Research Nester published a report titled “Aircraft Brake Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the aircraft brake market in terms of market segmentation by brake type, component type, fit type, end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The aircraft brakes are generally used for decelerating the aircraft during the landing roll on the runway and are operated hydraulically or pneumatically, they are an essential component to ensure the safety and directional control of an aircraft during ground operations, such as take-off, landing, and taxiing. Designing and developing of aircraft brake system depends upon various parameters, such as minimum stopping distance, better heat dissipation, and easy maneuvering. The aircraft brake market is segmented by component type into wheels, brakes, and braking systems, out of which, the brakes segment is anticipated to hold leading shares on the back of the high demand for carbon brakes and technological progressions in braking systems, such as electric braking systems.
The aircraft brake market is anticipated to record a robust CAGR over the forecast period i.e. 2020-2028. Increase in passenger movement across the globe which is one of the major reasons for the growing fleet size of commercial and defense aircraft, is therefore anticipated to promote towards the growth of the global aircraft brake market during the forecast period. The International Civil Aviation Organization, in one of its statistics, stated that, in the year 2018, airlines worldwide carried around 4.3 billion passengers annually with 8.3 trillion revenue passenger kilometers (RPKs).
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Based on regions, the aircraft brake market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The Asia-Pacific region is anticipated to have the highest growth during the forecast period on account of notable growth in the passenger traffic whereas North America is estimated to hold the largest share in the aircraft brake market for carbon brakes, owing to the presence of a large number of market participants.
Rise in the Traffic of Air Passengers
The increase in the demand for aircraft on account of the increment of air passengers in recent years, which is also raising the need amongst the aircraft operators to use their existing fleet at full optimization, and therefore the need for maintenance of the aircrafts, are anticipated to drive the growth of the global aircraft brakes market. On the other hand, the increasing need for advanced aircrafts, followed by the need amongst airline operators to update their existing fleet are some of the additional factors anticipated to drive the growth of the global aircraft brake market in the coming years.
However, factors such as maintenance and operational cost of aircraft brake systems coupled with long-term contracts with the existing top players are expected to operate as a key restraint to the growth of the aircraft brake market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the aircraft brake market which includes company profiling of Honeywell International Inc. (NYSE: HON), UTC Aerospace Systems, Crane Aerospace & Electronics, AAR Corp. (NYSE: AIR), Bauer, Inc. (ETR: B5A), Hong Kong Aircraft Engineering Company (HKG: 0044),Meggitt Aircraft Braking Systems Corporation, Grove Aircraft Landing Gear Systems Inc., Beringer Aero, Parker Hannifin Corporation (NYSE: PH). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the aircraft brake that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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