Internal and External Axially Installed, Radially Assembled, Internal and External Self Locking, Spiral Rings, and E Rings
The traditional method for fastening components in housings and on shafts typically involves some type of carbon/ alloy shaft/housing and multiple fasteners such as cotter pins, washers, and drilled holes.
By choosing to use a retaining ring, you could easily machine a groove onto the shaft or in the housing and install a retaining ring that retains the component or assembly. Using retaining rings instead of traditional fasteners results in he need of fewer parts, less material and lower installation costs.