Aerospace Bearings Market size is anticipated to grow at a CAGR of over 8% between 2023 and 2032

Aerospace Bearings Market Size

Aerospace Bearings Market size was estimated at USD 7.3 billion in 2022 and is expected to grow at a CAGR of more than 8% from 2023 to 2032. Space exploration demand will drive the global market demand forward.

As the globe aspires for cleaner skies, electric and hybrid aircraft development is taking off. These new planes utilize electric propulsion, which needs advanced aerospace bearings in order to ensure everything operates well. These are not the standard hardware store bearing. They are light and are made to aid in minimizing the weight of the plane. Why is weight significant? Lighter planes consume less energy to be airborne, hence more efficient, and have an extended range. Electric motors, the powerplants of these planes, produce heat when they’re under heavy load. Excessive heat can damage the bearings, so engineers must design in methods to control the temperature. By maintaining the bearings within a safe operating range, they provide consistent performance and avoid any unpleasant surprises. Thus, as the marathon towards sustainable flight gathers momentum, these advanced aerospace bearings are taking center stage to make electric and hybrid planes a reality. They are the behind-the-scenes heroes, making it possible to develop a cleaner, more efficient means of flight.

Aerospace Bearings refers to a specialized component designed to enable relative motion between moving parts while reducing friction and supporting loads. These Bearings play a critical role in ensuring the smooth and efficient operation of various aerospace systems including aircraft, spacecraft & satellites.

Aerospace Bearings Market Report Attributes
Report Attribute Details
Base Year 2022
Aerospace Bearings Market Size in 2022 USD 7.3 Billion
Forecast Period 2022 to 2032
Forecast Period 2022 to 2032 CAGR 8%
2032 Value Projection USD 15 Billion
Historical Data for
2018 to 2022
No. of Pages
200
Tables, Charts & Figures
394
Segments covered
Type, Material, Application, Platform, Sales Channel
Growth Drivers
Stringent regulations and safety standards
Globalization of aerospace supply chains
Increasing demand for space exploration
Growing defense expenditures
Pitfalls & Challenges
Slow certification processes
High R&D costs
What are the growth opportunities in this market?

The aerospace industry requires Bearings to function in extreme environments such as high temperatures, vibrations, and pressure differentials. Creating Bearings that can perform reliably under these conditions can be technically demanding and may involve specialized materials & design knowledge. These aspects can act as a barrier to market growth.

COVID-19 Impact
The COVID-19 pandemic rocked the world, and the aerospace industry was not spared. The manner in which we traveled was turned on its head, and that took a significant toll on the businesses that produce those shiny planes to fly. To start with, the supply chain was completely disrupted. Components couldn’t make it where they were needed in a hassle-free manner, which made it difficult for factories to continue producing planes. And with fewer passengers in the air, airlines were grounding their aircraft, so there was a lot less demand for new ones. And this domino effect dramatically affected the aerospace bearing industry. New aircraft require new bearings, and old aircraft require maintenance, so when the aircraft were grounded, the demand for bearings plummeted too. It was a bad time for the business. But things weren’t all bad. While the commercial aviation sector was in trouble, other sectors such as cargo transport and defense remained stable. That left some demand for aerospace bearings, but different kinds than previously. The sector had to adjust rapidly to keep pace with the evolving requirements.

Aerospace Bearings Market Trends
Aerospace technology is becoming more streamlined and integrated, and the bearings employed in these systems are also becoming more streamlined. Engineers are developing smaller, more efficient bearings to have in the cramped quarters of small satellites, drones, and other unmanned vehicles. This is significant because it allows these vehicles to transport more payload, travel more freely, and function better overall. As the population of smaller planes becomes more prevalent, the demand for smaller, more powerful bearings will continue to increase. The bearing market is meeting this demand by creating new technologies that reduce the size and increase the strength of bearings. This is making aerospace technology even more effective and efficient.

Aerospace Bearings Market Analysis
Discover more about the important segments defining this market

On the basis of material, the aerospace bearings market is classified into stainless steel, aluminum alloys, metal polymer & engineered plastic, fiber reinforced composites and ceramic. The metal polymer & engineered plastic segment was worth more than USD 850 million in 2022 and is anticipated to expand at a profitable rate from 2022 to 2032. The self-lubricating properties of metal polymer & engineered plastic Bearings make external lubrication unnecessary. This property minimizes maintenance, increases Bearings lifespan, and improves operational efficiency, making them a desirable option for aerospace use.

Engineered plastics & metal-polymer composites exhibit superior corrosion resistance, a significant property for aerospace systems deployed in varied & demanding environments. This resistance strengthens the reliability & endurance of Bearings, particularly in use in moist, chemical-exposed, & high-temperature environments. Development in new technologies, including drones, urban air mobility vehicles & small satellites, is propelling the need for space-saving, light weight, & efficient components. Engineered plastic and metal polymer Bearings find a natural fit with the needs of these revolutionary aerospace vehicles.

Aerospace Bearings Market Share

The aerospace bearings market is highly competitive owing to the presence of key players such as

• Kaman Corporation
• SKF
• JTEKT Corporation
• Schaeffler AG
• The Timken Company
• NSK Ltd.
• NTN
• C&U
• ZWZ
• LYC
• Minebea
• NACHi
• GGB (EnPro Industries)

Increasing investments in facility centers & acquisitions by industry participants are expected to expand their foothold in the commercial industry. Similarly, significant investments in R&D to gain technological competitiveness and aggressive business strategies, such as technological launches, collaborations & long-term agreements, to capture market shares are positively impacting the aerospace bearings industry.