USD 6.38 billion
Aircraft Braking System Market Size, Share, Growth Analysis, By Actuation(Independent, boosted and power brake systems), By End user(OEM and aftermarket), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2116 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Aircraft Braking System Market Insights
Aircraft Braking System Market size was valued at USD 6.6 billion in 2022 and is poised to grow from USD 6.83 billion in 2023 to USD 8.99 billion by 2031, growing at a CAGR of 3.5% during the forecast period (2024-2031).
The global aircraft braking system market is currently witnessing robust growth, driven by increasing air travel demand and the expansion of the aviation industry.
As of the present, the market is characterized by a surging demand for technologically advanced, reliable, and efficient braking systems to ensure enhanced safety and operational efficiency of aircraft. Airlines and aircraft manufacturers are continually focusing on adopting state-of-the-art braking technologies, such as carbon brakes, electric brakes, and anti-skid systems, to improve aircraft performance and reduce maintenance costs.
Moreover, stringent aviation safety regulations implemented by regulatory authorities across the globe are compelling airlines to upgrade their existing braking systems and invest in novel solutions. Additionally, the rising trend towards the adoption of lightweight materials and advancements in electronic braking systems are further propelling market growth.
Geographically, the market is experiencing significant traction in emerging economies, thanks to the continuous expansion of air travel and the modernization of aircraft fleets in these regions.
Major players in the aircraft braking system industry are actively engaging in research and development activities, collaborations, and strategic partnerships to gain a competitive edge and capture a larger market share. As technology continues to evolve, the global aircraft braking system market is anticipated to maintain its upward trajectory in the foreseeable future.
US Aircraft Braking System Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Independent brake systems
Fastest Growth
Independent brake systems
Growth Rate
3.5% CAGR
Global Aircraft Braking System Market ($ Bn)
Country Share for North America Region (%)
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Aircraft Braking System Market Segmental Analysis
The global aircraft braking system market is segmented on the basis of actuation, end user, and region. Based on actuation, the market can be segmented into Independent, boosted and power brake systems. Based on end user, the market is segmented into OEM and aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Aircraft Braking System Market Analysis By Actuation
The dominant segment in the global aircraft braking system market is currently the independent brake systems. Independent brake systems are widely used in various aircraft types due to their simplicity, ease of maintenance, and proven track record of safe operations. Many airlines and aircraft manufacturers prefer independent brake systems for their versatility and ability to function effectively in different aircraft configurations.
The fastest-growing segment in the global aircraft braking system market is the power brake systems. Additionally, ongoing advancements in power brake technology, such as electronic integration and sensor-based control, further contribute to the rapid growth of this segment. As airlines seek to optimize aircraft performance and safety, the adoption of power brake systems is expected to witness substantial growth in the coming years.
Aircraft Braking System Market Analysis By End User
The dominant segment in the global aircraft braking system market is the OEM (Original Equipment Manufacturer) segment. The increasing demand for new aircraft to cater to the rising air travel needs and fleet modernization initiatives by airlines drives the growth of the OEM segment. As aircraft manufacturers strive to offer technologically advanced and fuel-efficient aircraft, they also prioritize integrating high-quality and reliable braking systems into their products.
The fastest-growing segment in the global aircraft braking system market is the aftermarket segment. Factors contributing to the rapid growth of the aftermarket segment include the increasing global aircraft fleet size, which requires regular maintenance and replacement of aging braking components, and the continuous need for upgrades to comply with evolving aviation regulations. Additionally, advancements in aftermarket services and the availability of cost-effective retrofit solutions have further bolstered the growth of this segment. As airlines focus on maximizing the lifespan and efficiency of their existing aircraft, the aftermarket for aircraft braking systems is projected to witness significant expansion in the near future.
Global Aircraft Braking System Market By Actuation
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Aircraft Braking System Market Regional Insights
The dominant segment in the global aircraft braking system market is currently North America. North America holds a significant market share due to the presence of major aircraft manufacturers, such as Boeing and Airbus, and a large number of airlines with extensive fleets. The region's well-established aviation industry, stringent safety regulations, and robust demand for advanced aircraft contribute to the dominance of North America in the aircraft braking system market. Moreover, the continuous focus on technological advancements and the adoption of innovative braking solutions by airlines and aircraft operators in the region further solidify its leading position.
