November 1, 2021 02:03 ET | Source: United Market Research United Market Research
Portland, Oregon, November 1, 2021 (GLOBE NEWSWIRE) - According to a report released by Allied Market Research, the global aviation bearing market created US$5.24 billion in 2020 and is expected to reach US$14.24 billion by 2030. The compound annual growth rate is 10.6% from 2021 to 2030. The report analyzes in detail the ever-changing market dynamics, top market segments, value chains, key investment areas, regional scenarios and competitive landscape.
Increasing attention to reducing vehicle weight, attention to the green aerospace field, and growth in the global aerospace field and technological innovation have promoted the growth of the global aerospace bearing market. However, the high cost of raw materials has restricted the market to a certain extent. On the other hand, the emergence of sensor bearing units and the growth of urban air traffic (UAM) platforms provide new opportunities in the coming years.
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COVID-19 scenario aviation bearing industry:
The report provides a detailed breakdown of the global aviation bearing market based on bearing type, aircraft type, application and region.
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According to the bearing type, the ball bearing segment has the highest market share in 2020, accounting for more than half of the total market share, and is expected to continue to maintain its leading position during the forecast period. However, the sliding bearing segment is expected to have the highest compound annual growth rate from 2021 to 2030, at 12.5%.
By model, the fixed-wing segment has the largest market share in 2020, accounting for three-quarters of the total market share, and is expected to continue to maintain its leading position during the forecast period. In addition, from 2021 to 2030, the rotorcraft part is expected to achieve the highest compound annual growth rate of 11.6%.
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From a regional perspective, the Asia-Pacific region will contribute the highest revenue share in 2020, accounting for nearly one-third of the global market share, and is expected to continue to dominate by 2030. In addition, LAMEA is expected to perform the fastest during the forecast period with a compound annual growth rate of 12.1%.
The leading companies in the global aviation bearing market analyzed in the study include GGB, JTEKT, Kaman, NSK Co., Ltd., NTN Co., RBC Bearing Co., Ltd., Schaeffler AG, SKF, and THK Co., Ltd. And Timken.
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