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Aircraft Braking System Market - By Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), By Actuation, By Aircraft Type, By End-use Industry & Forecast, 2023 – 2032
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Aircraft Braking System Market
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Premium Report Details
Base Year: 2022
Companies covered: 15
Tables & Figures: 346
Countries covered: 21
Pages: 220
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Aircraft Braking System Market Size
Aircraft Braking System Market was valued at USD 6.8 billion in 2022 and is anticipated to grow at a CAGR of over 4% between 2023 and 2032.
The global surge in air travel, driven by rising disposable incomes, urbanization, and a growing middle-class population, has led to a higher demand for new commercial aircraft. This, in turn, necessitates advanced braking systems to ensure safety during landing and ground operations. Furthermore, airlines frequently expand their fleets to meet this heightened demand, creating a substantial market for braking system manufacturers. As aircraft fleets expand, older aircraft are phased out or retrofitted, requiring the installation of modern braking systems to meet evolving safety and efficiency standards.
Additionally, continuous technological advancements in braking systems including carbon brakes and anti-skid technology contribute to market growth as airlines seek more reliable & efficient options to reduce operational costs and enhance passenger safety. For instance, in May 2022, AllClear Aerospace & Defense (“AllClear”) has signed a multi-year distribution agreement with Aircraft Wheel and Brake, LLC, a Kaman company. Through this partnership, AllClear continues to expand its product portfolio and military aerospace aftermarket support for the KT-1 and KT-100 programs.
Manufacturing challenges are a pitfall in the aircraft braking system market due to the complexity and precision required in producing these critical components. Aircraft braking systems must adhere to stringent quality and safety standards, necessitating advanced manufacturing processes & materials. Challenges include the need for precision machining, heat-resistant materials, and strict adherence to aviation regulations. Additionally, ensuring consistency in large-scale production while maintaining high quality can be a significant hurdle. Variations in manufacturing processes can lead to defects, jeopardizing safety. To overcome these challenges, manufacturers must invest in advanced technologies, quality control measures & skilled labor, which can increase production costs.
COVID-19 Impact
The COVID-19 pandemic had negative impacts on the aircraft braking system market. With the sharp decline in air travel and grounded fleets, the demand for new aircraft and related components including braking systems plummeted. Airlines deferred maintenance & upgrade projects, reducing the replacement and retrofitting of braking systems. The financial strain on the aviation industry hindered investments in technological advancements and system enhancements. Delays in aircraft deliveries further suppressed the market. As air travel slowly recovers, the market is expected to regain momentum; however, the pandemic's effects continue to linger, resulting in a delayed and sluggish recovery for the aircraft braking system industry.
Aircraft Braking System Market Trends
The development of electro-mechanical braking systems is a notable trend. They are crucial for electric & hybrid-electric aircraft as they offer precise control and the ability to recover energy during braking, thus enhancing overall efficiency. These systems provide regenerative braking, converting kinetic energy into electrical energy that can be stored or used to power other aircraft systems. Electro-mechanical brakes are pivotal in supporting the growth of environmentally friendly electric propulsion technologies while also providing a safer and more reliable braking solution.
A trend toward integrated brake control systems is emerging, featuring seamless integration with aircraft avionics and data networks. This allows for real-time monitoring of brake system performance, which enhances safety and simplifies maintenance. These systems enable predictive maintenance by collecting and analyzing data from the brake system, helping operators identify & address issues before they become critical. The integration of braking systems with other aircraft systems streamlines operation, improves safety, and reduces downtime, contributing to enhanced operational efficiency in the aviation industry.
Aircraft Braking System Market Analysis
Based on aircraft type, the market is segmented into fixed-wing, rotary-wing, unmanned aerial vehicles, and advanced air mobility. The fixed-wing segment dominated the global market with a share of over 40% in 2022.
Based on actuation, the market is divided into independent brake systems, boosted brake systems, and power brake systems. The boosted brake systems segment is anticipated to register a CAGR of over 5% through 2032.
North America dominated the global aircraft braking system market with a share of over 30% in 2022. North America is home to a significant portion of the world's aviation industry including major aircraft manufacturers, airlines & suppliers, creating a robust demand for advanced braking systems. Additionally, there is a continuous emphasis on safety and regulatory compliance in the region, driving the need for modern & reliable braking technologies. The increasing air travel demand and fleet expansion further contribute to the regional market expansion. Lastly, technological advancements in lighter and more efficient brake systems align with the industry's focus on fuel efficiency and environmental responsibility.
Aircraft Braking System Market Share
Players operating in the market focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players also heavily invest in research & development to introduce innovative and technologically advanced solutions in the industry. Some major players operating in the aircraft braking system industry are mentioned below:
Aircraft Braking System Industry News
The aircraft braking system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:
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Market, By Component
Market, By Actuation
Market, By Aircraft Type
Market, By End-use Industry
The above information is provided for the following regions and countries: