Aircraft Brake System Market Projected to Witness a Double-Digit CAGR During 2017 – 2027
Working of an aircraft braking system depends upon a few parameters, such as minimum stopping distance, better heat dissipation, and easy maneuvering.Consequently, the size, weight, and landing speed of the aircraft are deciding parameters for selecting the type and design of the aircraft brake system.
Aircraft Brake System Market: Drivers
The rise in the traffic of air passengers worldwide in recent years has led to an increase in the demand for aircraft. Also, airlines around the world are demanding new aircrafts with advanced technologies. To meet the demand from airliners, the aircraft industry is developing aircrafts with advanced systems and components. The growing demand for aircraft is increasing the need for aircraft braking systems. The demand for technological improvements in prevailing aircraft braking systems has led to growth of the electrical braking system market. Moreover, brakes need to work in extreme environments, which results in the chances of degradation of quality of brake material through corrosion, which creates opportunities for the aftermarket industry. Another key point, which is surging growth of the aircraft brake system market is the search for lighter aircraft braking systems. The aircraft brake system market features a competitive environment of OEMs. Additionally, increasing fleet size is going to be one of the most important factors driving growth of the aircraft brake system market.
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Aircraft Brake System Market: Restraints
A major restraint in the aircraft brake system market is the operating and maintenance cost faced by airlines. Hence, the introduction of new technologies, such as electric braking system, to overcome maintenance cost is hampering the market for traditional and carbon braking systems, which are relatively less effective.
Aircraft Brake System Market: Segmentation
The aircraft brake system market can be segmented on the basis of product type, actuating system type, aircraft type and sales channel.
On the basis of product type, the aircraft brake system market can be segmented as:
Expander tube brakes
On the basis of actuating system, the aircraft brake system market can be segmented as:
Power brake system
On the basis of aircraft type, the aircraft brake system market can be segmented as:
On the basis of sales channel, the aircraft brake system market can be segmented as:
Original Equipment Manufacturers (OEM)
Aircraft Brake System Market: Regional Outlook
North America is expected to dominate the aircraft brake system market for carbon brakes, due to the presence of a large number of market participants. The global aircraft brake system market is expected to show faster growth in the Asia-Pacific region, due to increasing usage of aircraft in this region. Growing demand for air travel in this region is promoting the aircraft market and consequently, the aircraft braking systems market. Both the segments of sales, namely OEM and aftermarket, are predicted to offer healthy opportunities in upcoming years.
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Aircraft Brake System Market: Market participants
Safran Landing Systems (France)
UTC Aerospace Systems (U.S.)
Crane Aerospace & Electronics (U.S.)
AAR Corp. (U.S.)
Hong Kong Aircraft Engineering Company (Hong Kong)
Bauer, Inc. (Netherlands),
Beringer Aero (France)
Grove Aircraft Landing Gear Systems Inc. (U.S.)
Meggitt Aircraft Braking Systems Corporation (UK)
Honeywell International Inc. (US)
Parker Hannifin Corporation (U.S.)
Lufthansa Technik AG (Germany)
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