Materials for aerospace bearings are highly stressed materials loaded in a complex mechanical and tribological environment. In the contact area between ring and ball rolling and sliding motions are superimposed, the oil temperature is in the range of 200°C. Under this special lubrication conditions the bearing steel should react sufficiently with the oil additive tricresylphosphate (TCP) in order to minimize wear and friction. The standard materials used for turbine bearings are not corrosion resistant and corrosion problems occur mainly in aircraft applications near the sea, e.g. jets on aircraft carriers. The objective of the current theses is the development of a new material concept for corrosion resistant steels for aircraft bearings, which fulfils the mechanical requirements and exhibits a sufficient reactivity with the oil additive TCP. First step of the material development was a benchmark characterisation of different steels, comprising microstructure, mechanical properties, corrosion resistance, lubricated sliding contact behaviour and rolling contact fatigue. Based on these results a material concept for a new corrosion resistant bearing steel was developed, using thermo dynamical simulations. The new material concept shows a promising property profile which meets the required corrosion properties as well as a sufficient reactivity with TCP.