USD 12.40 Billion
Global Aerospace Bearings Market Size, Share, Growth Analysis, By Type(Roller Bearings, Ball Bearings), By Application(Engine Systems, Landing Gear Systems) - Industry Forecast 2024-2031
Report ID:
SQMIG20A2075 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
64 |
Figures:
75
Global Aerospace Bearings Market Insights
The Global Aerospace Bearings Market size was valued at USD 12.40 Billion in 2022 and is poised to grow from USD 13.59 Billion in 2023 to USD 28.30 Billion by 2031, at a CAGR of 9.60% during the forecast period (2024-2031).
The global aerospace bearings market plays a critical role in the aviation industry by providing high-performance bearings that ensure smooth operation and efficiency of various aerospace systems. One of the key drivers of the global market is the rapid growth of the commercial aviation sector. The increasing demand for air travel, especially in emerging economies, has led to the expansion of airline fleets, thus driving the need for aerospace bearings. Moreover, the growing trend towards lightweight aircraft structures has also boosted the demand for advanced bearings that offer reduced weight and improved fuel efficiency.
In recent years, there has been a significant focus on the development of technologically advanced bearings to meet the evolving requirements of the aerospace industry. Manufacturers are investing in research and development activities to enhance bearing materials, lubrication systems, and sealing technologies. This has resulted in the emergence of innovative bearing solutions with enhanced performance characteristics. Furthermore, the rising demand for unmanned aerial vehicles (UAVs) and the growing space exploration activities have provided additional growth opportunities for the aerospace bearings market. The use of bearings in UAVs is crucial for their efficient and reliable operation, and the expanding space industry requires bearings that can withstand the harsh conditions of space. Key players in the global market are continuously striving to improve their product offerings through strategic collaborations, mergers, and acquisitions. They are also focusing on expanding their manufacturing capabilities and investing in advanced technologies to gain a competitive edge.
US Aerospace Bearings Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Roller Bearings
Fastest Growth
Roller Bearings
Growth Rate
9.60% CAGR
Global Aerospace Bearings Market ($ Bn)
Country Share for North America Region (%)
Global Aerospace Bearings Market By Type ($ Bn)
Global Aerospace Bearings Market By Type (%)
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Global Aerospace Bearings Market Segmental Analysis
The Global Aerospace Bearings Market is segmented by type, application, and region. Based on type, the market can be segmented into roller bearings, ball bearings, and others. Based on application, the market is segmented into engine systems, landing gear systems, flight control systems, and airframe systems. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Aerospace Bearings Market Analysis by Type
By type, the market can be segmented into roller bearings, ball bearings, and others. Ball bearings dominated the aerospace bearings market. These bearings have gained significant popularity due to their excellent load-bearing capacity, reduced friction, and smooth operation. They are widely used in various aerospace applications, including control systems, wing flaps, and turbines.
The roller bearings emerged as the fastest-growing segment. Roller bearings, including cylindrical, tapered, and spherical variants, are gaining traction due to their superior load-carrying capacity and ability to handle heavy axial and radial loads. Roller bearings find extensive usage in critical aerospace systems such as aircraft engines, landing gears, and helicopter transmissions. Their robust construction enables them to withstand intense operating conditions, including high temperatures and extreme forces.
Aerospace Bearings Market Analysis by Application
By application, the market can be segmented into engine systems, landing gear systems, flight control systems, and airframe systems. Engine systems dominated the aerospace bearings market. Bearings used in engine systems play a crucial role in supporting the rotating components, such as turbine shafts, fan shafts, and gearboxes. These bearings are subjected to extreme operating conditions, including high temperatures, high speeds, and heavy loads.
The flight control systems segment is the fastest-growing segment in the aerospace bearings market. Bearings used in flight control systems are crucial for the smooth operation of control surfaces, including ailerons, elevators, rudders, and flaps. These bearings enable precise and responsive control of the aircraft, ensuring maneuverability and stability.
Global Aerospace Bearings Market By Type, 2023 (%)
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Global Aerospace Bearings Market Regional Insights
North America dominated the global aerospace bearings market. The region is home to some of the world's largest aerospace manufacturers, including Boeing and Lockheed Martin, contributing significantly to the demand for aerospace bearings. The well-established aerospace industry in North America, coupled with the presence of numerous defense and commercial aviation companies, drives the market growth in the region. Additionally, the region's strong focus on technological advancements and research and development activities further boosts the demand for advanced aerospace bearings.
Asia-Pacific (APAC) is experiencing rapid growth and is emerging as one of the fastest-growing regions in the aerospace bearings market. The expanding commercial aviation sector in countries like China and India, along with the increasing defense expenditure, is propelling the demand for aerospace bearings in the region. The rising disposable incomes, growing urbanization, and a surge in air passenger traffic contribute to the market growth. Furthermore, the presence of prominent aircraft manufacturers, such as Airbus and Mitsubishi Aircraft Corporation, in APAC fosters the demand for aerospace bearings.
