Aircraft Brake System Market 2022: Explore Top Factors that Will Boost the Market by 2030

The global aircraft brake systems market was US$ 10.50 billion in 2020. The global aircraft brake system market is forecast to grow at a compound annual growth rate (CAGR) of 5% during the forecast period from 2021-2030, and the market anticipates reaching US$ 16.93 billion by 2030.

An aircraft brake system slows or stops the aircraft's motion. There are hydraulic and pneumatic brakes on aircraft. There are a variety of aircraft brake systems, including single disc, dual disc, multiple disc, and rotor-disc brakes.

The brakes of an aircraft can withstand various bad conditions, preventing the plane from accidentally speeding up. Introducing aircraft brake systems requires extensive engineering and computation. In most cases, aircraft brake systems adhere to fixed standards.

Factors Influencing the Market Growth
As air passenger traffic increases, the global aircraft brake system market is forecast to grow significantly. Globally, the ICAO (International Civil Aviation Organization) indicates that 4,38 billion commuters flew by scheduled flights in 2019, which represents a 3.65% increase over the previous year.

There will be an increase in demand for new aircraft, affecting sales of aircraft brake systems. Due to this, the aircraft brake system market anticipates growing during the forecast period.

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In the past, there were few players providing maintenance and overhaul services to commercial aircraft globally. In spite of this, more players from emerging and growing economies are entering the market due to the increase in demand for commercial aircraft. Players in the aircraft braking system industry can take advantage of this opportunity in the forecast period.

Aerospace companies adhere to strict policies when it comes to passenger and aircraft safety. It may be a factor in the slowdown of market growth.

Impact Analysis of COVID-19
COVID has unpredictable effects on the market for aircraft brake systems and is forecast to remain in force through 2021.

A COVID-19 outbreak caused governments to implement strict lockdown measures, resulting in flight cancellations and a ban on e-commerce services, which led to an overall decline in commercial aviation and logistics.

The lockdowns also disrupted the supply chain, as several manufacturing facilities globally were forced to shut down part of or all of their operations.

Due to the adverse effects of the COVID-19 pandemic, there were supply-demand issues and long delays in aircraft brake system operations worldwide.

All these factors have hindered market growth.

Regional Insight

As passenger movement and investment in defense infrastructures increase in developing countries such as the UAE, China, and India, the global aircraft brake system market in the Asia Pacific is expected to surge at the highest CAGR.

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Leading Competitors
The leading prominent companies profiled in the global aircraft brake system market are:
AAR Corp.
Beringer Aero
Collins Aerospace
Crane Co.
Honeywell International Inc.
Lufthansa Technik AG
Meggitt PLC
Parker-Hannifin Corporation
Safran
The Carlyle Johnson Machine Company
Other Prominent Players

Market Segmentation
The global aircraft brake system market segmentation focuses on Aircraft Type, End-Use, Actuation, Component, and Region.

Segmentation based on Aircraft Type
Rotary Wing
Fixed Wing
Unmanned Aerial Vehicles

Segmentation based on End-Use
Aftermarket
OEM

Segmentation based on Actuation
Independent Brake
Power Brake
Boosted Brake

Segmentation based on Component
Wheels
Brake Discs
Brake Housing
Valves
Actuators
Accumulator
Electronics

Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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