Aerospace Bearings Market Size, Share & Industry Analysis, By Platform (Fixed-Wing, Rotary-Wing and UAVs), By Product Type (Plain Bearings, Roller Bearings, Ball Bearings, Roller Screws, and Ball Screws), By Material (Stainless Steel, Fiber Reinforced Composites, Engineered Plastics, Aluminum Alloys, and Metal Backed), By Application (Engine, Aero-structure, Landing Gear, and Others), and Regional Forecast, 2024-2032

The global aerospace bearings market size was USD 12.00 billion in 2023. The market is projected to grow from USD 13.01 billion in 2024 to USD 21.73 billion by 2032 at a CAGR of 6.62% over 2024-2032. North America dominated the aerospace bearings market with a market share of 38.92% in 2023. The sudden rise in CAGR is attributable to the market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Over the last three decades, aerospace bearings have evolved significantly. The earlier focus on providing lightweight, durable, and reliable bearings has changed to the technologically advanced composite materials-based bearings. The new generation aeronautical bearings have additional features, such as reduce weight and space, which enables minimal friction and noise, further leading to lesser maintenance costs. These features would enhance these bearings efficiency and help them operate at minimal failures.

The overall impact of the COVID-19 pandemic on the spacecraft market has been negative. The demand for total industrial aircraft deliveries weakened due to a slowdown in air traffic in various regions of the world. According to Airbus SAS, the company delivered 863 commercial aircraft in 2019. However, 566 commercial aircraft were delivered in 2020, with 7,184 orders in 2020. Thus, the outbreak of the COVID-19 pandemic negatively affected  planned deliveries in 2020. A backlog of deliveries and bulk orders slowed the demand for aircraft systems and components such as bearings and propellers in 2020 and 2021.

Travel restrictions affected deliveries to neighboring countries, while various restrictions and safety guidelines increased the cost of bearings due to procedures such as inspection, testing, and equipment upgrades .

• In October 2020, AST Bearings, one of North America's largest bearing suppliers, developed new protocols for transporting goods and services during the COVID-19 pandemic.

Aerospace Bearings Market Trends

Surging Adoption of Composite Bearings is a Prominent Trend

The bearing used in aircraft has strict requirements for weight, performance, and quality. They must be designed and developed in such a way that they should withstand high pressure, extreme loads, and fluctuating temperature during operations. Moreover, they should be lightweight and cost-effective.   

Bearing manufacturers, such as TriStar Plastics Corporation and other key players are preferring polymer bearings for aircraft applications instead of stainless steel or other materials. Polymer has key features, such as high load-bearing capacity, performing effectively without lubrication, durable, and lesser maintenance. These operational features enable the use of composite bearing in the tilt, lift, and pivot points in the steering, wings, and fuselages in the aircraft. These advancements will propel the growth during the forecast period of this market.

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Aerospace Bearings Market Growth Factors

Rising Demand for Lightweight Helicopters Will Boost the Market Growth

For the last couple of years, there has been a rise in the demand for lightweight helicopters for various commercial and military applications. The rise in emergency air medical services is one of the major reasons for the growth of the market. As stated by the Association of Air Medical Services (AAMS), over 560,000 patients in the U.S. use air medical services per year. Moreover, the rising lightweight combat helicopters for border surveillance and transporting military troops will boost the aerospace bearings market growth.

In December 2020, Sikorsky Aircraft Corporation, for instance, received a contract of worth USD 507 million from the U.S. Army to deliver UH-60M and HH-60M combat helicopters. These technologically advanced combat helicopters are equipped with advance aircraft bearings. This would create high demand for the helicopter service and thus facilitate the demand for new helicopters with advanced systems and components.

Technological Advancement in Aircraft Engines Will Facilitate the Market Growth

The aircraft engine comprises a large number of bearings. Engine manufacturers are focusing on designing and developing fuel-efficient and lightweight engines to meet the stringent norms provided by the Federal Aviation Administration (FAA) and other agencies. The high demand for fuel-efficient engines and lightweight components will force aircraft bearing manufacturers to produce technologically advanced composite bearings for aircraft engines. Leading aircraft manufacturer, Airbus SAS, for instance, proposed its three-concept- zero-emission aircraft, a step toward manufacturing eco-friendly components and systems.

