Aerospace Bearings Market is Expected to Register a Considerable Growth by 2026
The Aerospace Bearings Market is segmented by Bearing Type (Ball Bearing [Angular Contact Ball Bearing and Deep Groove Ball Bearing], Roller Bearing [Tapered Roller Bearing, Spherical Roller Bearing, Cylindrical Roller Bearing, and Others], and Plain Bearing), Material Type (Metallic Bearings, Non-Metallic Bearings, and Hybrid Bearings), Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and UAV), Application Type (Engine & Transmission, Flight Control System, Landing Gear, Airframe, Auxiliary System, EOTS, and Others), End-User Type (OE and Aftermarket), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
Market Dynamics
Growing demand for air travel: With the growth of the aviation industry, there is an increasing demand for aerospace bearings. Bearings are an essential component of aircraft engines, landing gear, and other systems, and the increasing number of aircraft in service is driving the demand for aerospace bearings.
Rising defense spending: Governments around the world are increasing their defense spending to modernize their military equipment and systems. This is leading to an increased demand for aerospace bearings in military aircraft, helicopters, and other defense applications.
Technological advancements: Advancements in materials science and manufacturing technology are leading to the development of high-performance aerospace bearings that are lighter, stronger, and more durable than ever before. This is driving demand for new and improved bearings to replace older, less efficient designs.
Increase in aircraft fleet size: The global commercial aircraft fleet is expected to double over the next 20 years, driven by increasing air travel demand in emerging economies. This growth in fleet size is expected to lead to a corresponding increase in demand for aerospace bearings.
Emphasis on fuel efficiency: The aviation industry is under pressure to reduce its carbon footprint and increase fuel efficiency. Aerospace bearings play a critical role in reducing friction and improving engine performance, which can help to increase fuel efficiency and reduce emissions.
Regional Analysis
North America is expected to remain the largest market over the next five years. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, and raw material suppliers. Most of the bearing suppliers have their presence in the region to address the demand from OEMs tirelessly. Asia-Pacific is likely to mark the fastest recovery during the study period, owing to the growing volume of aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs in China; global migration of MRO markets from west to east due to lower cost; and upcoming aircraft programs such C919.
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