Global Aircraft Brake System market size 2024, Forecast To 2033
24 Jan, 2024
The aircraft brake system market has experienced robust growth, increasing from $9.64 billion in 2023 to $10.5 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period is attributed to aircraft fleet expansion, regulatory standards, the growth of commercial air travel, the increase in global air travel, and military modernization. Looking ahead to 2028, the market is expected to see strong growth, reaching $14.69 billion at a CAGR of 8.8%. Anticipated drivers include electric and hybrid aircraft, urban air mobility, remote and unmanned aircraft, space tourism and exploration, and green aviation initiatives. Major trends encompass technological advancements, electro-mechanical braking, advanced friction materials, wireless brake monitoring, and advanced anti-skid technology.
Global Aircraft Brake System Market Key Driver
The aircraft brake system market is poised for growth owing to the increasing fleet size of both commercial and defense aircraft. Boeing's commercial market outlook for 2021–2040 projects the global commercial fleet to exceed 49,000 airplanes by 2040. This growth necessitates additional braking systems for aircraft, driving the demand for aircraft braking systems. The increasing fleet size of commercial and defense aircraft is a key factor in the growth of the aircraft brake system market.
Get A Free Sample Of The Global Aircraft Brake System Market ReportGlobal Aircraft Brake System Market Segments
The global aircraft brake system market covered in this report is segmented –
1) By Component: Braking System Components, Brakes, Wheels
2) By Acutation: 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
By Geography: The regions covered in the Aircraft Brake System market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Major Aircraft Brake System Industry Players
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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Aircraft Brake System Market Overview
The aircraft brake system is a system used to stop a moving aircraft by converting kinetic energy to heat energy through friction between discs located in brake systems in the wheels. The aircraft brake system provides this critical function during take-off, landing, and taxiing to stop the airplanes within the specified length of the runway.
Aircraft Brake System Global Market Report 2023 provides data on the global aircraft brake system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft brake system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.