RESTRAINING FACTORS

Stringent Rules & Regulations Related to Cost of Bearing Material to Hinder Market Growth

The price of the bearing material plays a decisive role in the total costs of aviation and space bearings. Manufacturers usually use high quality steel. Fluctuations in the price of steel greatly affect the total price. In addition, a sudden change in the price of steel and the ecosystem controlled by the state can lead to a price difference in trade. In addition, the impact of COVID-19 has significantly changed market dynamics. New trade standards and restrictions on cargo transportation increased uncertainty about the demand and supply of space bearings. Hence, stringent standards and fluctuating prices of raw materials may restrain the growth of the market.

Aerospace Bearings Market Segmentation Analysis

By Platform Analysis

Rotary Wing Segment is Anticipated to be the Fastest-growing Segment During the Forecast Period

Based on the platform, the market is divided into fixed-wing, rotary-wing and UAVs.

The fixed-wing segment is anticipated to be the largest segment in 2023 due to the increasing demand for commercial aircraft in the upcoming years. According to Airbus SAS, in the next decade, there will be a high demand for around new 40,000 aircraft. This will create novel opportunities for aerospace bearing manufacturers to establish a strong partnership with new companies, along with providing services to existing customers.

• For instance, in May 2021, Triumph Group, Inc. (TGI) and Boeing Commercial Airplanes (BA) signed an agreement for providing critical system components. Triumph is a key supplier of hydraulic and locking systems and components across multiple Boeing programs. This program will boost the growth of the market in the upcoming years

The rotary-wing segment is projected to be the fastest-growing segment during the forecast period. The growth of the segment is attributed to the high demand from the air ambulance domain.

By Product Type Analysis

Roller Bearing to be Fastest-growing Segment Fueled by Rising Usage in Aircraft Components and Systems

Based on the product type, the market is classified into plain, roller and ball bearings along with roller screws, and ball screws. The ball bearing and roller bearing segments play a vital role in transferring the energy from one shaft to another shaft with lesser friction and lesser loss of the net power output. The use of ball and roller bearings in aircraft components and systems are equally important and thus, both segments were predicted to contribute to a higher market share in 2023.

The roller screws segment is anticipated to grow substantially during the forecast period. The segment's growth is attributed to the wide application range of rotable systems, such as wing flaps, driveshaft, and other tailbone components in the aircraft. The rotary and the linear motion of roller screws assist in providing the required motion in the limited space. Companies, such as August Steinmeyer GmbH & Co. KG, Ewellix, and other key suppliers would contribute to the major market share in the roller screw segment.

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By Material Analysis

Engineered Plastics Segment to Exhibit Significant Growth Stoked by its Lightweight and Durability Properties

Based on the material, the market is divided into stainless steel, fiber-reinforced composites, engineered plastics, aluminum alloys, and metal-backed. The rising use of engineering plastics in flight control systems and aerostructure components will boost the growth of the market. It has properties, such as lightweight and durability. Hence, engineered plastics will be the fastest-growing segment during the forecast period.

Stainless steel is a widely used material in aircraft bearing as it is most widely available at a lesser cost as compared to other bearing materials. Thus, the stainless steel segment would contribute to held the largest market share during the forecast period.

Fiber-reinforced composites are generally used in a bearing to strengthen its properties, such as ductility and reliability. Similarly, aluminum alloys-based bearings are lightweight and have high strengths as compared to stainless steel and fiber reinforced composites material.

