Air Bearings Market Size To Expand at a Notable CAGR Of 5% During 2018 – 2023

Air Bearings Market Research Report.

Overview:

The air bearings market is touted to touch a valuation of USD 10,733 million by 2023, as per the findings of Market Research Future (MRFR). Characteristics of durability, rotation with high precision, repeatability, cost-benefit, and environment-friendly nature are prime advantages which can witness its wide application in end-use industries. Adoption of lean methodologies by industry stalwarts to expedite the production process in light of heavy demand is likely to bolster market volume tremendously.

The air bearings market is expected to exhibit a CAGR of 6.82% from 2018 to 2023 (forecast period) owing to application of these machine elements in high-spinning tools. In addition, the capacity of these elements to handle loads at extreme temperatures can lead to massive demand. For instance, the aerospace industry used an air-bearing platform to lift heavy loads in the assembly line with ease and causing minimal bottlenecks.

Contamination of the pressurized air can cause friction in the bearings and may pose a challenge to the market. But revolutionary technologies such as viscous shear for isolating environments and prevent effective cleaning without contact is likely to resolve this restraint.

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Segmentation:

By type, the hydrostatic/aerostatic segment accounted for 58.72% share of the air bearings market in 2017. It can touch a valuation of USD 6,520.4 million by 2023, at a CAGR of 7.42% during the forecast period. This can be attributed to its properties of low noise, high rotational precision, and low heat generation. Meanwhile, the hydrodynamic/aerodynamic segment accounted for 41.28% market share in the same year. It can experience a CAGR of 5.92% over the review period owing to hydrodynamic bearings’ propensity to handle heavy loads. This segment can elicit a volume of 2,891 thousand units and reach a valuation of USD 4,212.7 million by 2023.

Among applications, the precision machinery tools segment accounted for 48.78% share in 2017, followed by high-speed machines (35.66%) in the same year. Precision machinery tools can command a demand of 3,172 thousand units of air bearings by 2023. It can experience a robust CAGR of 7.24% over the forecast period to reach a commendable valuation of USD 5,361.5 million by 2023. On the other hand, the high-speed machines application is expected to touch USD 3,809.1 million by 2023.

By end-user, aviation accounted for nearly 23% share in the air bearings market in 2017, followed by medical. The aviation segment can generate close to USD 1,282.8 million by 2023, at a CAGR of 7.99% during the assessment period. It can accumulate a demand totaling 1,656 thousand units by 2023. The medical segment can generate USD 1,075.9 million by 2023 for the air bearings market owing to its integration in bio-medical systems. Its use in artificial joints for seamless movement with minimum friction is likely to bode well for the market.

Regional Analysis:

Geographic analysis of the air bearings market includes namely North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and Latin America. Among these, APAC accounted for 56.59% share in 2017 on the basis of value, followed by Europe (18.07%), North America (14.39%), MEA (6.19%), and Latin America (4.76%).

The APAC region can touch a valuation of USD 6,214.6 million by 2023, expanding at a CAGR of 7.22% during the forecast period. This can be attributed to the abundance of minerals in the region, with countries such as India, China, and South Korea contributing the maximum to the market. In addition, booming sectors of manufacturing, textiles, and electronics can propel the regional market volume exponentially. Europe is the second-best performing region in the air bearings market and aims to reach a value of USD 1,878.1 million by 2023, at a CAGR of 6.25% during the assessment period. Development of air bearings with longer service life and few replacements are likely to contribute to regional growth.

Key Players:

Major market players listed in the air bearings market are Mohawk Innovative Technology, Inc. (U.S.), Specialty Components Inc. (U.S.), Leuven Air Bearings NV (Belgium), Aerolas (Germany), Xdot Engineering and Analysis, PLLC (U.S.), Dover Motion (U.S.), Newport Corporation (U.S.), Professional Instruments Company (U.S.), GAT Gesellschaft für Antriebstechnik mbH (Germany), New Way Air Bearings (U.S.), Air Bearings Ltd. (U.K.), Canon Semiconductor Equipment Inc. (Japan), Loadpoint Bearings Ltd. (U.K.), Hovair Systems, Inc. (U.S.), OAV Air Bearings (U.S.), Westwind Air Bearings (U.K.), Aerotech Inc. (U.S.), R&D Dynamics Corporation (U.S.), MAGER S.r.l. (Italy), PI Nelson Air Corp (U.S.), and others.

The Aircraft Fire Protection Systems Market is estimated to register a CAGR of nearly 5% during the forecast period of 2018 to 2023.

Market Highlights

The global aircraft fire protection systems market has been segmented based on type, aircraft, application, fit and region.

Based on type, the aircraft fire protection systems market is divided into fire detection system, alarm & warning system, and fire suppression system. The fire detection system segment is estimated to account for the largest market share while the fire suppression system segment is projected to witness the highest CAGR during the forecast period. The fire suppression system is most important in extinguishing fire and increasing the survivability during accidents or crashes.

Based on aircraft, the aircraft fire protection systems market is divided into civil and military aircraft. The civil aircraft segment is estimated to account for the largest market share and is projected to witness a higher CAGR during the forecast period. Meanwhile, rising defense spending especially in developing countries and focus on procuring military aircraft to enhance combat capabilities is positively impacting the demand for aircraft fire protection systems in military aircraft.

Based on application, the aircraft fire protection systems market is divided into cargo & baggage compartments, engines and auxiliary power unit (APU), cabins & lavatories, and others. The engines & APU segment is estimated to account for the largest market share while the cargo & baggage compartments segment is projected to witness the highest CAGR during the forecast period. The cargo bay of the aircraft requires effective fire protection since it is difficult to access these compartments during flight.

Based on fit, the aircraft fire protection systems market is divided into line-fit and retrofit. The line-fit segment is estimated to account for the largest market share while the retrofit segment projected to witness a higher CAGR during the forecast period as these systems require timely checks, maintenance, and replacement in order to enhance safety.

Based on region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increasing demand for both combat and commercial aircraft in countries such as China, and India.

Key Players

The key players in the global aircraft fire protection systems market are Advanced Aircraft Extinguishers, Ltd. (US), Aerocon Engineering Co. (US), Amerex Corporation (US), Diehl Stiftung & Co. KG (Germany), Gielle Group (Italy), Halma plc (UK), H3R Aviation, Inc. (US), Meggitt plc (UK), Siemens AG (Germany), and United Technologies Corporation (US).

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