Press release
Large Aircraft Braking System Market Expansion Outlook: $3.51 Billion in 2029
Large Aircraft Braking System
What Is the Projected CAGR for the Large Aircraft Braking System Market from 2024 to 2025?
The size of the large aircraft braking system market has seen substantial growth in the past few years. Its growth is projected to escalate from $2.6 billion in 2024 to $2.75 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.0%. This growth during the historic period can be credited to factors such as the upsurge in air travel demand, expansion of the commercial aviation fleet, emphasis on improving aircraft safety, increase in long-haul flights, and augmentation of commercial fleet sizes.
What are the Expected Market Size and CAGR for Large Aircraft Braking System by 2029?
Anticipating a significant surge in the forthcoming years, the market size of large aircraft braking systems is projected to expand to $3.51 billion by 2029, advancing at a compound annual growth rate (CAGR) of 6.3%. This expansion throughout the forecasted period can be attributed to a multitude of factors such as the boom in new aircraft deliveries, the modernization of outdated aircraft fleets, the escalation in defense and military expenditure, growth in commercial aircraft operations, and a focus on enhancing fuel efficiency and reducing emissions. Noteworthy trends expected to shape this period include the transition to electric braking systems, the incorporation of intelligent sensors in brakes, the creation of lightweight composite materials, the application of predictive maintenance technologies, and innovations in braking technology.
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Which Factors Are Driving the Global Large Aircraft Braking System Market Expansion?
The surge in activities related to commercial aircraft, such as passenger and cargo transportation, is predicted to spur the expansion of the large aircraft braking system market. These activities can range from flight scheduling and aircraft maintenance to adherence to aviation safety guidelines. This escalation is primarily attributed to the increased preference for air travel for business and recreational activities. Large aircraft braking systems are crucial for commercial planes to ensure their ability to decelerate effectively upon landing. This allows the aircraft to reduce speed rapidly and make a complete halt within the boundaries of a runway, thus averting mishaps and guaranteeing seamless flight operations. For instance, in March 2024, the International Air Transport Association (IATA), headquartered in Canada, reported an 18.4% surge in global air cargo in comparison with January 2023. Moreover, in January, European airlines witnessed a 16.4% increment in air cargo volumes compared to the corresponding period in 2023. This rising demand for commercial aircraft operations underpins the growth of the large aircraft braking system market.
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Which Segment Currently Holds the Largest Share of the Large Aircraft Braking System Market?
The large aircraft braking system market covered in this report is segmented -
1) By Component: Brake Control Systems, Brake Actuators, Brake Discs, Brake Pads, Anti-Skid Control Systems
2) By Technology: Hydraulic Brakes, Pneumatic Brakes, Electromechanical Brakes
3) By Braking Type: Carbon Brakes, Steel Brakes
4) By Aircraft Type: Commercial Aircraft, Military Aircraft, Business Jets
5) By End-User: Original Equipment Manufacturers (OEMs), Aftermarket
Subsegments:
1) By Brake Control Systems: Hydraulic Control Systems, Electronic Control Systems
2) By Brake Actuators: Hydraulic Actuators, Electro-Hydraulic Actuators, Electric Actuators
3) By Brake Discs: Steel Discs, Carbon-Carbon Composite Discs, Carbon-Ceramic Discs
4) By Brake Pads: Organic Brake Pads, Semi-Metallic Brake Pads, Carbon Composite Brake Pads
5) By Anti-Skid Control Systems: Fully Integrated Systems, Modular Systems
Which Major Trends Are Shaping the Future of the Large Aircraft Braking System Industry?
Predominant firms in the large aircraft braking system market are employing strategic partnerships as a method to promote innovation, optimize production, and expand global reach. A strategic partnership acts as a cooperative alliance among two or more corporations that unify to attain common beneficial objectives, usually involving combined resources, skills, or capabilities. For example, in December 2022, American Airlines Inc., a US-based airline corporation, entered into a partnership with Safran Landing Systems, a US-based producer of large aircraft braking systems. The cooperation aims to equip its Boeing 737NG fleet with enhanced carbon brakes that facilitate brake-by-wire technology. These brakes, which are notably lighter and more resilient, assist in reducing carbon emissions and operational expenditures, coinciding with American Airlines' environmental sustainability objectives.
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Which Key Players Dominate the Large Aircraft Braking System Industry Globally?
Major companies operating in the large aircraft braking system market are Boeing Company, Honeywell International Inc., Safran S.A., Thales Group, Parker Hannifin Corporation, Lufthansa Technik AG, Moog Inc., Meggitt PLC, AAR Corp., Crane Aerospace & Electronics, Triumph Group Inc., Kaman Corporation, Sumitomo Precision Products Co. Ltd., Farinia Group, HYDRO SYSTEMS GmbH & Co. KG, NMG Aerospace, Liebherr-International AG, NASCO Aircraft Brake Inc., UTC Aerospace Systems, MATCO Manufacturing Inc.
What Are the Fastest-Growing Regions in the Large Aircraft Braking System Market?
North America was the largest region in the large aircraft braking system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the large aircraft braking system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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