About Aircraft Air Brakes Market
The global aircraft air brakes market is expected to grow at a significant pace during the forecast period, according to the AMA study. The factors such as increasing global aircraft production and fleet propelled by the rising supply of commercial planes to cater to the growing passenger traffic across different regions of the world are one of the major factors driving the market. In addition, growing concerns regarding the safety & security of passengers and aircraft during landing operations of an aircraft is another major actor aiding into the growth of the market globally.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on developing new and innovative products along with the latest technologies in order to cater to the burgeoning demand for aircraft parts and components. For instance, in July 2018, Spirit AeroSystems announced that it has opened a new research and development complex at its manufacturing site in Prestwick, Scotland which will focus on infusion processes for composites materials, part handling, assembly automation, rapid prototyping, and virtual/augmented reality. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Aircraft Air Brakes Market market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Strata Manufacturing (UAE), Spirit Aerosystems (United States), Nabtesco Aerospace, Inc. (United States), Saab AB (Sweden), Triumph Group (United States), Ducommun Incorporated (United States), GKN Aerospace Services Limited (United States), Safran (France), The NORDAM Group LLC (United States) and FACC AG (Austria) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Aircraft Air Brakes Market market by Type (Wing Flaps, Ailerons, Spoilers, Thrust Reversers and Others), Application (Commercial Aircraft {Narrow-Body, Wide Body, Very Large}, Military Aircraft, General Aviation and Regional Aircraft) and Region.
On the basis of geography, the market of Aircraft Air Brakes Market has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Installation, the sub-segment i.e. Wing Mounted will boost the Aircraft Air Brakes Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. OEMs will boost the Aircraft Air Brakes Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. B737 Series will boost the Aircraft Air Brakes Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Composites will boost the Aircraft Air Brakes Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Manufacturing Process, the sub-segment i.e. Hand Layup will boost the Aircraft Air Brakes Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Composite Aircraft Winglets Propelled by Increasing Production of Composite based Aircraft Components and Growing Demand for Short Runway Take-off & Landing Owing to Introduction of Advanced Air Brake Technology
Market Growth Drivers:
Increasing Global Aircraft Production and Fleet Propelled by Increasing Demand & Supply of Commercial Planes due to Rising Passenger Traffic Across the World and Rising Concerns Regarding Safer Take-off and Landing Propelling the Aircraft Air Brake Market
Challenges:
Suspended Production of Boeing 737 Max Series Hampering the Aerospace Components Market and thereby Air Brakes Technology Market
Restraints:
High Cost of System Due to Additional Presence of Air Dryers for Moisture Removal in Air Brake Systems
Opportunities:
Growing Concerns Towards Safer Take-off and Landings Will Create Large Opportunities for Winglet, Sharklets, and Fairing Manufacturers in the near Future and Expected Commercial Aircraft Deliveries of Over 36,000 Commercial Aircraft During the Next 20 years Will Create Huge Opportunity for Air Brake Vendors
Market Leaders and their expansionary development strategies
In April 2022, European Commission regulators have cleared Parker Hannifin’s proposal of Meggitt acquisition. Meggitt is one of prominent airspace firm of UK. The acquisition is conducted with the euro 63 billion. With this acquisition, Parker is able to diversify its portfolio of wheels and breaks for different aircrafts.
In May 2021, HAECO Group has extended its long term agreement with German cargo airline AeroLogic GmbH (AeroLogic). With the new agreement, U HAECO is anticipating for providing heavy maintenance services to AeroLogic’s Boeing 777-200 freighter fleet. company has extended the agreement for the duration of 2021- 2024. Company is covering the maintenance of current fleet of 18 Boeing 777F aircraft under the agreement.
Federal Aviation Administration regulation mandates regarding the operation of aircraft brakes under section 25.375 of the aviation regulations. It consist of various tests and certifications for the manufacturing of braking system components. According to the regulation, assembly consisting of a wheels and brakes is need of and to be approved. In case of any electrical, hydraulic or mechanical damage, breaking system must designed and capable for bringing airplane to the rest in safer manner.
Key Target Audience
Government Agencies, Government regulatory authorities, End User Industry, Customer and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.