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Aircraft Brake System Market Expected to Reach $16.95 Billion by 2030-Allied Market Research

 

Report Code : A06199

quote Increase in air passenger traffic across the globe and increase in operations in the commercial aviation are expected to drive the aircraft brake system market during the forecast period. However, stringent regulatory environment toward safety is one of the major factors that is anticipated to hamper the growth of the market. Conversely, implementation of advanced technology is expected to offer lucrative opportunities for the market in future. quote

Himanshu Joshi
Lead Analyst, Aerospace and Defense at Allied Market Research

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According to a recent report published by Allied Market Research, titled, “Aircraft Brake System Market by Aircraft Type, Actuation, and Distribution: global opportunity analysis and industry forecast, 2021–2030,” the global aircraft brake system market was valued at $10.52 billion in 2020, and is projected to reach $16.95 billion by 2030, registering a CAGR of 5.2%.

Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. U.S. dominated the global aircraft brake system market in North America in 2020, owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making durable and long-lasting aircraft brake systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in air passenger traffic across different nations in the region along with implementation of stringent aircraft safety regulations and inspections across the prominent countries such as China, India, and Japan.

By aircraft type, the aircraft brake system market is segregated into fixed wing and rotary wing. The fixed wing segment accounted for the highest revenue in 2020, owing to presence of a large air fleet of fixed wing aircraft globally and technological advancements for fixed wing aircraft brake systems.

On the basis of actuation, the market is divided into power brake, boosted brake, and independent brake. The power brake segment garnered highest revenue in 2020, owing to high demand for aircraft power brake systems across the world.

By distribution, the aircraft brake system market is segregated into OEM and replacement. The replacement segment accounted for the highest revenue in 2020, owing to surge in demand for replacement type aircraft brake systems, as they offer an economical solution to expensive brake systems and are available across the world.

COVID-19 impact analysis

  • The COVID impact on the aircraft brake system market is unpredictable and it is expected to remain in force till the second quarter of the 2021.
  • The COVID-19 outbreak forced the governments to impose strict lockdown measures that resulted in flight cancellations and ban on e-commerce services, which led to massive decline in commercial aviation and logistics activities across the world.
  • Moreover, the lockdowns disrupted the supply-chain as several manufacturing facilities across the globe had to partially or fully shut down their operations.
  • The adverse impacts of the COVID-19 pandemic resulted in huge supply-demand issues and resulted in long delays in the activities of aircraft brake system operations globally.

Key Findings Of The Study

  • By aircraft type, the fixed wing segment is expected to register a significant growth during the forecast period.
  • On the basis of actuation, the power brake segment is anticipated to exhibit significant growth in future.
  • Depending on distribution, the OEM segment is projected to lead the global aircraft brake system market.
  • Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

The key players operating in the global aircraft brake system market include AAR Corp., Beringer Aero, Collins Aerospace, Crane Co., Honeywell International Inc., Lufthansa Technik AG, Meggitt PLC, Parker-Hannifin Corporation, Safran, and the Carlyle Johnson Machine Company

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quote Aircraft Brake System Market by Aircraft Type (Fixed Wing and Rotary Wing), Actuation (Power Brake, Boosted Brake, and Independent Brake), and Distribution (OEM and Replacement): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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