The Aerospace bearings market size is projected to reach US$ 7.79 billion by 2031 from US$ 4.56 billion in 2023. The market is expected to register a CAGR of 6.9% during 2023 to 2031. The total addressable market for 2024 to 2031 is estimated at about US$ 49.83 billion. Rising global defense spending on military aircraft procurement is expected to remain a key trend shaping demand.
Ecosystem and Technology Advances
The ecosystem includes raw material suppliers, bearing manufacturers, and end users. Steel, ceramics, plastics, and composite materials are the main inputs, supplied by companies such as Morgan Advanced Materials and Hexcel Corporation. Supplier initiatives are lifting aircraft output. Hexcel extended its long-term contract with Safran in December 2020, and ÉireComposites signed a multi-million-euro deal with Spirit AeroSystems in October 2021. Technology progress is also boosting demand. In September 2021, SKF launched a new line of spherical roller bearings in North America.
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Rising Aircraft Production
Higher output from major aircraft makers is creating fresh demand for components and sub-components. Airbus delivered 611, 661, and 735 commercial aircraft in 2021, 2022, and 2023. Boeing delivered around 340, 480, and 528 over the same years. Capacity expansion adds to this momentum. In May 2024, Bombardier opened a US$ 500 million Global aircraft assembly center at Toronto Pearson in Canada.
Strong Delivery Pipeline Ahead
Growing deliveries are expected to support demand for line fit bearings throughout the forecast period. Airbus plans to raise A320 Family production to 75 aircraft a month in 2025. Boeing has received around 300 orders for the new 777 family and pushed the first 777X delivery to 2025. Bombardier forecasts 22,000 business aircraft deliveries over the next 20 years, while Airbus projects demand for more than 42,000 new passenger and freighter aircraft by 2042.
Segment Leaders in 2023
The market is segmented by type, application, material, and aircraft type. In 2023, ball bearings held the larger share by type, and flight control systems led by application. Stainless steel was the leading material, and fixed wing aircraft led by aircraft type.
Regional Landscape
North America dominated in 2023, followed by Europe and Asia Pacific. Asia Pacific is likely to record the highest CAGR, supported by expected commercial and military aircraft deliveries. Airbus forecasts more than 18,800 commercial aircraft deliveries in the region by the end of 2042, which should open new opportunities for bearing suppliers.
Recent Developments
Consolidation and long-term contracts continue to shape competition. In February 2024, Cablecraft Motion Controls completed its purchase of Radial Bearing Corp., a designer and manufacturer of rod ends and spherical bearings for aerospace, defense, and industrial markets. In April 2022, Schaeffler agreed to support Rolls-Royce with production and development of engine rolling bearing systems for widebody and business jet segments.
Key Players
- AST Bearings
- GGB
- JTEKT Corporation
- Accurate Bushing Company
- MinebeaMitsumi Inc.
- NTN Bearing Corporation of America
- RBC Bearings Incorporated
- SKF
- Regal Rexnord Corporation
- Barden Bearings
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Future Outlook
The outlook for the industry remains positive as aircraft production rates climb and order books grow across commercial, business, and military segments. With the market projected to grow from US$ 4.56 billion in 2023 to US$ 7.79 billion by 2031 at a CAGR of 6.9%, manufacturers that invest in advanced materials, new bearing designs, and capacity expansion are well placed to benefit. Asia Pacific is expected to be the fastest growing region, while North America should remain a leading hub. Rising defense procurement and strong demand for aerospace composite bearings are likely to keep opportunities open for suppliers through 2031.
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