Aerospace Ball Bearings Market by Product Type (Deep Groove, Angular Contact, Self-aligning, High-Precision), Material (Metal, Ceramic, Composite), Application (Engine Systems, Landing Gear Systems, Flight Control Systems, Airframe Systems), & Region for 2024– 2031
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationAerospace Ball Bearings Market by Product Type (Deep Groove, Angular Contact, Self-aligning, High-Precision), Material (Metal, Ceramic, Composite), Application (Engine Systems, Landing Gear Systems, Flight Control Systems, Airframe Systems), & Region for 2024– 2031
Aerospace Ball Bearings Market Valuation – 2024-2031
The growing need for high-performance, fuel-efficient aircraft, along with developments in bearing technologies that improve longevity and operational efficiency across a range of aerospace applications, is expected to propel the aerospace ball bearings market to significant growth. According to the analyst from Market Research, the aerospace ball bearings market is estimated to reach a valuation of USD 12.68 Billion over the forecast subjugating around USD 6.51 Billion valued in 2024.
The increasing use of electric and hybrid-electric propulsion systems in aircraft, combined with a growing emphasis on reducing aircraft weight and improving fuel economy, is expected to drive demand for lightweight and compact ball bearings designed specifically for aerospace applications, fueling the growth of the aerospace ball bearings market. It enables the market to grow at a CAGR of 8.70% from 2024 to 2031.
Aerospace Ball Bearings MarketDefinition/Overview
Aerospace ball bearings are specialized mechanical components that sustain weights, decrease friction, and enable smooth rotational or oscillatory motion in aircraft systems. These bearings are made up of an inner and outer race with several spherical rolling parts that distribute load efficiently while providing minimal resistance. Their uses in the aerospace industry are numerous, including essential systems such as flight control mechanisms, landing gear assemblies, turbine engines, and satellite components that must operate reliably under harsh circumstances and high-stress settings.
What's inside a
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
What are the Aspects Influencing the Growth of the Aerospace Ball Bearings Market?
The increasing global air passenger traffic is driving demand for new aircraft, hence boosting the aerospace ball bearings market. According to the International Air Transport Association (IATA), global air passenger traffic is predicted to exceed 8.2 billion by 2037, nearly doubling from 4.4 billion in 2018.
Increased global defense budgets are driving the production of military aircraft, helicopters, and unmanned aerial vehicles (UAVs), all of which require high-performance ball bearings. According to the Stockholm International Peace Research Institute (SIPRI), global military spending reached USD 1.98 Trillion in 2020, up 2.6% from 2019.
Furthermore, material science advancements are accelerating the creation of more robust and efficient aerospace ball bearings. According to Market Research, the global aerospace bearings market was valued at USD 10.74 Billion in 2023 and is expected to reach USD 16.36 Billion by 2031, rising at a 5.4% CAGR between 2021 and 2028.
Which are the Primary Challenges Faced by the Aerospace Ball Bearings Market?
Aerospace ball bearings are manufactured using modern materials, precision engineering, and tight quality control techniques. These factors contribute to high manufacturing costs, limiting market expansion. Smaller producers struggle to invest in essential equipment and technology, which may lead to market consolidation and less competition.
Furthermore, the aerospace industry is subject to stringent rules and certification standards. Ball bearings used in airplanes must meet stringent safety and performance requirements established by bodies such as the FAA and EASA. Compliance with these requirements is time-consuming and costly, possibly delaying product development and market entry for new players.
Category-wise Acumens
What Factors Contribute to the Increasing Demand for Angular Contact Ball Bearings?
According to analyst, the angular contact ball bearing segment is expected to dominate within the aerospace ball bearings market. Angular contact ball bearings excel at carrying both radial and axial loads, making them excellent for aeronautical applications involving multi-directional forces. This capacity enables more efficient designs in aviation engines, gearboxes, and other important components, resulting in widespread usage in the market.
These bearings are intended to work at high speeds while remaining precise and stable. In aerospace applications with high rotating speeds, such as turbine engines, angular contact ball bearings provide essential performance and dependability, contributing to their market dominance.
Furthermore, angular contact ball bearings provide for a variety of mounting configurations, including single, double, and multi-row. This versatility enables engineers to optimize bearing sets for a wide range of aerospace applications, from propulsion systems to landing gear, making them a popular choice across numerous aircraft subsystems.
How Does the Demand for Engine Systems Contribute to the Sales of the Ball Bearings?
The engine system segment is estimated to hold the largest share of the aerospace ball bearings market during the forecast period. Aircraft engines operate under harsh conditions, necessitating high-precision, long-lasting bearings. Engines require improved ball bearings due to their high temperatures, velocity, and loads. This crucial necessity drives ongoing innovation and investment in engine bearings, which contributes to the segment’s significant market share.
Engine bearings experience high load and wear, necessitating more frequent replacements than bearings in other aircraft components. This greater replacement rate results in continuous and increased demand for engine ball bearings, ensuring the segment’s dominance in the overall aerospace ball bearings market.
