New York, United States , July 22, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft Braking System Market Size to Grow from USD 7.3 Billion in 2023 to USD 8.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 1.53% during the forecast period.
Get a Sample PDF Brochure: https://www.sphericalinsights.com/request-sample/5202
The aircraft braking system market is expanding rapidly, driven by increased air traffic, advances in aviation technology, and rising demand for contemporary, effective braking solutions. Wheels, brakes, and braking control systems are critical components of this sector because they allow aircraft to operate safely. Electric and carbon brake systems are gaining popularity due to their improved performance and lighter weight. The necessity for updates in existing aircraft, as well as the expansion of the commercial and military aviation sectors, are driving the industry forward. Major players are focusing on R&D to create new brake technology that will improve safety, dependability, and cost-effectiveness. This dynamic market is poised for ongoing growth, fueled by worldwide increases in aircraft manufacturing and fleet modernization activities.
Aircraft Braking System Market Value Chain Analysis
The value chain for aircraft braking systems includes multiple crucial stages, beginning with raw material suppliers who provide essential components such as metals, composites, and electronic elements. These materials are then used by manufacturers to make braking system components such as wheels, brakes, and control systems. OEMs incorporate these components into aeroplanes during assembly. The aftermarket segment is critical, providing maintenance, repair, and overhaul (MRO) services to maintain system reliability and safety throughout the aircraft's lifecycle. Braking systems are delivered to a variety of end customers, including commercial airlines and military operators, through distribution channels such as direct sales and third-party distributors. Suppliers, manufacturers, OEMs, and service providers work together to ensure high quality and performance requirements along this value chain.
Aircraft Braking System Market Opportunity Analysis
The aircraft braking system market is expected to grow significantly as the global aviation sector expands and air traffic increases. The trend towards lighter, more fuel-efficient aircraft drives the demand for innovative braking systems such as carbon and electronic brakes, which provide improved performance and efficiency. Emerging markets in Asia-Pacific and the Middle East, with increased investment in aviation infrastructure and new airline establishments, provide promising opportunities. Furthermore, the rising emphasis on aviation safety and high regulatory standards necessitates constant upgrades and maintenance, resulting in a significant aftermarket business. Technological improvements, like as autonomous braking systems and predictive maintenance, provide more opportunities for innovation. Collaboration among important industry participants, as well as ongoing R&D activities, are critical for capitalising on these prospects and meeting changing market demands.
Technological advances in the aircraft braking system industry are transforming brake components, improving performance, safety, and efficiency. Carbon composite brakes, which offer higher heat dissipation, a longer lifespan, and less weight than typical steel brakes, are one example of such innovation. Electric brake systems are gaining popularity, enabling more accurate control and faster response times while removing the need for hydraulic fluid, lowering maintenance costs. The integration of sophisticated materials and smart sensors allows for real-time monitoring and predictive maintenance, which improves dependability and reduces downtime. Furthermore, advances in anti-skid and automated braking systems have improved aircraft safety during landing and ground operations.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Aircraft Braking System Market Size, Share, and COVID-19 Impact Analysis, Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), By End Use (OEM, Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
Buy Now Full Report: https://www.sphericalinsights.com/checkout/5202
Insights by Component
The actuators segment accounted for the largest market share over the forecast period 2023 to 2033. Electric actuators are increasingly favoured over traditional hydraulic ones because to their improved control, faster response times, and lower maintenance requirements. These actuators improve the performance of current braking systems, such as carbon and electronic brakes, by enabling precise modulation and dependability. The increased manufacturing of next-generation aircraft, as well as the move towards more electric aircraft (MEA), are driving the expansion of this market. Furthermore, the emphasis on lowering aircraft weight and increasing fuel efficiency leads to the growing use of sophisticated actuators. Continuous R&D and technical innovation are required to suit the changing needs of the aviation sector, moving the actuators segment forward.
