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

Aircraft Braking System Market size was valued at USD 6.38 billion in 2021 and is poised to grow from USD 6.6 billion in 2022 to USD 8.69 billion by 2030, at a CAGR of 3.5% during the forecast period (2023-2030).

The competitive landscape of the 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 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. '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)'

One key driver of the 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.

One key market trend in the 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.

The dominant segment in the 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.