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Aircraft Braking System Market Size, Share, and Analysis, By Aircraft Type (Fixed Wing, Rotary Wing and Unmanned aerial vehicles), By Actuation (Power Brake, Boosted Brake, and Independent Brake), By Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulators and Electronics) and By Distribution (OEM and Replacement) and Regional Forecasts, 2022-2032
The Aircraft Braking System market size was USD 9.76 billion in 2021 and projected to grow from USD 10.6 billion in 2023 to USD 15.1 billion by 2032, exhibiting a CAGR of 4% during theThe Aircraft Braking System market size was USD 9.76 billion forecast period.
Aircraft Braking System is used to reduce the speed of aircraft during landing on the runway. It is an essential component to ensure safety and control of the directional of an aircraft during ground operations like landing, take-off & taxiing. The introduction of Aircraft Braking System needs an extensive engineering. Aircraft brakes are operated through hydraulically or pneumatically, disc. Several new variations of aircraft brake systems were designed like single, dual and multiple disc, and rotor-disc brakes. Perfectly designed aircraft brake system can withstand unfavorable conditions and resist the plane from accidents. Majority of aircraft brake systems are made as per fixed standards.
Aircraft Braking System Market is expected to project a CAGR of 4% during the forecast period, 2022-2032
The Aircraft Braking System Market is expected to reach USD 15.1 billion at a CAGR of 4% during forecast period. Market growth is driven by factors like increasing focus on safety of an airplane during various operations like landing, take-off and taxiing, increase in commercial aircraft operating industry & increase production of planes due to increased air traffic globally.Technological improvements in aircraft braking components, like integrated self-powered brake systems, is driving market revenue growth.
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Fixed Wing segment is expected to grow with high CAGR during the forecast period
Aircraft Breaking System Market is classified based on the Aircraft type into Fixed Wing, Rotary Wing and Unmanned aerial vehicles. The Fixed Wing segment is expected to account for largest share during the forecast period. A fixed-wing aircraft has wings which are static, do not move and is propelled by a propeller. These are frequently utilized for longer trips than other aircraft owing to the ability to travel longer distance without refuelling. Brake system has an anti-skidding control feature, to adjust brake pressure in accordance with runway apparent condition which ensures that the aircraft is at multiple runways and protects against pollution which could compromise safety and reliability.
Power Brake segment is expected to grow with high CAGR during 2022-2032
Aircraft Breaking System Market is classified based on the actuation into power brake, boosted brake, and independent brake. The Power Brake segment is expected grow in the global market during the forecast period owing to their utilization in big airplanes, when a manual system is unable to produce hydraulic pressures which is required to stop the aircraft. The only source used by this method to apply brakes is hydraulic system of airplane.
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Increased Air Traffic is Expected to Boost the Growth of the Market
Growth in air passenger traffic, is driving the growth of the Aircraft Braking System market. There has been an increase of air traffic witnessed during the recent years due to rise in travelling. The statistics shows a rise in air traffic internationally which would result in increased demand for new airplanes which would directly impact the sales of aircraft brake systems. Hence, rise in air traffic is anticipated to expected to the growth of the aircraft brake system market.
Technological Improvements is Expected to Boost the Growth of the Market
The technological advancements in the aircraft braking system will be a significant driver as players will be willing to concentrate on the safety and efficiency of their aircraft and passengers. Upgradation and maintenance services have the highest order of braking systems for their aircraft.
Restraint
Stringent Regulatory Norms May Restrain the Market Growth
Regulatory bodies of the aerospace industry established strict regulatory environmental norms to ensure safety standards for improvement of the aviation industry. These stringent regulations require the manufacturers and service providers to adhere to few complex manufacturing and QA procedures. The braking system providers need to adhere to tests & certification processes for supporting systems to be able to fit on aircraft.
Aircraft Braking System Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America market is expected to account for largest share during the forecast period owing to increasing aerospace mergers & various activities by key market players. Asia Pacific market is expected to register fastest CAGR owing to increasing activities by key market players. Anti-Skid Braking System will improve operations at airports having short runways. Hence, increasing activities by market players is leading to an increased demand for aircraft braking system, which is expected to drive market revenue growth.
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COVID-19 outbreak forced governments to impose strict lockdown measures which resulted in travel bans, resulting in cancellations of many flights and restrictions on e-commerce services, which led to reduction in aviation and logistics activities in the world. Imposing lockdowns disrupted supply chain, as manufacturing facilities had to shut down their operations partially or fully. COVID-19 pandemic had a negative impact on the Aircraft Braking System market.
Aircraft Braking System Market is further segmented by region into:
Aircraft Braking System Market Segments:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 9.76 billion |
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Revenue forecast in 2032 |
USD 15.1 billion |
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Growth Rate |
CAGR of 4% from 2022 to 2032 |
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Base year for estimation |
2021 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Component, Aircraft Type, Actuation, Distribution and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
Safran, Meggitt PLC, Beringer Aero, Collins Aerospace, Honeywell International, Inc., Jay-Em Aerospace, Matco MFG, Grove Aircraft Braking Systems Inc., Crane Holdings, Co., Parker-Hannifin Corp and Other Prominent Players |
Aircraft Braking System market size was estimated at 9.76 billion USD in 2021 and is expected to reach 15.1 billion USD by 2032.
Aircraft Braking System is used to reduce the speed of aircraft during landing on the runway. It is an essential component to ensure safety and control of the directional of an aircraft during ground operations like landing, take-off & taxiing.
Fixed Wing and Power brake segment accounted for the largest Aircraft Braking System market share.
Key players: Safran, Meggitt PLC, Beringer Aero, Collins Aerospace, Honeywell International, Inc., Jay-Em Aerospace, Matco MFG, Grove Aircraft Braking Systems Inc., Crane Holdings, Co., Parker-Hannifin Corp and Other Prominent Players are the key players in the Aircraft Braking System market.
Increased air traffic and Technological improvements are the factors driving the Aircraft Braking System market.
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