The global aerospace bearing market size was US$ 7.1 billion in 2021. The global aerospace bearing market is forecast to grow to US$ 13 billion by 2030, registering a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030. 

Aerospace bearings are used in aircraft to lower radial and axial stresses on rotating parts. Thus, it improves the aircraft's fuel efficiency dramatically. These aerospace bearings are also designed to lower aircraft maintenance costs and timelines. Different types of bearings are ball bearings, plain bearings, and roller bearings, are already. All aircraft, including wide-body planes, narrow-body planes, freighters, and regional jets, use aerospace bearings. 

Factors Affecting the Aerospace Bearing Industry 

The aerospace bearing market is forecast to grow due to the rapid expansion of the aviation industry globally. In addition, rising global air passenger traffic and enhanced aircraft movements are expected to boost the aerospace bearing market during the study period. 

Market players in the aerospace bearings industry are highly focused on introducing lightweight and fuel-efficient solutions. Thus, it will contribute to market growth. 

Increased demand for new aircraft for long-haul and short-haul flights is expected to propel the aerospace bearing market forward over the forecast period. 

Growing urban population and rising disposable income will benefit the global aerospace bearing market during the study period.

Impact of COVID-19 on Aerospace Bearing Market:

The entire travel industry witnessed significant loss due to the COVID-19 epidemic. Due to the spreading virus, governments of various nations imposed travel restrictions. Thus, the aerospace bearing market also witnessed a decline in demand. 

Because of the harsh conditions, the aerospace bearing market players were unable to manufacture bearings for airplanes, causing a disruption in demand and supply channels. Thus, the global aerospace bearing market growth declined due to the COVID-19 pandemic. 

Regional Analysis

North America holds the highest market share in the aerospace bearing industry. The aerospace industry is growing rapidly in the region. In addition, Asia Pacific is forecast to register the highest CAGR due to the growing urban population. In addition, the increasing traffic in the aviation industry of both regions is driving the growth of the market. 

Competitors in the Market

• National Precision Bearing
• SKF
• JTEKT
• RBC Bearing
• Aurora Bearing
• Pacamor Kubar Bearings
• Timken
• AST Bearings
• New Hampshire Ball Bearings
• NTN
• Kaman
• Rexnord
• Schaeffler
• NSK
• Regal Beloit.
• Other Prominent Players

Market Segmentation

The global aerospace bearing market segmentation focuses on Type, Material, Application, Aircraft Type, and Region. 

Based on the type, the aerospace bearing market has been segmented into –

• Roller
• Ball
• Plain

Based on material, the aerospace bearing market has been segmented into –

• Stainless Steel
• Fiber-reinforced Composites
• Metal-backed
• Engineered Plastics
• Aluminum Alloys
• Based on Application
• Landing Gear
• Engine
• Flight Control System
• Aerostructure

Based on the aircraft type, the aerospace bearing market has been segmented into –

• Narrow Body Aircraft
• Wide-Body Aircraft
• Very Large Body Aircraft
• Regional Jet

Based on region, the aerospace bearing market has been segmented into –

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America