The aerospace bearings market is set to showcase robust expansion by 2027 owing to rising passenger traffic across the world. Additionally, surging demand for low-cost airline carriers is expected to foster market uptake over the forecast period.

Aerospace bearings are used to ensure a failure-proof operation of the carrier as well as support the components of an aircraft to withstand immense force and pressure while in motion. In recent years, increasing maintenance requirements and strict airworthiness and safety standards and policies have boosted product demand.

Notably, industry participants have been employing lucrative strategies to tap into emerging trends in the market, thereby enhancing overall business dynamics. For instance, in July 2021, Schaeffler AG, a leading manufacturer of rolling element bearings for aerospace, automotive, and other industrial applications, announced the acquisition of BEGA International B.V., a key producer of mounting and dismounting rolling bearings. The deal enabled Schaeffler to expand its product range of rolling bearing dismounting and mountings offerings.

The aerospace bearings market has been segmented on the basis of sales channel, type, platform, material, application, and region. In terms of type, the market has further been divided into plain bearing, ball bearing, spherical bearing, roller bearing, rod ends bearing, and others. The rod ends bearing sub-segment held a market share of around 9% in 2020 and is slated to witness steady growth over the analysis period. The others sub-segment is speculated to garner significant gains by 2027, registering a growth rate of more than 5.1% through the review period.

With respect to material, the market has been categorized into aluminum alloys, ceramic, stainless steel, metal polymer & engineered plastic, fiber reinforced composites, and others. In 2020, the aluminum alloys sub-segment contributed to a share of nearly 21% in the industry and is speculated to observe solid expansion over 2021-2027. The aerospace bearings market from the metal polymer & engineered plastic sub-segment is set to reach a notable valuation by 2027, expanding at a CAGR of approximately 6.9% over the assessment period.

From the application perspective, the aerospace bearings market has been classified into aerostructure, landing gear, cockpit controls, engine components, flight control systems, doors & interiors, and others. The doors & interiors sub-segment is foreseen to progress at almost 6.1% CAGR over the review timeline.

The flight control systems sub-segment exceeded a valuation of USD 108 million in 2020 and is likely to exhibit robust expansion through the study timeframe. Meanwhile, the others sub-segment is projected to grow at a CAGR of above 4.1% over the stipulated period.

With respect to platform, the market has been bifurcated into rotary wing and fixed wing. The rotary wing sub-segment is poised to garner a sizable market share by 2027, growing at a CAGR of around 6.8% through the forecast timeline.

On the regional front, the North America aerospace bearings market dominated the overall industry and is slated to expand at a CAGR of more than 6.7% through the estimated period. The Latin America aerospace bearings market accounted for over 3.5% share in the global industry in terms of revenue in 2020 and is likely to showcase sturdy growth at nearly 5.9% CAGR through the projected timeframe.