearing),
Material (Metal, Metal Polymer Engineered
Plastic, Fiber Reinforced Plastic, Ceramic),
Application, Platform, Sales Channel, Region -
Global Forecast to 2026", 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 rise of the global space sector,
technological innovations, and sustained growth
of the defense sector are the key factors
driving the aerospace bearings markets growth.
The increasing focus on a greener aerospace
sector and its impact on the bearing supply
chain are expected to create a demand for
aerospace bearings. The aerospace bearings
market has been growing at a significant rate,
and this trend is expected to continue during
the forecast period. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id191707655 Based on type, the ball bearing
segment is held the leading share of the
aerospace bearings market during the forecast
period. 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. Based on material type, the
metal segment is projected to lead the aerospace
bearings market from 2021 to 2026.
2
Based on material type, 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
application, the cockpit control and
aerostructure segment is projected to grow at a
high CAGR during the forecast period. Based on
application, the aerospace bearings market is
segmented under landing gear, cockpit control,
aerostructure, aircraft systems, engine APU,
door and aircraft interiors. The cockpit control
and aerostructure segment is projected to record
highest growth during the forecast period. The
aerostructure refers to the body of an aircraft.
The aerostructure is required to have an optimal
proportion of the weight of the vehicle and
payload. It needs to be strong enough to
withstand exceptional circumstances in which it
must operate, and durability is an important
factor. Track roller bearings are typically used
in aircraft structures. Track roller bearings are
bearings with suitable external outside rolling
rings designed to run along profiles or
cams. Based on platform, the fixed wing segment
is projected to grow at the highest CAGR during
the forecast period. Based on platform, the
aerospace bearings market has been segmented into
fixed wing, rotary wing, and unmanned aerial
vehicle. The fixed wing segment is projected to
record highest growth during the forecast period
owing to demand for new fixed wing aircraft is
expected to increase in the coming years due to
the growing air passenger traffic and
replacement of aging aircraft. Asia Pacific and
the Middle East are expected to witness high
growth in the aviation industry on account of
increasing disposable income in these
regions. Based on sales channel, the aftermarket
segment held the majority share of the aerospace
bearings market from 2021 to 2026. Based on sales
channel, the aerospace bearings market has been
segmented into OEM and aftermarket. In 2020,
Aftermarket segment accounted for the dominating
share of the global aerospace bearings market.
Increasing safety regulations is propelling the
maintenance checks of the aircrafts. Bearings
which have wear tear nature contribute to high
replacement demand. The Asia Pacific and Middle
East regions are projected to be high growth
potential markets for the aerospace bearings
market during the forecast period. The aerospace
bearings market in the Middle East region is
expected to witness substantial growth and
register the highest CAGR during the forecast
period. The
3
Middle East had increased its share of cargo air
traffic from 3 in 1999 to 14 in 2020. The
freight fleets and transport carriers are
anticipated to record exponential growth in the
region, thereby boosting the aerospace bearings
market. The general business aviation industry
in the Middle East is one of the most developed
in the world. The presence of many
high-net-worth individuals has boosted the demand
for business jets and light aircraft. Key Market
Players SKF (Sweden), JTEKT Corporation (Japan),
Schaeffler AG (Germany), The Timken Company
(US), RBC Bearings Inc. (US), and NSK Ltd.
(Japan), are the leading players operating in
the aerospace bearings market. These players have
adopted various growth strategies such as
contracts, agreements, acquisitions, expansions,
new product launches, partnerships
certifications, investments, venture capital
funding, and research development (RD)
activities to further expand their presence in
the aerospace bearings market. Ask for Sample
Report _at_ https//www.marketsandmarkets.com/request
sampleNew.asp?id191707655
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