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The Worldwide Aircraft Braking System Industry is Expected to Reach $13.1 Billion by 2026 at a CAGR of 3.6% from 2021 - ResearchAndMarkets.com

·4 min read

DUBLIN, July 29, 2021--(BUSINESS WIRE)--The "Aircraft Braking System Market by Aircraft Type, End Use (OEM, Aftermarket), Actuation (Power Brake, Boosted Brake, Independent Brake), Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global aircraft braking system market size is projected to grow from USD 10.9 billion in 2021 to USD 13.1 billion by 2026, at a CAGR of 3.6% from 2021 to 2026.

Actuators: The largest segment of the aircraft braking system market, by component.

The actuators segment is expected to be the largest market by value. Actuators in braking systems are used to convert the hydraulic fluid pressure into motion. Brake actuators are used to move the piston to apply pressure to the discs together, thus generating friction to stop the aircraft. The majority of brake actuators used on commercial aircraft are hydraulic, although electrically powered electromechanical actuators are also present in the market. Brakes on the Airbus A220 (formerly known as the Bombardier C-series) and the Boeing 787 are actuated electromechanically.

Independent Brake: The fastest-growing segment of the aircraft braking system market, by type.

Based on actuation, the independent brake segment is projected to be the highest CAGR rate for the aircraft braking system market during the forecast period. The growth of the independent brake segment of the aircraft braking system market can be attributed to the increasing demand for general aviation and regional aircraft.

Unmanned Aerial Vehicles: The fastest-growing segment of the aircraft braking system market, by aircraft type.

Based on the aircraft type, the unmanned aerial vehicles segment is projected to grow at the highest CAGR rate for the aircraft braking system market during the forecast period. UAVs are commonly termed drones and are mostly known for their wide usage in various military missions such as border surveillance. They are also used for mapping, surveying, and determining weather conditions of a specific area. Certain remotely piloted UAVs are designed to operate as loitering munition for defense forces.

OEM: The fastest-growing segment of the aircraft braking system market, by end use.

Based on the end use, the OEM segment is projected to grow at the highest CAGR rate for the aircraft braking system market during the forecast period. OEMs are responsible for the installation of braking system in an aircraft during the assembly stage and are then made available for delivery to aircraft manufacturers. Over the years, there has been a significant rise in the demand for different aircraft types across regions. According to Airbus, it delivered 863 commercial aircraft to 99 customers in 2019.

North America: The largest contributing region in the aircraft braking system market.

North America is projected to be the largest regional share of the aircraft braking system market during the forecast period. The key factor responsible for North America, leading the aircraft braking system market owing to the rapid growth of the technologically advanced braking system in the region. In North America, the rise in aircraft orders and supplies is encouraging manufacturers of aircraft braking system to increase their sales year on year. The increasing demand for commercial aircraft and the presence of some of the leading players operating in the market, such as Crane Co., Parker-Hannifin Corporation, Honeywell International, Inc, are expected to drive the aircraft braking system market in North America. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing aircraft braking system.

Market Dynamics

Drivers

  • Increase in Operations in the Commercial Aircraft Industry

  • Technological Improvement in Aircraft Braking Component

Restraints

  • Long Life Span of Aircraft Braking System

  • Manufacturing Challenges Faced by Product Manufacturers

Opportunities

  • Expanding Mro Service Providers in Asia-Pacific and Latin America

  • Growth of the Unmanned Aerial Vehicles Industry

Challenges

  • COVID-19 Affecting the Aviation Industry

  • Stringent Regulatory Environment

Companies Mentioned

  • Aar Corp.

  • Airframes Alaska

  • Aviation Products Systems, Inc.

  • Beringer Aero

  • Carlyle Johnson

  • Collins Aerospace

  • Crane Co.

  • Electroid

  • Goldfren

  • Grove Aircraft Landing Gear Systems Inc.

  • Honeywell International, Inc.

  • Hong Kong Aircraft Engineering Company Limited

  • Jamco

  • Jay-Em Aerospace

  • Lufthansa Technik AG

  • Matco Mfg.

  • Mcfarlane Aviation

  • Meggitt plc

  • Mros

  • Nmg Aerospace

  • Oems

  • Parker-Hannifin Corporation

  • Rapco Inc.

  • Safran

  • Sonex Aircraft LLC

  • Sumitomo Precision Products Co. Ltd

  • Tactair

For more information about this report visit https://www.researchandmarkets.com/r/x2f4me

View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005768/en/

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