The new report by Expert Market Research titled, ‘Global Aerospace Bearings Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aerospace bearings market, assessing the market based on its segments like bearing types, aircraft types, materials, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Aerospace Bearings Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8.4%
Applications of Aerospace bearings include those find wide applications in helicopters and military aircraft, and missile systems. ; Such applications are expected to propel the global aerospace bearings market.
Factors such as an increase in focus toward reduction of vehicle weight, growth of global space sector and technological innovations, and focus on green aerospace sector and its impact on bearing supply chain supplement the growth of the aerospace bearings market across the globe.
Additionally, the expansion and development of the aviation sector in developing nations might be linked to the growth of the aerospace bearings market. Aerospace bearing sales are also increasing as a result of rising international air passenger traffic and more frequent aircraft movements.
Aerospace Bearings Industry Definition and Major Segments
A type of machine component called a bearing is used to sustain relative motion and lessen friction between moving elements. Many different industries use bearings, including the automotive, aerospace, wind energy, construction & mining, agriculture, and machine tool industries. It is utilised in aeroplanes to guarantee the smooth operation of the engines, shafts, propellers, and other types of aviation parts.
By bearing type, the market is segmented into:
• Roller Bearing
• Plain Bearing
• Ball Bearing
Based on aircraft type, the market is divided into:
• Fixed Wing
By material, the market is classified into:
• Metal Polymer and Engineered Plastic
• Fibre Reinforced Composites
The major applications of the market are:
• Military Aviation
• Unmanned Aerial Vehicle
• Commercial Aviation
• Business and General Aviation
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Aerospace Bearings Market Trends
Leading companies are offering bearings for the aerospace industry high-quality products by reputed manufacturers are expected to enhance the global aerospace bearings market. Also, factors such as growth in urban air mobility (UAM) platform, the emergence of sensor bearing units, and the increase in the development of additive manufacturing technologies and materials to manufacture bearing are creating significant opportunities for the growth of the market during the forecast period.
The general and 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, thereby propelling the growth of the global market.
Key Market Players
The major players in the market are:
- AB SKF
- JTEKT Corporation
- Schaeffler Technologies AG & Co. KG
- The Timken Company
- RBC Bearings Incorporated
- NSK Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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