Aircraft Braking System Market Size to Grow at a Steady Rate During Forecast Period ( 2017-2027)

Deployment of highly efficient aircraft braking system in modern aircrafts is of utmost importance. Safety primarily relies upon the efficient working of the braking system, since brakes are used to slowdown and stop the aircraft whenever necessary. The aircraft braking system must be capable of braking on the smooth runway surface with limited length. This leads to the development of complex braking system, which requires unwavering focus in terms of technology and material. Modern aircraft braking system comprises of aircraft disc brakes, thrust reversers, air brakes and drogue parachutes. All these components play significant roles in reducing the aircraft speed, thereby, ensuring safe landing. The brakes are replaced when the tyre tread or brake material is worn. This failure is examined by the maintenance staff, during which the entire brake/ wheel assembly is routed for replacement. The global aircraft braking system market is primarily driven by the refurbishment of brakes in existing fleet rather than the demand for new aircraft. This demand is primarily due to increase in airline traffic, which requires frequent upgrade of braking systems. According to the Airbus S.A.S, the global Revenue Passenger Kilometre is expected to grow by 4.5% every year, over the period 2014-2034.

Further, aircraft manufacturing focusing on lightweight and downsizing of aircraft components is expected to create opportunities for research & development in aircraft braking system for development of new products. Chances of corrosion in braking material while operating in extreme environment conditions is one of the major challenges faced by aircraft OEMs. This is further expected to create significant opportunities for OEMs to monitor, remove and protect aircraft brakes against corrosion. Favourable macroeconomic conditions in developed and developing nations are expected to boost the market growth, as an increase in aircraft production will, in turn, create demand for aircraft braking system. OEMs are forming strategic alliances with component manufacturers to upgrade their existing braking system. This move will further assist the OEMs to gain customer confidence and will aid them to drive profitable growth in the competitive environment. In October 2016, UTC Aerospace Systems signed a contract with Ducommun to build electronic assemblies for the up gradation of its braking system.

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Global Aircraft Braking System Market: Segmentation

The global Aircraft Braking System market is segmented on the basis of product type, deployment type, end-use, aircraft type and region.

Based on product type, the global aircraft braking system market is segmented into carbon brakes and steel brakes. Deployment of particular brake type in aircraft depends on the desired operating environment. Carbon brakes are primarily deployed in military and commercial aircraft.

Based on sales channel, the global aircraft braking system market can be segmented into OEM and after-market. After-market is expected to emerge as a fast growing segment owing to rising demand for the refurbishment of worn brakes in existing fleet.

On the basis of end-use, the global Aircraft Braking System market can be segmented into general aviation, civil aviation and military aircraft.

By aircraft type, the global Aircraft Braking System market can be segmented into narrow-body aircraft, wide-body aircraft, regional jets, freighter and turboprops.

Global Aircraft Braking System Market: Regional Outlook

Asia-Pacific is expected to emerge as a fast growing region in terms of revenue growth in the global aircraft braking system market. This is primarily attributed to the significant growth in aircraft fleet. Further, shifting production base from North America and Europe to Asia-Pacific region due to reduced labour cost is also expected to drive noteworthy volume growth opportunities in the region. In terms of market share contribution, North America and Western Europe jointly share the larger pie of the market since one-third of the global fleet is present in North America with over twenty percent in Western Europe.

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Global Aircraft Braking System Market: Market Participants

Global Aircraft braking system market is highly consolidated with a handful of players contributing to the major share in the market. This includes Honeywell International Inc, UTC Aerospace Systems, Meggitt PLC and Safran Landing Systems among others. Companies are primarily focusing towards the development of the combination of wheel and braking system that can operate at high temperature and high speed.

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This release was published on openPR.