Press release
Global Aircraft Brake System Market: Unprecedented Growth, Key Players, and Emerging Trends
Aircraft Brake System Market
Growth Trajectory Carved by Fleet Expansion, Regulatory Standards, Technological Advancements, and Green Aviation Initiatives
What Is The Projected Market Size Of The Global Aircraft Brake System Market And Its Growth Rate?
Keeping pace with worldwide fleet expansion and advancements in the aviation sector, the global aircraft brake system market has soared significantly.
• The market size is expected to surge from $10.29 billion in 2024 to $11.18 billion in 2025, registering a compound annual growth rate (CAGR) of 8.7%.
• By 2029, it is anticipated to further expand to $15.51 billion, driven by rising interests in electric and hybrid aircraft, urban air mobility, remote and unmanned aircraft, space tourism and exploration, green aviation initiatives.
• Major trends in the forecast period include technological advancements, electro-mechanical braking, advanced friction materials, wireless brake monitoring, advanced anti-skid technology.
What Is Driving The Growth In The Aircraft Brake System Market?
The surge in both commercial and defense aircraft fleets is a prime driver for the aircraft brake system market. An increase in the number of airplanes operated, or the fleet size, necessitates the installation of more braking systems and the replacement of existing ones. As per Boeing's commercial market outlook 2021-2040, the global commercial fleet is slated to exceed 49,000 airplanes by 2040. Consequently, the aircraft brake system market is poised for robust growth, fuelled by the escalating fleet size of commercial and defense aircraft.
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Who Are the Key Players Driving Aircraft Brake System Market Growth?
The market landscape hosts several prominent players such as:
• Honeywell International Inc.
• Safran Landing Systems
• Raytheon Technologies Corporation
• Parker-Hannifin Corporation
• Crane Aerospace & Electronics
• Beringer Aero (subsidiary of Beringer SAS)
• MATCO Manufacturing Inc.
• Grove Aircraft Landing Gear Systems Inc.
• Jay-Em Aerospace & Machine Inc.
• Bauer Inc.
• Nasco Aircraft Brake Inc.
• AAR Corp.
• Lufthansa Technik AG
• UTC Aerospace Systems
• Dunlop Aircraft Tyres Ltd.
• Goodyear Aviation
• Michelin Aircraft Tire Company LLC
• Aircraft Braking Systems Corporation
• Carlisle Companies Incorporated
• Rapco Fleet Support Inc.
• SGL Carbon SE
• Wilwood Engineering Inc.
• Brembo S.p.A.
• Hindustan Aeronautics Limited
• Magellan Aerospace Corporation
• Meggitt Aircraft Braking Systems Corporation
What Are The Key Trends In The Aircraft Brake System Market?
Driving the aircraft brake system market are trends like:
• Technological advancements
• Electro-mechanical braking
• Advanced friction materials
• Wireless brake monitoring
• Advanced anti-skid technology
What Are The Segments Of The Global Aircraft Brake System Market?
The aircraft brake system market encompasses several segments:
1) By Component: Braking System Components, Brakes, Wheels
2) By Actuation: Power Brake, Boosted Brake, Independent Brake
3) By Brake Type: Carbon Breaks, Steel Breaks, Others
4) By Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles
5) By End-User: Commercial Aircraft, Defense Aircraft
Which Region Leads The Aircraft Brake System Market?
In 2024, North America led the global aircraft brake system market and is expected to maintain its fastest-growing region status in the forecast period. Alongside, the report offers comprehensive insights into other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Aircraft Brake System Market Global Market Report?
- Market Size Analysis: Analyze the Aircraft Brake System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Aircraft Brake System Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Aircraft Brake System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Aircraft Brake System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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