Aerospace Bearings (Stainless Steel, Fiber-Reinforced Composites, Engineered Plastics) Market 2017 - Global Forecast to 2022 - Research and Markets
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The aerospace bearings market was valued at USD 7.88 billion in 2016 and is projected to reach USD 11.19 billion by 2022, at a CAGR of 6.01% during the forecast period.
The increasing number of aircraft deliveries and upgradation of aircraft to reduce operating cost are the key drivers for the aerospace bearings market. Backlogs in current aircraft orders act as a restraint in growth of the aerospace bearings market.
Based on type, the roller segment of the aerospace bearings market is expected to grow at the highest CAGR during the forecast period. As roller bearings find application in maximum parts of an aircraft, the increasing demand for aircraft in the future is expected to drive the demand for bearings.
Based on material, the fiber-reinforced composites segment of the aerospace bearings market is anticipated to grow at the highest CAGR during the forecast period. This segment is expected to grow, as these bearings support high static and dynamic loads, and are ideal for corrosive environments such as seawater and acidic.
North America led the aerospace bearings market in 2016
Market Dynamics
Drivers
Increase in the Number of Aircraft Deliveries
Upgradation of Aircraft to Reduce Operating Cost
Restraints
Existing Backlogs of Aircraft Deliveries
Rising Raw Material Cost, and High R&D Investments
Opportunities
Growing Use of Fiber-Composite and Thermoplastic Bearings
Challenges
Delay in Obtaining Quality Accreditations
Companies Mentioned
AST Bearings LLC
Aurora Bearing Company
Enpro Industries, Inc. (GGB Bearings Technology)
JTEKT Corporation
Kaman Corporation
NSK Ltd.
NTN Corporation
National Precision Bearing
New Hampshire Ball Bearings, Inc.
Pacamor Kubar Bearings
RBC Bearings Inc.
Regal Beloit Corporation
Rexnord Corporation
SKF Group
Schaeffler Group
The Timken Company
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Next Bearings Market is Estimated to Generate $140,792 Million, Globally, by 2022-Allied Market Research
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