Global Aerospace Bearings Market By Region, 2024-2031
- Largest
- Fastest
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Global Aerospace Bearings Market Dynamics
Aerospace Bearings Market Drivers
Increasing demand for lightweight aircraft structures
- One significant driver of the global aerospace bearings market is the increasing demand for lightweight aircraft structures. With the aim of improving fuel efficiency and reducing emissions, aerospace manufacturers are focusing on developing lightweight aircraft designs. This has led to a surge in the demand for advanced aerospace bearings that offer reduced weight without compromising on performance and durability. Lightweight bearings not only contribute to overall weight reduction but also enhance aircraft maneuverability, leading to increased efficiency and cost savings for airlines.
Aerospace Bearings Market Restraints
Stringent regulations and standards imposed by regulatory authorities
- A key restraint in the global aerospace bearings market is the stringent regulations and standards imposed by regulatory authorities. The aerospace industry is subject to rigorous safety and quality requirements to ensure reliable and safe operations. Compliance with these regulations can pose challenges for bearing manufacturers in terms of design, manufacturing processes, and material selection. Meeting the stringent certification criteria adds complexity and increases the time and cost of developing and introducing new aerospace bearing solutions, thereby limiting market entry barriers and potential growth opportunities.
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Global Aerospace Bearings Market Competitive Landscape
The global aerospace bearings market is characterized by a mix of established and emerging players striving to gain a competitive edge. Companies in the market are focused on continuous product innovation, technological advancements, and strategic collaborations to expand their market presence. Additionally, there is a growing emphasis on research and development activities to develop high-performance bearings that meet the evolving requirements of the aerospace industry. The competitive landscape is driven by factors such as product quality, reliability, customer service, and the ability to offer customized solutions that cater to specific aerospace applications.
Aerospace Bearings Market Top Player’s Company Profiles
- SKF (Sweden)
- Timken Company (US)
- NTN Corporation (Japan)
- Schaeffler AG (Germany)
- RBC Bearings Incorporated (US)
- NSK Ltd. (Japan)
- JTEKT Corporation (Japan)
- Aurora Bearing Company (US)
- THK Co., Ltd. (Japan)
- Nachi-Fujikoshi Corp. (Japan)
- GGB Bearing Technology (US)
- Wafangdian Bearing Group Corporation (China)
- MinebeaMitsumi Inc. (Japan)
- Regal Beloit Corporation (US)
- NMB Technologies Corporation (US)
- The Barden Corporation (US)
- Kaman Corporation (US)
- RKB Bearing Industries (Switzerland)
- Federal-Mogul Corporation (US)
- BAE Systems plc (UK)
Aerospace Bearings Market Recent Developments
- In June 2023, Textron Aviation announced the launch of its new Cessna Denali single-engine turboprop aircraft, featuring advanced systems and technologies for improved performance and efficiency.
- In April 2023, United Technologies Corporation (UTC) announced a strategic investment in Boom Supersonic, a company developing supersonic commercial aircraft, to collaborate on advanced aerospace technologies.
- In February 2023, General Electric (GE) Aviation received funding from the U.S. Department of Defense for the development of advanced turboshaft engines for military helicopters, focusing on increased power and fuel efficiency.
- In January 2023, Boeing announced a partnership with Safran to develop and supply auxiliary power units (APUs) for the next-generation Boeing 737 MAX aircraft, enhancing efficiency and reducing emissions.
- In November 2022, Thales Group acquired Transpower, a Canadian company specializing in electric power systems for aircraft, to strengthen its portfolio of electrical technologies for aerospace applications.
Global Aerospace Bearings Key Market Trends
- One key market trend in the global aerospace bearings market is the increasing adoption of additive manufacturing, also known as 3D printing, for bearing production. Additive manufacturing allows for the creation of complex geometries and intricate designs, offering greater design flexibility and customization options. This technology enables aerospace bearing manufacturers to produce lighter, more durable, and highly efficient bearings with improved performance characteristics. The use of additive manufacturing in bearing production also facilitates faster prototyping and reduces production lead times, contributing to overall cost savings and increased operational efficiency.
Global Aerospace Bearings Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aerospace bearings market analysis, the market is witnessing steady growth driven by factors such as the increasing demand for air travel, the expansion of the commercial aviation sector, and advancements in bearing technologies. North America dominated the market due to its well-established aerospace industry and presence of key market players, while the Asia-Pacific region is emerging as the fastest-growing region fueled by the expanding aviation sector and rising defense budgets. However, stringent regulations pose challenges for manufacturers. Additionally, the adoption of additive manufacturing for bearing production is a notable trend, enabling the development of lightweight and customized bearings with enhanced performance characteristics.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.40 Billion |
| Market size value in 2031 | USD 28.30 Billion |
| Growth Rate | 9.60% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aerospace Bearings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aerospace Bearings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aerospace Bearings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aerospace Bearings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aerospace Bearings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aerospace Bearings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aerospace Bearings Market Report Snapshots
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