Aircraft Braking System Market worth $13.1 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 14, 2021 /PRNewswire/ -- According to the new market research report "Aircraft Braking System Market by Aircraft Type, End Use (OEM, Aftermarket), Actuation (Power Brake, Boosted Brake, Independent Brake), Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), Region - Forecast to 2026", published by MarketsandMarkets™, the market size is projected to grow from USD 10.9 billion in 2021 to USD 13.1 billion by 2026, at a CAGR of 3.6% from 2021 to 2026. The market is driven by various factors, such as rise in demand from OEMs and increasing number of commercial flights.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54120278
The aircraft braking system market includes major players Honeywell International Inc. (US), Meggitt PLC (UK), Safran (France), Crane Co. (US), and Parker-Hannifin Corporation (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected aircraft braking system production and services by 7–10% globally in 2020.
Demand for actuation in braking system will drive the demand for actuators segment
The actuators segment is expected to be the largest market by value. Actuators in braking systems are used to convert the hydraulic fluid pressure into motion. Brake actuators are used to move the piston to apply pressure to the discs together, thus generating friction to stop the aircraft. The majority of brake actuators used on commercial aircraft are hydraulic, although electrically powered electromechanical actuators are also present in the market. Brakes on the Airbus A220 (formerly known as the Bombardier C-series) and the Boeing 787 are actuated electromechanically.
The independent brake segment is projected to witness a higher CAGR during the forecast period
Based on actuation, the independent brake segment is projected to be the highest CAGR rate for the aircraft braking system market during the forecast period. The growth of the independent brake segment of the aircraft braking system market can be attributed to the increasing demand for general aviation and regional aircraft.
The Unmanned Aerial Vehicles segment is projected to witness the highest CAGR during the forecast period
Based on the aircraft type, the unmanned aerial vehicles segment is projected to grow at the highest CAGR rate for the aircraft braking system market during the forecast period. UAVs are commonly termed drones and are mostly known for their wide usage in various military missions such as border surveillance. They are also used for mapping, surveying, and determining weather conditions of a specific area. Certain remotely piloted UAVs are designed to operate as loitering munition for defense forces.
Browse in-depth TOC on "Aircraft Braking System Market"
560 – Tables
42 – Figures
321 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=54120278
The OEM segment is projected to witness the highest CAGR during the forecast period
Based on the end use, the OEM segment is projected to grow at the highest CAGR rate for the aircraft braking system market during the forecast period. OEMs are responsible for the installation of braking system in an aircraft during the assembly stage and are then made available for delivery to aircraft manufacturers. Over the years, there has been a significant rise in the demand for different aircraft types across regions. According to Airbus, it delivered 863 commercial aircraft to 99 customers in 2019.
The North America market is projected to contribute the largest share from 2021 to 2026
North America is projected to be the largest regional share of the aircraft braking system market during the forecast period. The key factor responsible for North America, leading the aircraft braking system market owing to the rapid growth of the technologically advanced braking system in the region. In North America, the rise in aircraft orders and supplies is encouraging manufacturers of aircraft braking system to increase their sales year on year. The increasing demand for commercial aircraft and the presence of some of the leading players operating in the market, such as Crane Co., Parker-Hannifin Corporation, Honeywell International, Inc, are expected to drive the aircraft braking system market in North America. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing aircraft braking system.
Related Reports:
Aircraft Landing Gear Market by Type (Main, Nose), Platform (Fixed Wing, Rotary Wing), Application (Commercial, Business, Military), Aircraft Type (NBA, WBA, VLA, RTA), and Region - Global Forecast to 2021
Aircraft Tires Market by Application (Commercial, & Defense), By Aircraft Type (VLA, NBA, WBA & RTA), by Product Type (Radial & Bias), by End User (OEM, Retreaded, & Replacement), by Platform (Fixed & Rotary Wing), and by Geography - Global Forecast to 2020
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/aircraft-brake-system-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/aircraft-brake-system.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article