Furthermore, the increasing demand for new aircraft, combined with the move toward more fuel-efficient engines, is driving higher engine output. Each new engine requires many ball bearings, therefore this growth directly contributes to the expansion of the engine systems segment in the aerospace ball bearings market.
Gain Access to Aerospace Ball Bearings Market Report Methodology
Country/Region-wise Acumens
What are the Drivers Contributing to the Dominance of North America in the Market?
North America region is estimated to dominate the aerospace ball bearings market during the forecast period. North America is home to several top aircraft manufacturers, which drives demand for aerospace ball bearings. The Aerospace Industries Association estimates that the U.S. aerospace and defense industry earned USD 874 Billion in sales revenue in 2023, with commercial aerospace accounting for a significant portion. This strong industry presence contributes to the region’s leadership in the aerospace ball bearings market.
The significant defense expenditure in North America, particularly in the United States, drives up demand for military aircraft and related components. The Stockholm International Peace Research Institute (SIPRI) estimated that US military spending would reach USD 801 Billion in 2023, accounting for 38% of global military spending. This high level of spending benefits the regional aerospace ball bearings market.
Furthermore, North America is a leader in aircraft technology innovation, including innovative bearing materials and designs. According to the National Science Foundation, the United States will spend around USD 667 Billion on R&D in 2021, with a large chunk going to aerospace and defense. This investment in R&D contributes to North America’s competitive advantage in the aerospace ball bearings market.
What Factors Influence the Market of Aerospace Ball Bearings in the Asia Pacific Region?
The Asia Pacific region is estimated to exhibit the highest growth within the market during the forecast period. The Asia Pacific region is experiencing a spike in air passenger traffic, which is fueling the demand for new aircraft and, as a result, aerospace ball bearings. According to the International Air Transport Association (IATA), the Asia Pacific region is predicted to add 1.8 billion annual passengers by 2035, for a total market of 3.1 billion. This equates to an annual growth rate of 4.7%, the highest among every region worldwide.
Many Asia Pacific countries are substantially boosting their defense budgets, which is driving up demand for military aircraft and related components. According to the Stockholm International Peace Research Institute (SIPRI), military spending in Asia and Oceania reached USD 528 Billion in 2020, up 2.5% from 2019 and 47% from 2011, propelling demand for aerospace components including ball bearings.
Furthermore, several Asia Pacific countries are expanding their domestic aerospace manufacturing capabilities, increasing demand for high-quality components such as ball bearings. For example, the Indian Ministry of Civil Aviation predicts that the Indian aerospace and military market will reach USD 70 Billion by 2030, with the commercial aviation sector growing at a CAGR of 9.4% between 2020 and 2030.
Competitive Landscape
The aerospace ball bearings market is competitive, with several significant competitors contending for market share. Manufacturers focus on delivering a wide range of ball bearings suited to fulfill the severe needs of the aerospace industry, such as low friction, high precision, and endurance.
Some of the prominent players operating in the aerospace ball bearings market include
- SKF Group
- Timken Company
- NTN Corporation
- Schaeffler Group
- NSK Ltd.
- JTEKT Corporation
- GGB Bearing Technology
- RBC Bearings, Inc.
- MinebeaMitsumi, Inc.
- Nachi-Fujikoshi Corp.
- AST Bearings
- Aurora Bearings
- Kaman Specialty Bearings
- LYC Bearing Corp.
- Radial Bearing Corp.
- CSC Bearing Europe GmbH
Latest Developments
- In May 2022, Rolls Royce and Schaeffler announced a 12-year rolling bearing agreement. Rolls-Royce will rely on Schaeffler’s dependable products and cutting-edge manufacturing technology to secure the rolling bearing supply chain through 2035. Schaeffler is helping Rolls-Royce’s growth through innovative products, R&D excellence, and advanced production.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~8.70% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | SKF Group, Timken Company, NTN Corporation, Schaeffler Group, NSK Ltd., JTEKT Corporation, GGB Bearing Technology, RBC Bearings, Inc., MinebeaMitsumi, Inc., Nachi-Fujikoshi Corp., AST Bearings, Aurora Bearings, Kaman Specialty Bearings, LYC Bearing Corp., Radial Bearing Corp., CSC Bearing Europe GmbH |
| Customization | Report customization along with purchase available upon request |
Aerospace Ball Bearings Market by Category
Product Type
- Deep Grove Ball Bearings
- Angular Contact Ball Bearings
- Self-aligning Ball Bearings
- High-Precision Ball Bearings
- Others
Material
- Metal
- Ceramic
- Composite
Application
- Engine Systems
- Landing Gear Systems
- Flight Control Systems
- Airframe Systems
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
Customization of the Report
• In case of any  please connect with our sales team, who will ensure that your requirements are met.
Pivotal Questions Answered in the Study
Table of Content
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
List Tables Figures
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy