Aircraft Brake System Market Scope
During the landing roll on the runway, the aircraft braking system is typically employed to slow down the aircraft. It's a required component for an aircraft's safety and directional control during ground operations including taxiing, landing, and takeoff. Previously, disc brakes were employed in aircrafts, with a disc rotating with the wheel assembly and a stationary calliper resisting rotation by producing friction against the disc when the brakes were applied. The electric braking system, on the other hand, has grown in popularity as a result of new technologies and improvements. This braking system includes anti-skid and completely integrated brake control, as well as emergency braking. The growth in air passenger traffic in recent years has resulted in an increase in aircraft demand. In addition, airlines all over the world are clamouring for new planes with cutting-edge technology. The aircraft industry is creating aeroplanes with advanced systems and components to suit the demand from airlines. As the demand for aeroplanes grows, so does the demand for aeroplane brake systems. The electrical braking system market has grown as a result of the demand for technological upgrades in existing aeroplane brake systems. Further more, brakes are required to operate in harsh settings, which increases the risk of brake material degradation due to corrosion.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Safran S.A. (France), UTC Aerospace Systems (United States), Honeywell International Inc. (United States), Crane Aerospace & Electronics (United States), Parker Hannifin Corporation (United States), AAR Corporation (United States), Beringer Aero (France), Lufthansa Technik AG (Germany), Jay-Em Aerospace, Inc. (United States), Meggitt (United Kingdom) and Hong Kong Aircraft Engineering Company Limited (Hong Kong) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Aircraft Brake System market throughout the predicted period.
Safran S.A. (France), UTC Aerospace Systems (United States), Honeywell International Inc. (United States), Crane Aerospace & Electronics (United States), Parker Hannifin Corporation (United States), AAR Corporation (United States), Beringer Aero (France), Lufthansa Technik AG (Germany), Jay-Em Aerospace, Inc. (United States), Meggitt (United Kingdom) and Hong Kong Aircraft Engineering Company Limited (Hong Kong) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aircraft Brake System market by Type , by Application (Commercial and Defense) and Region with country level break-up.
On the basis of geography, the market of Aircraft Brake System 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In April 2021, Alstom, a France-based rolling stock manufacturing company acquired Flertex for an undisclosed amount. Through this acquisition, Alstom will expand and strengthen its expertise in braking systems to meet the needs of its customers. Flertex is a France-based company that manufactures brake linings (pads and shoes) for aeronautical braking systems.
In May 2021 – Safran Landing Systems reached an agreement with Bell Textron Inc., a Textron Inc. (NYSE: TXT) company to provide the landing gear system for the V-280 Valor aircraft. Bell's V-280 Valor is a next-generation tiltrotor aircraft proposed for the U.S. Army's Future Long-Range Assault Aircraft (FLRAA) Program.
Influencing Trend:
Advancement in Braking System like Electric Braking System
Market Growth Drivers:
Increasing Aircraft Orders and The Rise in the Traffic of Air Passengers Worldwide
Challenges:
Issues Associated With Carbon Brakes and Stringent Regulatory Factors
Restraints:
High Operating and Maintenance Cost
Opportunities:
Increasing Demand for Lightweight Aircraft Components, Airlines Around the World are Demanding New Aircrafts with Advanced Technologies and Maintenance and Overhaul Requirement for Wheels and Brakes
Key Target Audience
Aircraft Brake System Manufacturers, Aircraft Brake System Material Manufacturers, Aircraft Brake System Service Providers, Subcomponent Manufactures, MRO Service Providers and Others