Aircraft Braking System Market Expected to Reach US ~$13.84 Billion and CAGR 3.4% by 2028
The global aircraft braking system market size is expected to reach USD 13.84 billion by 2028 according to a new study by Polaris Market Research.
Increasing demand for providing braking systems with improved thermal oxidation protection reduced maintenance cost of operations, and significant weight reduction translating into lower carbon emissions are some of the prime drivers of the market across the globe. Modern airplane platforms in the industry are witnessing a trend of carbon disk brakes along with electrical system integration replacing mechanical wire linkages and hydraulics driving the demand for lightweight and highly durable carbon-fiber-based braking systems in the industry.
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Among components, the electronics segment is estimated to witness the highest growth in the market during the forecast period driven by the transition of conventional hydraulic brake lines, cylinders, and fluids with break-by-wire electronic braking. Regulatory bodies have created pressure in the airplane industry to get all hydraulics out of the cabin pressure in response to fire-safety concerns over a long time, creating a solid retrofit demand for upgrading into electronic power braking switching from the mechanical, hydraulic system.
North America holds high dominance and is attributed to re-gain share in the global market with its come-back solid plans to recoup the losses faced in the pandemic. Boeing’s long-halted best-selling airplane platform. B737Max has been increasing production rates and aiming to continue to ramp up production rates in the coming years. Boeing has already announced its preliminary plan to lift output by 31 per month in early 2022 and further increase to 42 per month by the fall of 2022. The Asia Pacific holds a small share but represents the highest growth potential in the global market supported by robust growth in airplane deliveries and air and cargo traffic.
Major participants such as The Carlyle Johnson Machine Company, Llc., Grove, Mcfarlane Aviation, Inc., Meggitt Plc, 1motoshop Llc, Aviation Products Systems, Inc., Beringer Aero, Crane Aerospace & Electronics., Aircraft Landing Gear Systems Inc., Honeywell International, Inc, Jay-Em Aerospace, Matco Mfg., Parker-Hannifin Corporation, Rapco, Inc., Safran, Sonex Aircraft, Llc, Tactair, Airframes Alaska, and Collins Aerospace are some of the key players competing globally.
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Polaris Market research has segmented the aircraft braking system market report on the basis of component, aircraft, end-use, and region:
Aircraft Braking System, Component Outlook (Revenue, USD Billion, 2016 – 2028)
- Brake Disc
- Brake Housing
Aircraft Braking System, Aircraft Outlook (Revenue, USD Billion, 2016 – 2028)
- Commercial Aircraft
- Regional Jet
- General Aviation
- Military Aircraft
Aircraft Braking System, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
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