Aircraft Braking System Market By Aircraft Type (Fixed-Wing, Rotary-Wing, Unmanned Aerial Vehicles, Advanced Air Mobility), Fit Type (Line Fit, Retro Fit), Actuation (Power Brake, Boosted Brake, Independent Brake), System Type (Carbon Brake System, Steel Brake System), Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), Distribution Channel (OEM, Aftermarke
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationAircraft Braking System Market By Aircraft Type (Fixed-Wing, Rotary-Wing, Unmanned Aerial Vehicles, Advanced Air Mobility), Fit Type (Line Fit, Retro Fit), Actuation (Power Brake, Boosted Brake, Independent Brake), System Type (Carbon Brake System, Steel Brake System), Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), Distribution Channel (OEM, Aftermarke
Aircraft Braking System Market Valuation-2024-2031
The Aircraft Brakes Market is estimated to be valued USD 9.83 Billion in 2023. Growing demand for new commercial and military aircraft and rising spending on the development of advanced braking systems propel the demand for aircraft brakes.
In addition to this, technological advancements in the aircraft braking system and the introduction of advanced brake discs drive the growth of the market. Thereby, pushing the Aircraft Braking System Market grow at a CAGR of 5.16% from 2024 to 2031, projecting to reach around to reach USD 12.65 Billion by 2031.
Aircraft Braking System MarketDefinition/Overview
The aircraft brake system is a system used to stop a moving aircraft by converting kinetic energy to heat energy through friction between discs located in brake systems in the wheels. The aircraft brake system provides this critical function during take-off, landing, and taxiing to stop the airplanes within the specified length of the runaway.
The wheels support the entire weight of the aircraft during take-off and landing. The brake systems of an aircraft are attached to the wheels. There is single- piece and two-piece aircraft wheels with a removable rim which allows the installation access for the tire.
The aircraft industry is developing airplanes with advanced systems and components to suit the demand from airlines. With rise in demand for airplanes, the demand for aircraft brake systems will increase correspondingly.
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Will Increase in Air Traffic Shed Light on Importance of Aircraft Brake System?
Rise in consumers opting for cargo or passenger air travel in emerging markets like Asia Pacific and Africa, is leading to an increase in the demand for advanced brake systems for new and existing aircraft. The advancements in the brake system, include new materials like carbon discs or electronic braking systems, is projected to help lower weight and enhance durability and efficiency.
In addition to this, the focus of stringent regulations on allowing safety drives is likely to create a conducive environment for efficient, automated, and anti-skid braking system. Likewise, the rising environmental concerns is propelling the use of eco-friendly and lighter braking systems to allow saving of fuels and reduce emission rate. The emphasis on cost-effective solutions is enhancing the adoption of maintenance and repair (MRO) options. Thereby, driving the demand advanced aircraft brake system.
Another boosting factor for this market is the integration of data analytics, IoT, sensors, and monitoring systems for obtaining real-time data to enable predictive maintenance for further optimized usage.
Furthermore, rise in investments across various regions in military aviation is bolstering the requirement for high-performance brake system for use in defense helicopters, jets, and other types of aircraft.
The key factor challenging the market growth is the fluctuating prices of materials like carbon fiber, rare earth elements, and titanium that is expected to change the overall production cost for the manufacturers.
Changing stringent regulations like FAA and EASA are focusing on ensuring the latest developments adapt to their standards. Thus, the manufacturers are heavily investing in the research and development in the field of aircraft braking system.
With the rising costing, the local manufacturers are ready to offer competitive pricing by lowering their production cost, thereby pressurizing the established players in the market.
The incompatibility between the advanced brake system and the other systems like electric taxiing systems, autonomous landing are proving crucial for the brake system manufacturers.
Besides all these, the need of skilled workforce with expertise in design, manufacturing, testing, quality control, and maintenance of complex brake systems for upkeeping safety and reliability is paramount.
Additionally, the uncertainties, such as geopolitical instability, cybersecurity issues, and maintaining sustainability are likely to have affect the overall market dynamics.
Category-Wise Acumens
Which Component Dominates the Aircraft Braking System Market?
Brake discs category is projected to hold a major share in the Aircraft Braking System Market over the forecast period. This growth is attributable to lightweight and high-performance applications of these solutions as they are made from carbon composites.
Also, the need for routine maintenance of brake systems to avoid wear and tear is also projected to shed light on the importance of this system in the aircraft. While the conventional steel counterparts are heavy and less efficient, the lightweight of carbon filter design is projected to help improve the fuel efficiency.