By Application Analysis

Engine Segment to Show Considerable Growth Backed by High Demand for Advanced Engines

Based on the application, the market is divided into engine, aero-structure, landing gear, and others. The engine comprises of roller bearings and these assist in providing the required transmission in the form of thrust to the engine. These bearings undergo high stress and strain during operations, thus high-quality and precision need to be maintained during the manufacturing of roller bearings for engines. Thus, few key players are manufacturing high precision bearings for engines, such as SKY Evolution, Koyo Bearings, and New Hampshire Ball Bearings, Inc. The rising demand for advanced engines will boost the growth of the segment.

The aerostructure segment is expected to grow at a significant rate during the forecast period owing to the rising maintenance, repair, and overhaul (MRO) programs across the globe.

Landing gear exhibits high stress and load during the aircraft landing. Thus, research and development in the design of lightweight and cost-effective aircraft bearings will propel growth of this segment. The others segment comprises of auxiliary power unit (APU), flight control systems, aircraft interior systems, and cockpit components.

REGIONAL INSIGHTS

The global market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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The North America market size stood at USD 4.67 billion in 2023 and is anticipated to dominate the market due to the presence of several aeronautical bearing providers and the availability of advanced machining facilities in the region. AST Bearings, Aurora Bearings, GGB Bearings Technology, National Precision Bearings, Beaver Aerospace & Defense, Inc., and New Hampshire Ball Bearings are some of the major players in the U.S.

The market in Europe is expected to grow significantly during the forecast period. The increasing investment by key players to develop and adopt advanced technologies that will improve the aerospace bearing design and development is likely to drive the market growth.

• For instance, in January 2021, Germany-based August Steinmeyer GmbH & Co. KG. designed ball screws for linear actuators for electric cylinders, machine slides, and other motion platforms.

The market in Asia-Pacific is projected to grow at the highest CAGR in the forthcoming years. The improving economy of emerging countries, such as China and India and the increasing aerospace and defense investment by governments are anticipated to boost the market growth.

The growing manufacturing facilities and technology adoptions in the aerospace sector will increase the demand for aerospace bearings in the rest of the world.

List of Key Companies in Aerospace Bearings Market

GGB Bearings Technology is a Leader in Offering Aerospace bearing with its Presence across the Globe

The market competition has raised the standards for new entrants, thereby challenging major players based on their services' quality and prices. Thus, key players, such as GGB Bearings Technology are focused on strategic mergers & acquisitions and geographic reach, specifically in Asian countries to endure their global market positions.

GGB Bearings Technology, for instance, provides ball, roller and plain bearings along with screws for various industries across the globe. High investments in aircraft modernization programs and advanced technologies will help the company sustain its market position.

LIST OF KEY COMPANIES PROFILED:

• AST Bearings (The U.S.)


• Aurora Bearings (The U.S.)


• GGB Bearings Technology (The U.S.)


• JTEKT (Japan)


• Kaman Specialty Bearings (Germany)


• National Precision Bearings (The U.S.)


• New Hampshire Ball Bearings (The U.S.)


• August Steinmeyer GmbH & Co. KG (Germany)


• UMBRAGROUP (Italy)


• Kugel Aerospace & Defence (The U.K.)


• Thomson Industries, Inc. (India)


• Beaver Aerospace & Defense, Inc. (The U.S.)

KEY INDUSTRY DEVELOPMENTS:

• January 2021 – Auburn Bearing & Manufacturing Inc. acquired the assets of Aurotek TSB Inc. Aurotek TSB specializes in the production of precision thin-section bearings for a large range of industries. These are used in a variety of applications, such as defense weapon systems, aerospace guidance systems, and defense systems.


• February 2020 – Kaman Air Vehicles, a division of Kaman Corporation signed a strategic distribution agreement with the exclusive rights to market its spare parts in the U.A.E. Trust International is a key supplier of premium solutions to the U.A.E. Armed Forces and security establishment.

REPORT COVERAGE

An Infographic Representation of Aerospace Bearings Market

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The global aerospace bearings market research report provides a detailed analysis of the market and focuses on key aspects such as key service providers, types, applications, and services. Moreover, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the market report encompasses several direct and indirect factors that have contributed to the growth of the market over recent years.

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Report Scope & Segmentation