DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Aerospace Bearings Market by Type, Application, Material, Aircraft Type, and Region - Global Forecast to 2022" report to their offering.
The aerospace bearings market was valued at USD 7.88 billion in 2016 and is projected to reach USD 11.19 billion by 2022, at a CAGR of 6.01% during the forecast period.
The increasing number of aircraft deliveries and upgradation of aircraft to reduce operating cost are the key drivers for the aerospace bearings market. Backlogs in current aircraft orders act as a restraint in growth of the aerospace bearings market.
Based on type, the roller segment of the aerospace bearings market is expected to grow at the highest CAGR during the forecast period. As roller bearings find application in maximum parts of an aircraft, the increasing demand for aircraft in the future is expected to drive the demand for bearings.
Based on material, the fiber-reinforced composites segment of the aerospace bearings market is anticipated to grow at the highest CAGR during the forecast period. This segment is expected to grow, as these bearings support high static and dynamic loads, and are ideal for corrosive environments such as seawater and acidic.
North America led the aerospace bearings market in 2016
- Increase in the Number of Aircraft Deliveries
- Upgradation of Aircraft to Reduce Operating Cost
- Existing Backlogs of Aircraft Deliveries
- Rising Raw Material Cost, and High R&D Investments
- Growing Use of Fiber-Composite and Thermoplastic Bearings
- Delay in Obtaining Quality Accreditations
- AST Bearings LLC
- Aurora Bearing Company
- Enpro Industries, Inc. (GGB Bearings Technology)
- JTEKT Corporation
- Kaman Corporation
- NSK Ltd.
- NTN Corporation
- National Precision Bearing
- New Hampshire Ball Bearings, Inc.
- Pacamor Kubar Bearings
- RBC Bearings Inc.
- Regal Beloit Corporation
- Rexnord Corporation
- SKF Group
- Schaeffler Group
- The Timken Company
For more information about this report visit http://www.researchandmarkets.com/research/3fsr4b/aerospace