Advancements in material science and technology continue to drive innovation in brake disc design, contributing to the overall efficiency and reliability of aircraft brake systems.
The electronics is the fastest-growing category over the forecast period driven by the switch to electrically activated braking systems. In order to reduce weight and increase fuel economy, modern aircraft designs require lighter and electronically integrated sensors to be used in the braking system. This is driving an exceptional rate of market growth by replacing the previous large hydraulic fluid system and pumps.
Gain Access into Aircraft Braking System Market Report Methodology
Country/Region-wise Acumens
Which Region is Expected to Dominate the Market?
According to Market Research, North America is expected to dominate the market over the forecast period on account of the flourishing sophisticated aviation infrastructure.
Growing middle class population opting for air travel to different tourist destinations or medical tourism owing to the rise in their disposable income will further create lucrative opportunities for the market.
Also, the focus of manufacturers operating in the various nations, especially the U.S. and Canada, on developing advanced aircraft brake systems with features like anti-skid braking, electronic brakes, and carbon brakes in the region will further mature the market in the coming years.
Moreover, the growing government support and funding in research and development of airframe parts and the component manufacturing industry is bolstering the Aircraft Braking System Market.
Will Growing Air Travel in Asia Pacific Boost the Demand for Aircraft Brake System?
Rising medical tourism and air travel activities in the region, particularly China, South Korea, and India, is creating lucrative opportunities for Aircraft Braking System Market. In addition to this, the affordable air fares and favorable legislative policies in Asia Pacific is projected to enable the region witness rapid growth.
growing reliance on more sophisticated, lightweight, and high-performance brake systems rather than the traditional hydraulic ones, which are still largely in use. Growing Asian economies, like China and India, are driving the region’s market by concentrating more on enhancing domestic industry production than on importing goods from Western countries.
Competitive Landscape
The key players are primarily focusing on improving the Aircraft Braking System Market in order to offer air traffic control and passenger safety. The players are also adopting strategic solutions Major players are concentrating on improvements in brake system products, like electrical braking systems, in order to lower maintenance costs, increase system dependability, and lighten the system overall. Additionally, major parties are attempting to extend the life of the braking system, which will save the airlines money.
Some prominent players operating in the Aircraft Braking System Market include
Crane Aerospace & Electronics, Honeywell International Inc., Safran S.A., UTC Aerospace Systems, United Technologies Corporation, Meggitt PLC, Carlisle Companies Inc., MAT Holdings Inc., Collins Aerospace, Grove Aircraft Landing Gear Systems Inc., Allied Motion Technologies Inc., Beringer Aero USA, GKN Aerospace Services Limited, Lufthansa Technik AG, SGL Carbon SE, and Parker Hannifin Corporation.
Latest Developments
- In May 2023, Honeywell has introduced the Advanced Air Mobility (AAM) industry’s first certification reference guide, focusing on developing complex regulations for crewed and uncrewed AAM vehicles, providing a comprehensive tracking system for these regulations, which were previously unrecognized.
- In August 2022, RUAG Australia has signed a contract with Honeywell International Inc. to become an Authorized Service Centre for the F-35 Joint Strike Fighter Wheels and Brakes program in Asia Pacific.
- In April 2022, the largest cargo aircraft lessor, Air Transport Services Group (ATSG), will upgrade more than thirty Boeing 767Fs in its fleet. Safran will supply the conversion kits and maintain the systems once they are in service. Carbon brakes have a competitive edge in weight, strength, and reliability over steel brakes ATSG and its clients will be able to enhance operating margins, conserve fuel, and save expenses.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2018-2031 |
| Growth Rate | CAGR of ~5.16% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2018-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | Crane Aerospace & Electronics, Honeywell International Inc., Safran S.A., UTC Aerospace Systems, United Technologies Corporation, Meggitt PLC, Carlisle Companies Inc. |
| Customization | Report customization along with purchase available upon request |
Aircraft Braking System Market, By Category
Component
- Wheels
- Brake Discs
- Brake Housing
- Electronics
- Actuators
- Accumulators
- Others
Fit Type
- Retro Fit
- Line Fit
System Type
- Carbon Brake System
- Steel Brake System
Aircraft Type
- Fixed-wing
- Rotary-wing
- Advanced Air Mobility
- Unmanned Aerial Vehicles
Actuation
- Independent Brake Systems
- Boosted Brake Systems
- Power Brake Systems
Distribution Channel
- Aftermarket
- Original Equipment Manufacturers (OEMs)
Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Market Research
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