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Aircraft Braking System Market Size

Report ID: GMI5100
Published Date: Oct 2023
Report Format: PDF

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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.

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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.

Aircraft Braking System Market Report Attributes
Report Attribute	Details
Base Year:	2022
Aircraft Braking System Market Size in 2022:	USD 6.8 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4%
2032 Value Projection:	USD 10 Billion
Historical Data for:	2018 to 2022
No. of Pages:	220
Tables, Charts & Figures:	346
Segments covered:	USD 10 Billion Component, Actuation, Aircraft Type, End-use industry & Region
Growth Drivers:	Increasing operations in the commercial aircraft industry Technological improvements in aircraft braking components Growth in the unmanned aerial vehicle industry Increasing demand for air travel Expanding fleets to meet rising travel demands
Pitfalls & Challenges:	Long life of aircraft landing gears Manufacturing challenges

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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.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for aircraft braking system was USD 6.8 billion in 2022 and is anticipated to grow at over 4% CAGR from 2023 to 2032 attributed to the global surge in air travel, driven by rising disposable incomes, urbanization, and the growing middle-class population.

The fixed-wing segment held more than 40% share of the aircraft braking system industry in 2022 and is expected to witness high demand through 2032 owing to the expansion of commercial aviation and the increasing number of passenger aircraft.

North America industry for aircraft braking system accounted for more than 30% revenue share in 2022 and is expected to witness substantial growth up to 2032 owing to the presence of the robust aviation industry including major aircraft manufacturers and airlines & suppliers.

Some of the leading companies engaged in the aircraft braking system industry are Beringer Aero, Collins Aerospace, Crane Co., Honeywell International Inc., Meggitt PLC, Parker-Hannifin Corporation, and Safran.