DUBLIN, Feb. 21, 2023 /PRNewswire/ — The “Global 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 2027” report has been added to ResearchAndMarkets.com’s offering.
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.
Increasing technological developments are driving demand across all aircraft components. The developments in creating more durable materials are driving developments in creating a more advanced braking system in aircraft. The need for more electrical sub systems is 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 the 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.
Market Dynamics
Drivers
Increasing Operations in Commercial Aircraft Industry
Technological Improvements in Aircraft Braking Components
Restraints
Long Life of Aircraft Landing Gears
Manufacturing Challenges
Opportunities
Emerging Market in Growing Economies
Growth of Unmanned Aerial Vehicles Industry
Challenges
Stringent Regulatory Environment
Companies Mentioned
Aar Corp.
Airframes Alaska
Aviation Products Systems, Inc.
Beringer Aero
Carlyle Johnson
Collins Aerospace
Crane Co.
Electroid
Goldfren
Grove Aircraft Landing Gear Systems Inc.
Honeywell International Inc.
Hong Kong Aircraft Engineering Company
Jamco
Jay-Em Aerospace
Lufthansa Technik AG
Matco Mfg.
Mcfarlane Aviation
Meggitt PLC
Nmg Aerospace
Parker-Hannifin Corporation
Rapco Inc.
Safran
Sonex Aircraft LLC
Sumitomo Precision Products Co. Ltd.
Tactair
For more information about this report visit https://www.researchandmarkets.com/r/ht4j23-aircraft?w=5
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SOURCE Research and Markets
