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-Major aviation bearing market participants include Kaman Corporation, SKF, JTEKT Corporation, Schaeffler AG, The Timken Company, NSK Ltd., NTN, C&U, ZWZ, LYC, Minebea, NACHI, GGB (EnPro Industries).

Selbyville, Delaware, December 8, 2021/PRNewswire/ - According to the latest research by Global Market Insights Inc., the aviation bearing market is expected to reach US$1.8 billion by 2027. Strong demand for aerospace applications. Worldwide repair and maintenance costs are expected to drive overall growth within the forecast period.

The COVID-19 outbreak has affected various industrial sectors, of which aerospace is one of the most influential sectors. National blockades and air travel restrictions are affecting domestic and international flights. In addition, the slowdown in the transportation of non-essential goods and the disruption of the distribution chain have had a significant impact on the aviation industry. This also reduces the sales of various types of aircraft and the MRO demand for bearings and other components. The COVID-19 crisis has negatively affected several operators in the market.

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By 2027, the roller bearing segment is expected to achieve a growth rate of 6.6%. Similar to wheels, roller bearings enable equipment to roll, reducing friction between the bearing surface and its rolling surface. Roller bearings are used in many fields such as engines, cockpit control, landing gear and aerospace structures.

Due to the increasing demand for lightweight and environmentally friendly products in aerospace applications, the fiber-reinforced composite material segment is valued at USD 75 million in 2020. Due to the cost-effectiveness and durability of metal, traditional bearings are mainly made of stainless steel. In the past few years, some manufacturers have focused on research and development to produce lighter weight and more cost-effective alternatives, such as fiber-reinforced composites and ceramics.

It is estimated that by 2027, the compound annual growth rate of aviation structural applications will reach 6.8%. Roller bearings are mainly used in the design of aerospace structures. The aerospace structure of the aircraft needs to be strong to withstand the special operating environment and provide durability.

Due to the increasing demand for new fixed-wing aircraft, by 2027, the fixed-wing part will occupy more than 89% of the market share. It is expected that the demand for fixed-wing aircraft in the Asia-Pacific region and the Middle East will increase significantly in the next few years.

The aviation bearing market in the Asia-Pacific region is expected to grow at a compound annual growth rate of more than 6% between 2021 and 2027. Countries in the Asia-Pacific region, including China, Japan, and India, are observing a huge demand for aviation bearings in 2020. The COVID-19 pandemic has forced the entire Asia-Pacific region to shut down, and supply disruptions to chain stores in the region are attributed to limited licensed transportation. Many countries in the Asia-Pacific region are under severe lockdown due to the closure of the aerospace sector and have suffered huge losses.

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The main companies operating in the market are Kaman Corporation, SKF, JTEKT Corporation, Schaeffler AG, The Timken Company, NSK Ltd., NTN, C&U, ZWZ, LYC, Minebea, NACHI, GGB (EnPro Industries), etc.

Report catalog (ToC):

Chapter Three Aviation Bearing Industry Insights

3.1 Industry Segmentation 3.2 Industry Structure, 2017-2027 3.3 COVID 19 Impact on Industry Structure 3.4 Industry Ecosystem Analysis 3.4.1 Distribution Channel Analysis 3.4.2 Value Chain Interruption Analysis (COVID 19 Impact) 3.4.3 Supplier Matrix 3.5 Cost Structural analysis 3.6 Technology landscape 3.7 Regulatory landscape 3.8 Industry influence 3.8.1 Growth drivers 3.8.2 Industry traps and challenges 3.9 Innovation and sustainable development 3.10 Growth potential analysis, 2020 3.11 Porter analysis 3.12 Company market share analysis, 2020 3.13 PESTEL analysis 3.14 The impact of COVID-19 on the aerospace bearing market

Browse the complete catalog (ToC) @ https://www.gminsights.com/toc/detail/aerospace-bearings-market 

About Global Market Insight

Global Market Insights Inc., headquartered in Delaware, is a global market research and consulting service provider, providing joint and customized research reports and growth consulting services. Our business intelligence and industry research reports provide customers with insightful insights and actionable market data designed and presented to help strategic decision-making. These detailed reports are designed through proprietary research methods and can be used in key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

Arun Hegde Corporate Sales, Global Market Insights Inc., USA Tel: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: sales@gminsights.com

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Source: Global Market Insights Inc.

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