Press release
Aerospace and Defense Wheel and Brake Market to Reach US$ 3.54 Billion by 2034, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
Request a free sample report: https://www.stratviewresearch.com/Request-Sample/113/aerospace-and-defense-wheel-and-brake-market.html
Market Statistics
• Market size: US$ 2.69 billion in 2024
• Forecast value: US$ 3.54 billion by 2034
• CAGR: 2.8% during 2024-2034
• Forecast period: 2024-2034
• Base year: 2024
• Total number of segments: Multiple (by application type, end-use, product type, region)
• Tables & figures: 100+
• Country-Level Market Assessment: 20
Market Segmentation
• By Application Type: Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft
• By End-Use: OEM, Aftermarket
• By Product Type: Wheels, Brakes
• By Region: North America, Europe, Asia-Pacific, Rest of the World
Segment Analysis
In the application type category, the commercial aircraft segment dominates the market due to the extensive global fleet of commercial airliners and rising passenger volumes, which elevate the frequency of takeoffs and landings-accelerating the wear of wheel and brake systems and sustaining demand for replacements and maintenance. This persistent demand reinforces the segment's leading position and highlights the need for suppliers to align solutions with commercial aviation procurement and aftermarket service strategies.
Within the end-use segmentation, the aftermarket category currently holds the largest share, driven by the ongoing maintenance, repair, and overhaul (MRO) requirements of aging aircraft in active service, where frequent maintenance cycles are necessary to ensure performance and safety. As the aftermarket maintains its dominance, companies can capitalize on long-term service contracts and extended component lifecycles to build recurring revenue streams.
Looking at product type, brakes lead the market due to their critical role in aircraft deceleration and the high thermal and mechanical stress they endure during operations, which demands frequent inspection and servicing. This dynamic underscores the importance for product innovators to prioritize advanced brake technologies that enhance durability and reduce maintenance costs for airline operators.
Regional Insights
In North America, the market maintains its dominant position owing to the presence of major aircraft OEMs and advanced braking system manufacturers, supported by strong aerospace infrastructure and high commercial and defense aviation activities. This favorable landscape enables established suppliers to leverage proximity to OEMs and MRO hubs for strategic growth.
In the Asia-Pacific region, rapid growth is anticipated, driven by expanding commercial aircraft production, fleet growth, and rising air travel demand, which together fuel increased investment in wheel and brake systems across both OEM and aftermarket channels. This robust expansion presents attractive opportunities for international players to enhance market penetration and partnerships with regional stakeholders.
Market Drivers
• Rising air passenger traffic, leading to fleet expansions and increased aircraft utilization.
• Fleet modernization initiatives in commercial and defense sectors necessitating advanced wheel and brake solutions.
• Frequent maintenance cycles due to high operational stress on wheel and brake components, supporting aftermarket demand.
• Advancements in materials science, such as lightweight and high-performance brake materials that improve fuel efficiency.
• Growth in aircraft manufacturing and MRO activities, fostering OEM and service segment expansion.
Top Companies in the Market
• Safran
• Meggitt PLC (part of Parker Hannifin Corp)
• Collins Aerospace
• Honeywell International Inc.
Frequently Asked Questions
1. What is the projected value of the aerospace and defense wheel and brake market by 2034?
The market is projected to reach US$ 3.54 billion by 2034, growing at a CAGR of 2.8% from 2024 to 2034.
2. Which application segment leads demand in the aerospace and defense wheel and brake market?
The commercial aircraft segment leads demand due to its large fleet size and frequent flight operations.
3. Why does the aftermarket segment dominate the wheel and brake market?
The aftermarket dominates because of continuous maintenance, repair, and overhaul requirements driven by wear and tear on active aircraft fleets.
4. Which region holds the largest share of the aerospace and defense wheel and brake market?
North America holds the largest share, supported by a strong aerospace ecosystem and high aviation activity.
5. Who are the major players in the global aerospace and defense wheel and brake market?
Key players include Safran, Meggitt PLC (part of Parker Hannifin Corp), Collins Aerospace, and Honeywell International Inc.
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Liquid adhesives market: https://logcla.com/blogs/1009836/Liquid-Adhesives-Market-Driving-Innovation-in-Modern-Bonding-Solutions
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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