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New York, NY -- (SBWire) -- 10/16/2017 --Aerospace bearings are amongst vital components in an aircraft. Aerospace bearings are used in aircraft system to ensure a constant superior performance despite of dynamic changes in air pressure and temperature. Aerospace bearings are used in various applications such as landing gear struts, hydraulic fuel pumps, wing flap actuators, electric actuators, flight control system, engines, seat mechanisms and overhead baggage compartments. Roller bearing are extensively used in most of the parts of aircraft. Among the materials, the fiber reinforced composites are highly preferable due to high load carrying and self-lubricating capacity which increases reliability of bearings under severe conditions.

Aerospace bearings are generally composed of materials such as carbon chrome steel, stainless steel, titanium carbide coated, M50 tool steel and corrosion resistant. Performance of bearings directly depends on the quality of bearing steel. Increasing research and developments (R&D) and technological innovations have triggered the need for high-performance aerospace bearings to operate in adverse environments. Innovation in aerospace bearings such as use of lightweight materials for design has helped in reducing fuel consumption, improved performance in extreme conditions and reducing maintenance operation.
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Aerospace Bearings Market: Market Dynamics

Growing number of aircraft deliveries is expected to drive the growth of aerospace bearings market over the forecast year. Additionally, the increasing demand for aerospace bearings in defense aviation and commercial sector also expected to drive the growth of aerospace bearings market. Moreover, there has been a significant growth in air traffic in last few years and there is an indication that the traffic will continue to expand in the forecast years, which will ultimately fuel the growth of aerospace bearings market. Furthermore, increasing focus on reducing maintenance cost and fuel consumption are some factors anticipated to drive the growth of aerospace bearings market.

Backlog in current aircraft order is expected to be the major factor which hinder the growth of aerospace bearings market. Moreover, the high production cost of raw materials also acts as a restraining factor in the growth of aerospace bearing market.

Aerospace Bearings Market: Segmentation

The global aerospace bearings market can be segmented on the basis of product type, material, applications and aircraft type.

On the basis of product type, the global aerospace bearings market can be segmented as:

Roller Bearings
Ball Bearings

On the basis of material, the global aerospace bearings market can be segmented as:

Stainless Steel
Engineered Plastics
Aluminum Alloys
Fiber Reinforced Composites

On the basis of applications, the global aerospace bearings market can be segmented as:

Landing Gear Struts
Hydraulic Fuel Pumps
Wing Flap Actuators
Electric Actuators
Flight Control System
Engines
Seat Mechanisms
Overhead Baggage Compartments

On the basis of aircraft type, the global aerospace bearings market can be segmented as:

Wide body aircraft
Narrow body aircraft
Very large aircraft
Business jet
Helicopter
Regional transport aircraft
Fighter jet

Aerospace Bearings Market: Region-Wise Outlook

During the forecast period, the Asia Pacific will be closely followed by North America. Both of these regions are expected to witness significant growth in aerospace bearings market due to increasing air passenger traffic. Japan, in particular, is expected to witness marginal growth of aerospace bearings market due to increased need of high-tech and modernized aircraft. Latin America and Europe are anticipated to grow at a significant CAGR during the forecast period owing to growth in bearings industries.

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Aerospace Bearings Market: Market Participants

Some of the market participants identified across the value chain of the global aerospace bearings market include:

TRANS-PACIFIC AEROSPACE
GGB Bearing Technology
Napoleon Engineering Services
JTEKT Europe Bearings BV.
NTN-SNR Corporation
RBC Bearings Incorporated.
The Barden Corporation
AHR International
New Hampshire Ball Bearings, Inc.
Regal Beloit Americas, Inc.
Aurora Bearing Company
National Precision Bearing
The Timken Company
Kaman Corporation
The NSK limited
SKF Group