Covid-19 Impact on Aerospace Bearings Market Pegged for Robust Expansion by 2026

February 16, 2022

Stratview Research has recently added a new report titled ‘Aerospace Bearings Market’ to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on the critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Aerospace Bearings Market.

The years considered in this report to estimate the market size of the market are:

• History Year: 2017-2021

• Forecast Year: 2021 to 2026

The key players covered in this report are –

• AB SKF
• JTEKT Corporation
• MinebeaMitsumi Group
• NSK Ltd.
• NTN Corporation
• RBC Bearings Incorporated
• Schaeffler Technologies AG & Co. KG
• The Timken Company
• LYC Bearing Corporation
• Harbin Bearing Manufacturing Co.

Market Highlights

The long-term outlook still seems fruitful, well backed by the industry’s buoyant nature and strong fundamentals. The lift of Boeing’s B737Max in October 2020, gradual opening up of travel restrictions, rebounding aircraft deliveries, and Airbus’ significantly healed revenue (reaping profit in Q1 2020 as opposed to grave loss in Q1 2020) are among the few key factors signaling towards healthy and quick recuperation, helping the market to grow at a CAGR of 7.8% during 2021-2026 to reach the figure of US$ 1.9 Billion in 2026.

Segment-wise analysis

Based on the bearing type, the market is segmented as ball bearing, roller bearing, and plain bearing. Ball bearings are further classified as angular contact ball bearing, and deep groove ball bearing. Similarly, roller bearings are further classified as tapered roller bearings, cylindrical roller bearings, spherical roller bearings, and others. Ball bearings are expected to remain the larger segment of the market during the forecast period, owing to their extensive usage throughout the airframe and engine assemblies.

Based on the application type, the market is segmented as engine & transmission, flight control system, landing gear, airframe, auxiliary system, EOTS, and others. Engine & Transmission is projected to be the leading segment of the market during the forecast period. As engines and airplanes get lighter, faster, and more fuel-efficient, the operating temperature of engines continues to rise, creating a demand for high-temperature-resistant bearings (rated to operate close to 900 or more degrees Fahrenheit continually). EOTS segment is gaining traction in the market given the rising popularity of the electro-optical targeting system (EOTS) in aerial warfare.

In terms of regions, 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.

On the other side, 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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https://www.stratviewresearch.com/Request-Sample/2207/aerospace-bearings-market.html#form

The main steps in the investigation process are:

• Stratview Research has gathered the raw data from industry experts and direct research analysts using primary and secondary sources.
• The experts also classify the information obtained by qualitative and quantitative data to place it in a proper way to make final conclusions.
• This report also provides market intelligence and throws light on critical insights into the market dynamics.

The information gathered in the report enables strategic decision making for the existing players as well as those willing to enter the market. The report contains growth drivers and constraints, market trend and forecast analysis, market segment trend, competitive landscape and dynamics, attractive market segments and associated growth opportunities, etc.

About Stratview Research

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Author : Meha Prasad