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