What is the Global Aircraft Braking System Market size?
The global aircraft brake system market is predicted to reach USD XX Billion by 2025 from its market value of USD XX Billion in 2017 at a growing CAGR of XX during the forecast period. Aircraft brake system comprises of essential flight components that play a vital role during the take-off, landing and ground taxiing. Apart from the slowing down and stopping features of these aircraft brakes, they are also used to control the additional motions during the run-up of the engines.
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These braking systems are used in all civil and military aircraft and can enable the steering of the flight on the ground using differential mechanism. The main wheels of the aircraft and rotor of the helicopters are the targeted areas for deploying these brakes systems. The recent advances in the aircraft industry have transformed the wiring and mechanical connections in the traditional aircraft to hydraulic pumps and master cylinders.
What are the factors supporting the growth of the Global Aircraft Braking System Market?
The primary factor supporting the growth of the aircraft braking system is the increasing fleet size of civil and defence aircraft. Additionally, the growing demand for light-weight and efficient aircraft components, increasing number of population that uses air travel, rising disposable income of the population, expanding tourism industry of the world, advancements in the technology, government and military spending on the aircraft and other factors are accelerating the global aircraft braking system market. The line-fit and commercial platform are the anticipated segments of the aircraft brake system market to witness an increasing growth in the following years.
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Based on the regional analysis, North America accounts for the largest portion of share in the global aircraft brake system market owing to the large number of airports in the region, rapid adoption of technologies and increasing flight travel. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period attributing to the increasing tourism industry, government spending and growing orders for aircraft.
Key Players in the Market:
The prominent producers and suppliers of the aircraft braking system market are Honeywell International Inc. (U.S.), Nasco Aircraft Brake, Inc., Crane Aerospace & Electronics, AAR, Beringer-aero, MATCO mfg, Lufthansa Technik, Grove Aircraft Landing Gear Systems Inc., Meggitt PLC (U.K.), United Technologies Corporation (U.S.), and Safran S.A. (France).
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