Bearings

How U.S. will emerge as major revenue pocket for aerospace & defense C-class parts market over 2019-2025?

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Exponential growth of the commercial aircraft sector has been driving aerospace & defense C-class parts market. Passenger aircrafts orders have witnessed sharp gains owing to the rise in consumer spending on air travel complemented by the minimized air fares for shifting focus on middle class population.

Strong economic growth of the emerging nations led to improved standard of living, thereby expanding consumer base of the airline industry. Furthermore, the aerospace & defense industry adheres to stringent regulation concerning the safety of the aircraft operations, which requires timely maintenance and repair of the aircrafts. This would in turn, further strengthen aerospace and defense C-class parts market forecast owing to the increasing commercial air traffic.

How will the increasing military & defense expenditures stimulate overall aerospace and defense C-class parts market outlook?

Constant increase in defense budget attributed to the rise in geopolitical tensions has led to an arms battle among some of the major economies like Russia, United States, China, and India. A flagship aviation magazine, Aviation Week, predicts that in-service fleet aircrafts will increase significantly by the end of 2027. Reportedly there were 41,605 in service aircrafts in 2017 which are expected to grow by 1,230 by 2027. Moreover, there is demand for 834 aircrafts and helicopters by multiple defense forces around the globe.

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How will the increased production rates of commercial aircrafts impel aircraft airframe market share?

Aircraft airframe segment held the largest share owing to the increased production rates of commercial aircrafts by major players like Boeing and Airbus. Improved business policies enforced by major airliners have led to minimized airfares attracting more air flyers. The expansion of the consumer base preferring air travel has also proved highly beneficial for the airline industry, thus creating more demands for new aircrafts.

Which region will prove to be promising revenue ground for aerospace and defense C-class parts  market?

North America accounted for more than 45% overall market share in 2018, owing to the presence of major aircraft and engine manufacturers including Boeing and Lockheed Martin. Ever expanding investment in the military and other defense activities will further propel the product demand over the years ahead. In fact, North America is anticipated to dominate the global aerospace & defense C-class parts market landscape over the forecast period.

Author NameAmol Kothekar

E-commerce automotive aftermarket industry to garner substantial proceeds over 2018-2025, fueled by the increasing adoption of AI and IoT for brand enhancement

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The growing emergence of creative business models is one of the pivotal factors propelling e-commerce automotive aftermarket industry share. At present, the store, brokerage, and social commerce models have been intensely contributing toward the growth of online commerce. Taking into account the growing popularity of electronic commerce across the automotive sector, many giants in e-commerce automotive aftermarket have been making heavy investments to enhance their storage capacity by developing new warehouses. For instance, the U.S. e-commerce automotive aftermarket player, Turn5 has recently decided to invest USD 8 million to build a facility in Kansas. In addition, in 2017, the firm also expanded its distribution facility in Las Vegas to improve lead times and provide a faster shopping experience to customers. As of now, Turn5 is operating three aftermarket automotive websites, which are mainly devoted to the branding of popular automakers Jeep Wrangler, Ford, and Mustang. In this regard, the newly developed corporate headquarters will help company to gain more growth benefits through vehicle customization tools. It would thus be apt to state that the unique approach of players in e-commerce automotive aftermarket would impel this business vertical over 2018-2025.

U.S. E-commerce Automotive Aftermarket, By Consumer, 2017 & 2025, (million units)
U.S. E-commerce Automotive Aftermarket, By Consumer, 2017 & 2025, (million units)

Considering the increasing adoption of internet-based commerce services, the biggies in e-commerce automotive aftermarket industry are developing new advanced e-commerce platforms with convenient tools for next-generation users. For instance, in 2017, Dana Inc. launched a new e-commerce platform comprising an enhanced e-catalog system. This added module has helped many customers and distributors to identify the required component of various automobiles rather quickly. Through the development of such advanced and digitally transformed e-commerce platforms, the players in e-commerce automotive aftermarket are looking forward to gaining more competitive benefits in the ensuing years.

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Focusing on the growing competitiveness in e-commerce automotive aftermarket, several industry contributors including Denso Corporation, Flipkart, Advance Auto Parts, AliExpress, Amazon, Bosch, O’Reilly Auto Parts, E-bay, Auto Zone, and Napa Auto Parts have been entering into strategic joint ventures to enhance their product and service portfolios. For instance, an offline to online integrated social media platform operator, Moxian Inc., partnered with a leading offline to online automotive aftermarket e-commerce platform, Baoyanghui to improve its customer base mainly across China. Through this alliance, this e-commerce platform connects auto owners to the service center, auto dealers, independent mechanics, repair shops, and part stores. In addition, Baoyanghui will use Moxian’s media partner, Xinhua News Media in order to promote its services. In fact, Baoyanghui’s prominent presence in the automotive aftermarket vertical will help Moxian extend its regional presence across China e-commerce automotive aftermarket industry.

In the future, the increasing adoption of emerging technologies such as IoT and artificial intelligence is likely to stimulate e-commerce automotive aftermarket trends. The Germany based automaker, BMW, for example, recently launched its e-commerce pilot project to check the popularity of the brand outside Germany. Considering the fact that many automakers are now officially penetrating the aftermarket business, the intensity of competitive in e-commerce automotive aftermarket is slated to increase tremendously in the years ahead. As per estimates, the overall e-commerce automotive aftermarket industry is expected to surpass USD 30 billion by 2025.

Author Name : Sunil Hebbalkar

Growing demand across aerospace and railway industries anticipated to drive bearings market growth

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Bearings market size is expected to exceed over USD 142 billion by 2022, as it will grow over 7.6% in the coming years. This product is an essential mechanical component for proper and smooth running of vehicles and machineries. The industrial heavy machinery sector is the largest end user market, followed by automobile sector which can’t run without this product. The future growth of this market will come with an increase in requirement in aerospace and railway sectors. Asia Pacific is the greatest and fastest rising market in this sector, followed by China. Asia Pacific market was USD 36 billion in 2014 and is projected to gain USD 68 billion by 2022 with a CAGR of 8% between years 2015-2022.

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Increase in number of commuters taking advantage of public transportation is likely to be the key facet of rise in demand. Substantial growth is expected in this market because of high requirement for tapered roller components in wheels, gearboxes and journal applications along with ceramic coated ones used in traction-motor. They have small surface contact thus help in reducing friction which makes vehicle run smoothly and hence its demand can’t fall in future. It has a rising growth with approximately 42% of the overall share in 2014 and is expected to enjoy 78% in the coming year.

Bearings Market Size

The market trends seem to be promising in future. Automotive bearing market is projected to get significant gains with projection of USD 71 billion at a CAGR of 7.3%. An upsurge will be seen in agricultural sector as it is likely to grow with a CAGR of 7% because of economic recovery and improved performance. Machineries used for agriculture are also estimated to contribute in the elevation of this market. But yes, it is worth to notice the importance of the roller variety. They are mainly used when load enduring capacity is more important than speed. As per the market report, roller range is estimated to touch USD 51 billion up to 2022.

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It is anticipated that Europe will achieve USD 32 billion by 2022 which was USD 18 billion earlier in 2014. One more example of rising market for this product is North America which is expected to get USD 25 billion by 2022. Bearing market share is highly productive. The list of top most companies includes Timken, NSK Global, SKF, Schaeffler Group, JTEKT and NTN Corporation and these companies are contributing almost 60% of overall industry share. However, counterfeiting is a major problem which can be challenging to this market in near future. It is a problem faced by many industries and is a threat for them.

Author NameDhananjay Punekar