The global aerospace bearings market, valued at $5.24 billion in 2020, is projected to grow significantly, reaching $14.24 billion by 2030, according to a report by Allied Market Research. The market is expected to grow at a compound annual growth rate (CAGR) of 10.6% from 2021 to 2030.
Asia-Pacific currently leads the market in terms of revenue, followed by North America, Europe, and LAMEA (Latin America, the Middle East, and Africa). China contributed the largest share of the market in 2020, while Japan is expected to experience significant growth during the forecast period, driven by increased aerospace production in the country.
Aerospace bearings are essential components in aircraft, helping to reduce friction between moving parts and allowing smooth, linear movement around a fixed axis. These bearings come in various types, including ball bearings, roller bearings, spherical ball bearings, cylindrical ball bearings, and needle roller bearings. They are used across different aircraft types, such as commercial airplanes, helicopters, UAVs (unmanned aerial vehicles), and drones.
The growing demand for high-performance and durable bearings, driven by advancements in the aviation industry, is expected to fuel market growth. This demand has led to the development of bearings in various sizes to suit specific applications.
Additionally, leading industry players have introduced innovative products, such as sensor-based and self-lubricating bearings, which improve operational efficiency when integrated into machines, further contributing to market expansion.
The global aerospace bearings market is categorized by bearing type, aircraft type, application, and region. By bearing type, the market includes plain bearings, roller bearings, ball bearings, and others. By aircraft type, the market is divided into fixed-wing, rotorcraft, and other categories. In terms of application, the market is segmented into commercial aviation, military aviation, business and general aviation, and unmanned aerial vehicles. The market is analyzed across several regions, including North America, Europe, Asia-Pacific, and LAMEA.
Several factors are expected to support market growth, including the increasing focus on reducing vehicle weight, technological innovations, the growth of the global space sector, and the rise of the green aerospace sector. However, challenges such as the high cost of raw materials, rising operational costs, seasonal serviceability, and delays in obtaining accreditations may hinder the market’s growth.
Furthermore, the emergence of urban air mobility (UAM) platforms, the development of sensor bearing units, and advancements in additive manufacturing technologies and materials for bearing production present significant opportunities for growth in the coming years.
