The business intelligence report titled ‘Aerospace Bearings Market Size, By Type (Ball Bearing, Tapered Roller Bearing, Cylindrical Roller Bearings, Spherical Bearing, Plain Bearing), By Material (Stainless Steel, Aluminum Alloys, Metal Polymer & Engineered Plastic, Fiber Reinforced Composites, Ceramic), By Platform (Fixed Wing {Narrow Body, Widebody, Regional Jets, Fighter Jets}. Rotary Wing {Helicopters}), By Application (Landing Gear, Engine Components, Doors & Interiors, Flight Control Systems, Cockpit Controls, Aerostructure), By Sales Channel (OEM, Aftermarket), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, elucidates that the aerospace bearings market is slated to witness considerable surge during the forecast period.

Industry analysts and researchers are of the opinion that mounting demand for low-cost carriers, burgeoning air passenger traffic, stringent norms & policies, and necessity for maintenance of in-service and aging fleet are catalyzing aerospace bearings market expansion.

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For the unversed, aerospace bearings play a crucial role in facilitating a failure-proof operation as well as ensuring all the components of the aircraft are in sync with each other so that they can withstand immense pressure and force while in motion.

Elaborating on the market restraints, challenges such as complex systems, high maintenance costs and the requirement for lightweight material to enhance fuel efficiency may restrict progress in the forthcoming years.

Moving on to component segmentation, the rod ends bearing type accounted for 9% of global aerospace bearings market share in 2020 and is expected to garner a substantial valuation over the forecast period end.

In terms of material, the aluminum alloys sub-segment held a considerable market share of nearly 21% in 2020 and is anticipated to grow exponentially through 2027.

From the viewpoint of application, the doors and interiors sub-segment is likely to progress at a healthy CAGR of 6.1% over the study period.

Speaking of platform, the rotary wing sub-segment is touted to grow at a robust pace of 6.8% during the analysis period, contributing a sizable revenue share in the overall industry dynamics.

Geographically, North America market held a coveted position in the recent past and is slated to progress at a CAGR exceeding 6.7% through the assessment period .Meanwhile, Latin America industry accounted for 3.5% of the overall industry share in
2020 and is likely to progress at a CAGR of 5.9% through the analysis timeframe.

The competitive terrain of global aerospace bearings industry is influenced by established players such as AB SKF, Nachi-Fujikoshi Corporation, JTEKT Corporation, NTN Corporation, Timken Company, Minebea Intec, ZWZ Wafangdian Bearing Co. Ltd, C&U Group, Schaffler AG, NSK Ltd., Luoyang Bearing Corporation (LYC), and GGB Bearing Technology.