Wear resistant vibration assembly and method

A vibration assembly includes a valve above a rotor and stator. The rotor rotates within the stator as fluid flows therethrough. The valve includes a rotating valve segment, which rotates with the rotor, and a non-rotating valve segment each including at least one fluid passage. In an open position, the fluid passages of the valve segments are aligned and a fluid flows through the valve. In a restricted position, the fluid passages of the valve segments are partially or completely unaligned, thereby creating a pressure pulse that is transmitted through the drill string or coiled tubing above the valve. The valve may further include an inner sleeve and an outer sleeve surrounding the non-rotating valve segment. The inner and outer sleeves allow axial sliding but prevent rotation of the non-rotating valve segment. The assembly may further include a lower thrust bearing at a lower end of the rotor.