NEW YORK, Dec. 21, 2022 /PRNewswire/ — The Aircraft Braking system Market is projected to grow from USD 6.4 billion in 2022 to USD 7.6 billion by 2027, at a CAGR of 3.3% during the forecast period.
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Increasing technological developments are driving demand across all aircraft components.The developments in creating more durable materials are driving developments in creating more advanced braking system in aircraft.
The need for more electrical sub systems are also driving the advancements in actuation systems in aircraft braking system market.
UAV segment to witness largest market growth in the forecast period
By Aircraft Type, UAV segment is expected to grow the highest in the forecast period.Due to increasing border tensions and the need for border surveillance, countries like US, China and other major economies are developing and purchasing UAVs for ISR missions.
UAVs are also being used for more civil applications like for fire fighting and surveying of geographies. This increase in demand for UAVs across regions are driving the global aircraft braking system market.
Actuation to witness highest growth in the forecast period.
Based on component, actuation segment is witnessing the highest growth in the forecast period. With the increasing developments in electric aircraft and the need for electromechanical actuation systems developments are being made in the actuation systems for adoption in aviation.
Break-up of profile of primary participants in the aircraft braking system market:
• By Company Type: Tier 1 — 20%, Tier 2 — 55%, and Tier 3 — 25%
• By Designation: C Level — 50%, Director Level — 25%, and Others — 25%
• By Region: North America — 60%, Europe — 20%, Asia Pacific — 10%, South America— 5%, and RoW — 5%
Major players operating in the aircraft braking system market include Safran (France), Collins Aerospace (US), Parker-Hannifin Corporation (US), Crane Co. (US), and Honeywell International Inc. (US) among others. These key players offer aircraft braking system and services to different key stakeholders.
Research Coverage:
This research report categorizes the aircraft braking system market on the basis of Aircraft Braking system Market Aircraft Type, End Use (OEM, Aftermarket), Actuation (Power Brake, Boosted Brake, Independent Brake), Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), and Region.These segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the aircraft braking system market.A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the aircraft braking system market.
In addition, the startups in aircraft braking system market ecosystem are covered in this report to provide usable insights and developments happening in the emerging market of aircraft braking system.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft braking system market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on aircraft braking system market offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches, contracts, agreements, and expansion plans in the aircraft braking system market.
• Market Development: Comprehensive information about lucrative markets — the report analyzes the aircraft braking system market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aircraft braking system market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the aircraft braking system market.
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