Aerospace Bearings Market Growth Opportunities, Size, Share Analysis, Recent Developments And Forecast To 2033

The aerospace bearings market size has grown rapidly in recent years. It will grow from $7.94 billion in 2023 to $8.86 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to aging aircraft fleet, rise in military budgets, regulatory changes, rise in space exploration initiatives, rise in focus on lightweight materials.

The aerospace bearings market size is expected to see rapid growth in the next few years. It will grow to $13.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to emerging markets growth, cybersecurity threats, infrastructure development, increasing demand for new aircraft, rising demand for uavs. Major trends in the forecast period include enhanced lubrication technologies, smart bearings, miniaturization, sustainable bearing solutions, condition monitoring.

Market Overview -
Aerospace bearings refer to aerospace components that are used to reduce load and friction between the moving or rotating parts. The aerospace bearings reduce the radial and axial force in an aircraft. They also facilitate the movement of seats, doors, and other components of engine management systems and flight control systems without any failure.

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Green Aerospace Drive Fuels Growth In The Aerospace Bearings Market
The increasing focus on the green aerospace sector is significantly contributing to the growth of the aerospace bearings market. Green aerospace focuses on increasing aircraft fuel economy and developing new technologies and systems to achieve a global future of carbon-neutral air transportation. Major aerospace Bearing manufacturers are focused on developing fuel-efficient bearings to shift the market demand towards low emission products. For instance, in December 2022, according to the International Air Transport Association, a Canada-based trade association, the output of sustainable aviation fuel (SAF) is expand by 200% from 2021 to 300 million liters in 2022. It mainly relies on the use of hydrogen as a primary power source. Therefore, the focus on the green aerospace sector is expected to propel the growth of the aerospace bearings market going forward.

Competitive Landscape -
Major companies operating in the aerospace bearings market include AST Bearings LLC, EnPro Industries Inc., JTEKT Corporation, Kaman Corporation, New Hampshire Ball Bearings Inc., National Precision Bearing Group of Mechatronics Inc., RBC Bearings Incorporated, SKF Group, Schaeffler AG, NTN Corporation, The Timken Company, Pacamor Kubar Bearings (PKB), Regal Beloit Corporation, Schatz Bearing Corporation, HKT Bearings Limited, GGB Bearing Technology, NSK Ltd., THK CO. LTD., Aurora Bearing Company, Precision Bearing Co., SGL Bearings India Private Limited, Spherical Bearings Private Limited, The Barden Corporation., The General Bearing Corporation., The Torrington Company., TimkenSteel Corporation, Trelleborg Sealing Solutions, Wafangdian Bearing Co Ltd., Zhejiang Tianma Bearing Co Ltd., ZYS Bearing Co Ltd.

Technological Advancements Reshaping The Aerospace Bearings Market
Technological advancement has emerged as a key trend gaining popularity in the aerospace bearings market. Major companies operating in the aerospace bearings sector are focused on developing new technological solutions to meet consumer demand. For instance, in January 2021, NSK Ltd., a Japan-based manufacturer of bearings developed a new machine tool bearing technology that reduces run-in time, makes spindle assembly easier, and also improves reliability. This technology reduces temperature rise under oil-air lubrication and improves cage strength. It is more durable and reliant.

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Key Segments -

The aerospace bearings market covered in this report is segmented -

1) By Bearing Type: Plain Bearing, Roller Bearing, Ball Bearing, Others
2) By Material: Stainless Steel, Fiber-Reinforced Composites, Engineered Plastics, Ceramics, Alloy
3) By Application: Landing Gear, Cockpit Control, Aerostructure, Aircraft Systems, Engine And APU Systems, Doors, Aircraft Interiors

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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