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The aircraft braking systems market is estimated to grow at a CAGR of 7% between 2022 and 2027. The size of the market is forecast to increase by USD 1,551.82 million. The growth of the market depends on several factors, including growing demand for commercial and general aircraft, an increase in aircraft deliveries, and the adoption of smart sensor technologies.
This report extensively covers market segmentation by application (commercial aviation, military aviation, and general aviation), component (power brake, independent brake, and boosted brake), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The adoption of smart sensor technologies is notably driving the market growth, although factors such as the high production cost may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Aircraft Braking Systems Market Driver
The adoption of smart sensor technologies is notably driving market growth. Aircraft tires and brakes experience tremendous impact during landing and taxiing. Maintaining optimum tire pressure can help prevent accidents caused by blowouts. Keeping tires at their recommended pressure can help airlines save money by increasing fuel efficiency and decreasing hangar downtime. Similarly, an unanticipated increase in brake temperature can lead to brake malfunction. Therefore, it is crucial to continuously test the temperature and pressure of the tires and brakes after each trip.
The integrated Tire and Brake Monitoring System (TBMS), developed by Crane Aerospace and Electronics, combines the function of a tire pressure monitoring unit and a brake temperature monitoring unit (BTMU). It eliminates an avionic unit and saves the added weight associated with the system. The BTMU calculates and corrects the tire pressure/temperature and provides results without any delay. This feature was absent in earlier systems, which required waiting for the tires to cool down to take an accurate measurement. Therefore, such factors will boost the growth of the aircraft brake system market during the forecast period.
Significant Aircraft Braking Systems Market Trend
The development of electric brake systems is an emerging trend in the market. Due to its potential effectiveness, the idea of electric aircraft has become increasingly popular in recent years. Numerous aircraft firms (including OEMs and tier 1 firms) have shown off their plans that incorporate the replacement of various conventional technologies with electrical systems.
The use of electric technology can replace the conventional hydraulic lines that were imperative in traditional brakes, thereby making the installation and maintenance much easier. Additionally, electric brakes can ensure real-time data feed using its smart sensor technologies that can help pilots in measuring carbon disk wear. Moreover, from an environmental perspective, the production and use of electric brakes are environmentally friendly, as they do not feature potential toxic chemicals such as cadmium, chromium, beryllium, and asbestos. The use of an advanced electromechanical braking system can also ensure improvement in dispatch reliability and overall durability as well. Therefore, such development in the braking system will fuel the growth of the aircraft brake system market during the forecast period.
Major Aircraft Braking Systems Market Challenge
The high production cost is a major challenge impeding the market growth. A new airplane braking system or brake system technology involves a lot of R&D, which is expensive. The cost of an aircraft braking system is directly proportional to associated development and production costs. So, before rolling out an engine, extensive testing and documentation are done in order to guarantee the expected results of such time and financial investment.
However, rigorous testing does not ensure the proper working of the braking system once implemented in aircraft, which leads to numerous challenges. Such incidents cause the manufacturer to invest in redesigning the engine components and replacing the already-equipped braking system in aircraft. They also cause delays in braking system deliveries leading to an overall shortfall in demand and supply and, subsequently, garner losses to players in the supply chain. Therefore, such factors will have a negative impact on the growth of the aircraft brake system market during the forecast period.
Key Aircraft Braking Systems Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aircraft Braking Systems Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BERINGER AERO - The company is involved in the manufacturing of wheel, brake, and landing gear kits for many devices. The key offerings of the company include aircraft braking systems.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the commercial aviation segment will be significant during the forecast period. Commercial aircraft, also known as civil aircraft, transport passengers and commercial cargo. Commercial aircraft are classified into narrow-body, wide-body, and regional aircraft. The rapid growth of the commercial aviation industry can be attributed to the increasing preference of consumers for air travel.
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The commercial aviation segment was valued at USD 2,142.17 million in 2017 and continued to grow until 2021. The demand for commercial aircraft has been cyclical in nature for the past decade as it is highly associated with corporate profits, populations of high-net-worth individuals, and GDP growth. With the gradual recovery in demand for technologically advanced and long-range business aircraft, braking systems and aircraft OEMs are likely to invest in new-generation braking systems and their associated components during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is supported by highly evolved aviation infrastructure and a large, affluent middle-class population. The region is home to technologically advanced countries and mature markets such as the US and Canada, which have developed advanced aircraft braking systems with features such as anti-skid braking, electric brakes, and carbon brakes. A rapid rise in the global demand for new aircraft has increased the need for investments in airframe parts as well as the component manufacturing sector. Large funds are being channelized for the development of advanced materials and related technologies in North America. Moreover, extreme winters in the US have necessitated the development of aircraft braking systems that prevent skidding on runways.
The COVID-19 pandemic in 2020 hindered the growth of the regional market. However, mass vaccination drives and ease in lockdown restrictions helped the regional market recover in 2021. Also, growth in the regional economy and the announcement of fiscal stimulus packages by governments across the region further helped the market grow in 2022. Growing demand for advanced aircraft and an increase in aircraft deliveries will further drive the growth of the regional aircraft braking system market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global aircraft braking systems market as a part of the global aerospace and defense market within the global capital goods market. The global aerospace and defense market covers products and companies engaged in the production of aerial platforms used under commercial and general aviation, defense platforms used under naval, land, and air domains; arms and ammunition, defense electronics, defense logistics equipment, and space platforms, equipment, and launch vehicles. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Aircraft Braking Systems Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
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Market growth 2023-2027 |
USD 1,551.82 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.76 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 33% |
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Key countries |
US, China, France, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Advent Aircraft Systems Inc., Aviation Products Systems Inc., BERINGER AERO, Crane Co., GOLDfren USA, Grove Aircraft Landing Gear Systems Inc., Honeywell International Inc., Jay Em Aerospace Inc., Matco Aircraft Landing Systems, McFarlane Aviation Inc., Meggitt Plc, Moog Inc., NMG Aerospace, Parker Hannifin Corp., RAPCO Inc., Raytheon Technologies Corp., Safran SA, Sonex LLC, Tactair Fluid Controls Inc., and The Carlyle Johnson Machine Co. LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Historic Market Size
6 Five Forces Analysis
7 Market Segmentation by Application
8 Market Segmentation by Component
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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