The fastest-growing segment in the global aircraft braking system market is Asia Pacific. The Asia Pacific region is witnessing rapid growth in air travel, primarily driven by a rising middle-class population, increasing disposable income, and expanding tourism industry. As a result, airlines in this region are rapidly expanding their fleets and ordering new aircraft to cater to the growing demand for air travel. This surge in aircraft procurement, coupled with the implementation of stringent aviation safety regulations, is propelling the demand for efficient and reliable aircraft braking systems in Asia Pacific. Additionally, government initiatives to develop and upgrade airports to accommodate the increasing air traffic are further boosting the demand for aircraft braking systems in the region, making it the fastest-growing market for these systems.
Global Aircraft Braking System Market By Geography
- Largest
- Fastest
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Aircraft Braking System Market Dynamics
Aircraft Braking System Market Drivers
Increasing Demand For Air Travel
- One key driver of the global aircraft braking system market is the increasing demand for air travel. The growth of air travel, particularly in emerging economies, is driving airlines to expand their fleets and invest in new, technologically advanced aircraft. As the number of aircraft in operation rises, the demand for efficient and reliable aircraft braking systems also increases, creating significant opportunities for the market.
Aircraft Braking System Market Restraints
High Cost Associated With Advanced Braking Technologies
- A key restraint of the global aircraft braking system market is the high cost associated with advanced braking technologies. While these technologies offer improved performance and safety, they often come at a higher price point, which can pose a challenge for airlines, especially in regions with budget constraints. The cost factor may lead some airlines to prioritize cheaper alternatives or delay upgrading their braking systems, impacting the overall growth of the market.
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Aircraft Braking System Market Competitive Landscape
The competitive landscape of the global aircraft braking system market is characterized by intense competition among key players vying for market share. Companies are focused on continuous research and development to offer innovative and technologically advanced braking solutions that meet stringent aviation safety standards. Additionally, strategic partnerships, collaborations, and acquisitions are common strategies employed by companies to expand their product portfolios and enhance their global presence. With a growing emphasis on lightweight materials, electronic integration, and energy-efficient systems, the market is witnessing a push towards more sustainable and cost-effective solutions. The competitive environment fosters a race to deliver reliable, high-performance aircraft braking systems to cater to the increasing demand from airlines and aircraft manufacturers worldwide.
Aircraft Braking System Market Top Player’s Company Profiles
- Safran (France)
- Collins Aerospace (US)
- Parker-Hannifin Corporation (US)
- Crane Co. (US)
- Honeywell International Inc. (US)
- Meggitt PLC (UK)
- Beringer Aero (France)
- UTC Aerospace Systems (US)
- Lufthansa Technik AG (Germany)
- Matco Mfg. (US)
- AAR Corporation (US)
- Meggit Aircraft Braking Systems (UK)
- Circor Aerospace & Defense (US)
- Dunlop Aircraft Tyres (UK)
- Brembo S.p.A (Italy)
- Liebherr Group (Switzerland)
- Messier-Bugatti-Dowty (France)
- UTC Aerospace Systems (US)
- Saab AB (Sweden)
- Moog Inc. (US)
Aircraft Braking System Market Recent Developments
- In August 2022, RUAG Australia entered into a contract with Honeywell International Inc. to serve as an Authorized Service Centre for the F-35 Joint Strike Fighter Wheels and Brakes program in the Asia Pacific region.
- In April 2022, Air Transport Services Group (ATSG), the largest cargo aircraft lessor globally, announced its plans to upgrade over thirty Boeing 767Fs in its fleet to feature a uniform wheel and brake design.
Aircraft Braking System Key Market Trends
Increasing Adoption Of Lightweight Materials, Particularly Carbon Brakes
- One key market trend in the global aircraft braking system market is the increasing adoption of lightweight materials, particularly carbon brakes. Carbon brakes offer significant advantages over traditional steel brakes, such as reduced weight, higher strength, and improved reliability. As airlines and aircraft operators strive to enhance aircraft performance and fuel efficiency, the trend towards using carbon brakes has gained momentum. The shift towards lightweight materials is driven by the industry's focus on sustainability, cost-effectiveness, and compliance with stringent aviation regulations, making it a prominent trend in the aircraft braking system market.
Aircraft Braking System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aircraft braking system market analysis, The global aircraft braking system market is witnessing robust growth, driven by increasing air travel demand and the expansion of the aviation industry. The market is segmented based on actuation into Independent, boosted, and power brake systems, with the independent brake systems currently dominating the market. One key driver is the increasing demand for air travel, while the high cost of advanced braking technologies acts as a restraint. The trend of adopting lightweight materials, particularly carbon brakes, is gaining prominence as airlines seek improved performance and fuel efficiency.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.38 billion |
| Market size value in 2031 | USD 8.69 billion |
| Growth Rate | 3.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aircraft Braking System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aircraft Braking System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aircraft Braking System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aircraft Braking System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aircraft Braking System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aircraft Braking System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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