Aerospace Bearings Market by Type (Roller, Ball), Application (Landing Gear, Engine, Flight Control System, Aerostructure), Material (Stainless Steel, Fiber-Reinforced Composites, Engineered Plastics), Aircraft Type, and Region - Global Forecast to 2022
“Increase in aircraft deliveries is the key factor impacting the growth of the aerospace bearings market”
The aerospace bearings market was valued at USD 7.88 billion in 2016 and is projected to reach USD 11.19 billion by 2022, at a CAGR of 6.01% during the forecast period. The increasing number of aircraft deliveries and upgradation of aircraft to reduce operating cost are the key drivers for the aerospace bearings market. Backlogs in current aircraft orders act as a restraint in growth of the aerospace bearings market.
“Based on type, the roller segment is projected to grow at the highest CAGR during the forecast period”
Based on type, the roller segment of the aerospace bearings market is expected to grow at the highest CAGR during the forecast period. As roller bearings find application in maximum parts of an aircraft, the increasing demand for aircraft in the future is expected to drive the demand for bearings.
“Based on material, the fiber-reinforced composites segment is projected to grow at the highest CAGR during the forecast period”
Based on material, the fiber-reinforced composites segment of the aerospace bearings market is anticipated to grow at the highest CAGR during the forecast period. This segment is expected to grow, as these bearings support high static and dynamic loads, and are ideal for corrosive environments such as seawater and acidic.
“North America led the aerospace bearings market in 2016”
The North America region led the aerospace bearings market in 2016 accounting for the highest share of the market in the same year due to the increase in the number of aircraft deliveries and modernization of aircraft. The aerospace bearings market in Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Major aircraft manufacturing companies across the globe are establishing their manufacturing base in Asia-Pacific and hence, the aerospace bearings market in commercial and military application is expected to grow during the forecast period. Countries in this region such as Japan and Russia have re-entered the aircraft manufacturing business by launching commercial regional aircraft in the past two years.
Break-up of profiles of primary participants in this report:
• By Company Type: Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
• By Designation: C level – 35%, Director level – 25%, Others – 40%
• By Region: North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Key players profiled in the aerospace bearings market include GGB Bearings Technology (U.S.), National Precision Bearings (U.S.), SKF Group (Sweden), JTEKT Corporation (Japan), and RBC Bearings Inc. (U.S.) among others.
The study segments the aerospace bearings market on the basis of type (roller, ball, and others), material (stainless steel, fiber-reinforced composites, metal-backed, aluminum alloys, engineered plastics and others), application (engine, landing gear, flight control system, aerostructure, and others), and aircraft type (wide body aircraft, narrow body aircraft, very large aircraft, regional transport aircraft, business jet, fighter jet, helicopter, and others), and has studied this market for regions, namely, North America, Europe, Asia–Pacific, and the Rest of the World. The report provides in-depth market intelligence regarding the market dynamics and major factors influencing the growth of the aerospace bearings market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the aerospace bearings market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), market ranking analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the aerospace bearings market, high growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on aerospace bearings offered by top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aerospace bearings market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for aerospace bearings across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aerospace bearings market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the aerospace bearings market
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