Aerospace Bearings Market Worth $14.7 Billion by 2026

Northbrook, IL -- (SBWIRE) -- 05/12/2021 -- According to the new market research report "Aerospace Bearings Market by Type (Ball Bearing, Roller Bearing, Plain Bearing), Material (Metal, Metal Polymer & Engineered Plastic, Fiber Reinforced Plastic, Ceramic), Application, Platform, Sales Channel, Region - Global Forecast to 2026", published by MarketsandMarkets™, the market is projected to grow from USD 9.6 billion in 2021 to USD 14.7 billion by 2026, at a CAGR of 8.9% from 2021 to 2026. The rise of the global space sector, technological innovations, and sustained growth of the defense sector are the key factors driving the aerospace bearings markets growth. The increasing focus on a greener aerospace sector and its impact on the bearing supply chain are expected to create a demand for aerospace bearings. The aerospace bearings market has been growing at a significant rate, and this trend is expected to continue during the forecast period.