13-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Aircraft Braking System Market By Product (Carbon Brake, Expander Tube Brakes, & Others), By Application (Civil Aircraft & Military Aircraft), By End-User (OEMs & Aftermath), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. According to the report, the global Aircraft Braking System market was valued at approximately USD 11.2 Billion in 2020 and is expected to reach a value of around USD 15.3 Billion by 2026, at a CAGR of around 3.9% between 2021 and 2026.
Aircraft braking systems comprise aircraft disc brakes as the components that are used in the landing gear for putting brakes on the wheels during the landing of the aircraft on the ground. Additionally, the brakes are run pneumatically and in the new aircraft, they are triggered by the topmost part of the toe brakes.
Browse the full “Aircraft Braking System Market By Product (Carbon Brake, Expander Tube Brakes, & Others), By Application (Civil Aircraft & Military Aircraft), By End-User (OEMs & Aftermath), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/aircraft-braking-system-market-by-brake-type-carbon-304
Moreover, the systems also comprise thrust reversers that assist the engines to slow the aircraft's speed. In addition to this, aircraft braking systems include air brakes and giant drogue parachutes.
Burgeoning need for lightweight aircraft parts to boost the business trends
Massive demand for light airplane components along with the requirement for reducing the airplane parts will steer the growth of the aircraft braking system industry over the forecast timeline.
Furthermore, inflating the fleet size of aircraft as a result of massive passenger movement will steer the market growth over the forecast period. Apart from this, the renovation of braking systems in the current fleet is expected to drive the growth of the aircraft braking system industry over the forecast period. Nonetheless, the probability of rust in the braking material is likely to increase as the braking systems in airplanes function in extreme climatic conditions. This, in turn, can inhibit the market scope over the time span from 2019 to 2025. Moreover, huge operating & maintenance charges will further result in the hindrance of market growth over the forecast period. However, the launching of new braking techniques like electric braking technologies will offer new growth avenues for the market over the forecast timeframe.
Disc-Brakes to lead the brake type segment by 2025 in terms of value
The growth of the segment during the forecast timeline is due to the large-scale deployment of disc brakes in the aircraft braking systems as a result of its excellent performance & demonstrated efficiency in extreme climatic conditions.
Private aircraft segment to register highest CAGR over the forecast period
The segment is projected to record the highest growth rate of over 6% during the period from 2019 to 2025 owing to the large-scale use of private aircraft in developed countries like the U.S.
North America to dominate the overall market growth during 2019-2025 in terms of revenue
The regional market growth during the forecast period is credited to a rise in the demand for aircraft braking systems with a surge in commercial & private airplanes. Apart from this, the humungous presence of a large number of airplane producers in countries like the U.S. will further impel the regional market demand over the forecast timeline.
Top Market Players
The key market participants in the global aircraft braking system market are Honeywell International, Inc., Meggitt PLC, Safran, Crane Co, Parker-Hannifin Corporation, Unmanned Systems, UTC, Crane Aerospace, Beringer Aero, Matco Manufacturing, Lufthansa Technik, Jay-Em Aerospace & Machine, and Grove Aircraft Landing Systems, among others.
This report segments the Aircraft Braking System market as follows:
Global Aircraft Braking System Market: By Product Segment Analysis
- Carbon Brakes
- Expander Tube Brakes
Global Aircraft Braking System Market: By Application Segment Analysis
- Civil Aircraft
- Military Aircraft
Global Aircraft Braking System Market: By End-User Segment Analysis
Global Aircraft Braking System Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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