The Aerospace Bearings Market is segmented by Bearing Type (Ball Bearing [Angular Contact Ball Bearing and Deep Groove Ball Bearing], Roller Bearing [Tapered Roller Bearing, Spherical Roller Bearing, Cylindrical Roller Bearing, and Others], and Plain Bearing), Material Type (Metallic Bearings, Non-Metallic Bearings, and Hybrid Bearings), Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and UAV), Application Type (Engine & Transmission, Flight Control System, Landing Gear, Airframe, Auxiliary System, EOTS, and Others), End-User Type (OE and Aftermarket), and Region (North America, Europe, Asia-Pacific, and Rest of the World).

Segment Analysis

Bearing Type

The market is segmented as ball bearing, roller bearing, and plain bearing. Ball bearings are further classified as angular contact ball bearing, and deep groove ball bearing. Similarly, roller bearings are further classified as tapered roller bearings, cylindrical roller bearings, spherical roller bearings, and others. Ball bearings are expected to remain the larger segment of the market during the forecast period, owing to their extensive usage throughout the airframe and engine assemblies.

Application Type

The market is segmented as engine & transmission, flight control system, landing gear, airframe, auxiliary system, EOTS, and others. Engine & Transmission is projected to be the leading segment of the market during the forecast period. As engines and airplanes get lighter, faster, and more fuel-efficient, the operating temperature of engines continues to rise, creating a demand for high-temperature-resistant bearings (rated to operate close to 900 or more degrees Fahrenheit continually). EOTS segment is gaining traction in the market given the rising popularity of the electro-optical targeting system (EOTS) in aerial warfare.

Covid-19 Impact

Even before the COVID-19 pandemic, the global aerospace industry was under stress, owing to the B737Max grounding in 2019. The sudden outburst of COVID-19 further deepened the market challenges, causing unimaginable disruption and losses for the stakeholders. The aerospace bearings market typically relies on the organic growth of the aerospace industry and follows the trajectory as the latter. Key challenges that arose in front of the industry stakeholders on account of the pandemic were reduced demand, supply chain disruptions, financial pressure, and workforce impairment.

However, the long-term outlook still seems fruitful, well backed by the industry’s buoyant nature and strong fundamentals. The lift of Boeing’s B737Max in October 2020, gradual opening up of travel restrictions, rebounding aircraft deliveries, and Airbus’ significantly healed revenue (reaping profit in Q1 2020 as opposed to grave loss in Q1 2020) are among the few key factors signaling towards healthy and quick recuperation.

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