Insights by End Use
The OEM segment accounted for the largest market share over the forecast period 2023 to 2033. The OEM segment of the aircraft brakes market is expanding rapidly, owing to increased production rates for commercial and military aircraft. Leading aircraft manufacturers are progressively using sophisticated braking systems including carbon composite and electric brakes to improve performance, safety, and efficiency. Technological advancements and a focus on lightweight, fuel-efficient aircraft drive demand for advanced braking solutions from OEMs. The expansion of global air travel, as well as the launch of new aircraft models by significant manufacturers such as Boeing and Airbus, help to drive this increase.
Inquire Before Buying This Research Report: https://www.sphericalinsights.com/inquiry-before-buying/5202
Insights by Region
North America is anticipated to dominate the Aircraft Braking System Market from 2023 to 2033. The North American aircraft braking system market is significant, owing to the presence of major aircraft manufacturers such as Boeing and vast airline networks. The region benefits from substantial investments in aviation infrastructure as well as extensive R&D efforts to develop new brake systems. High air traffic volumes and the need for effective, lightweight, and dependable braking systems drive market expansion. Furthermore, severe safety laws and standards mandate the ongoing update and repair of braking systems, encouraging a robust aftermarket business. The military aviation industry also contributes to market demand through continuous modernization programmes and fleet expansions.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Emerging economies such as China and India are making significant investments in aviation infrastructure, increasing the demand for sophisticated braking systems. The region's developing commercial aviation sector, along with strong development in low-cost carriers, helps to drive market expansion. Technological breakthroughs and collaborations between local and global manufacturers accelerate the development of novel braking technologies, such as carbon and electric brakes. The rising military aviation category, which includes multiple modernization programmes, also drives market demand. Despite constraints such as regulatory compliance and high starting costs, the Asia-Pacific market offers significant prospects for growth, aided by ongoing investments and a rising aerospace industry.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies covered: AAR Corp, Beringer Aero, Collins Aerospace, Crane Co., Honeywell International Inc., Lufthansa Technik AG, Meggitt PLC, Parker-Hannifin Corporation, Parker Hannifin Corp, Safran, The Carlyle Johnson Machine Company, and other key companies.
Get Discount At @ https://www.sphericalinsights.com/request-discount/5202
Recent Market Developments
- In August 2022, RUAG Australia has signed an agreement with Honeywell International Inc. to become an Authorised Service Centre for the F-35 Joint Strike Fighter Wheels and Brakes programme in Asia Pacific.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aircraft Braking System Market, Component Analysis
- Wheels
- Brake Discs
- Brake Housing
- Valves
- Actuators
- Accumulator
- Electronics
Aircraft Braking System Market, End Use Analysis
- OEM
- Aftermarket
Aircraft Braking System Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
Browse Related Reports
Global Asteroid Mining Market Size, Share, and COVID-19 Impact Analysis, By Phase (Launch, Operation, Space-Craft Design), By Type (Type C, Type M, Type S), By Application (Construction, Resource Harvesting, 3D Printing, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
Global Military Vehicle Electrification Market Size, Share, and COVID-19 Impact Analysis, By System (Power Generation, Cooling Systems, Energy Storage, Traction Drive Systems, and Power Conversion), By Platform (Combat Vehicles, Support Vehicles, and Unmanned Armored Vehicles), By Technology (Hybrid and Fully Electric Segments), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
Global Diesel Engines Market Size, Share, and COVID-19 Impact Analysis, By Type (Internal Combustion Engines (ICE), External Combustion Engines), By Speed (Low, Medium, High), By Power Rating (0.5-1 MW, 1-2 MW, 2-4 MW, and Above 4 MW), By End User (Construction, Agriculture, Marine, Power Plants, And Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
Global Wooden Satellite Market Size, Share, and COVID-19 Impact Analysis, By Type (Nanosatellite, Micro Satellite, Mini Satellite, Large Satellite), By End User (Military & defense, Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Follow Us: LinkedIn | Facebook | Twitter
