Press release
Key Influencer in the Aircraft Brake System Market 2025: Rise In Fleet Size Propels The Market Driver
Aircraft Brake System Market Size
The aircraft brake system market is forecasted to expand due to the growing fleet size of commercial and defense planes. The term 'aircraft fleet' refers to the collection of planes operated by a specific airline, and as this number increases, there is a growing demand for brake systems to be installed and replaced in these aircraft. For example, Boeing, a prominent aerospace firm in the US, predicts in its 2021-2040 commercial market outlook that the global commercial fleet will surpass 49,000 planes by 2040. Consequently, the expanding fleet size of commercial and defense aircraft underpins the growth of the aircraft braking system market.
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What growth opportunities are expected to drive the aircraft brake system market's CAGR through 2034?
In recent times, the aircraft brake system market has seen robust growth. The market which is projected to rise from $10.29 billion in 2024 to $11.18 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. Factors contributing to the growth during the earlier period include the expansion of aircraft fleets, compliance with regulatory standards, the growth of commercial air travel, a surge in worldwide air travel, and military modernization.
In the coming years, the aircraft brake system market is forecasted to experience significant expansion, reaching a value of $15.51 billion in 2029 with a compound annual growth rate (CAGR) of 8.5%. The projected growth within this period can be attributed to elements such as electric and hybrid aircraft, urban air mobility, remote and unmanned aircraft, space tourism and exploration, as well as green aviation initiatives. The forecast period also identifies key trends to watch out for, such as technological advancements, electro-mechanical braking, the use of advanced friction materials, wireless brake monitoring, and advanced anti-skid technology.
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What are the emerging trends shaping the future of the aircraft brake system market?
The aircraft brake system market is being molded by strategic partnerships and collaborations. These mutual partnerships provide opportunities for participants to develop innovative solutions for their clientele, venture into new markets, and merge essential expertise and resources. For example, in July 2024, TT Electronics, an electronics manufacturing corporation based in the UK, formed a partnership with Parker Hannifin Corporation, an American motion and control technology firm. This partnership deals with the creation of intricate electronic assemblies for commercial aircraft braking systems through to 2027. It is also indicative of the growing demand and expansion opportunities in the commercial aerospace field, along with the ongoing renewal of worldwide aircraft fleets.
Which growth-oriented segments of the aircraft brake system market are leading the industry's development?
The aircraft brake system market covered in this report is segmented -
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
Subsegments:
1) By Braking System Components: Brake Control Systems, Anti-Skid Control Units, Brake Actuators, Hydraulic Lines and Fittings, Sensors and Monitoring Systems
2) By Brakes: Disc Brakes, Drum Brakes, Carbon Brake Systems, Steel Brake Systems, Emergency Brakes
3) By Wheels: Main Wheels, Nose Wheels, Wheel Assembly Components
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What regions are leading the charge in the aircraft brake system market?
North America was the largest region in the aircraft brake system market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft brake system market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the aircraft brake system market?
Major companies operating in the aircraft brake system market include Honeywell International Inc., Safran Landing Systems, Raytheon Technologies Corporation, Parker-Hannifin Corporation, Crane Aerospace & Electronics., Beringer Aero a 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
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What Is Covered In The Aircraft Brake System Global Market Report?
•Market Size Forecast: Examine the aircraft brake system market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the aircraft brake system market for a structured understanding.
•Key Players Overview: Analyze major players in the aircraft brake system market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aircraft brake system market.
•Segment Contributions: Evaluate how different segments drive overall growth in the aircraft brake system market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aircraft brake system market.
•Industry Challenges: Identify potential risks and obstacles affecting the aircraft brake system market.
•Competitive Landscape: Review strategic developments in the aircraft brake system market, including expansions, agreements, and new product launches.
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