Aircraft Braking System Market
The Aircraft Braking System Market is estimated to grow at a robust CAGR over the forecast period (2021-2028).
The factors driving the growth of Aircraft Braking System Market includes rise in the air passenger traffic around the world, increase in the number of MRO service providers, growing demand for actuators in the braking systems. According to the report published by Directorate General of Civil Aviation (DGCA), the number of people boarding domestic flights in India has risen from 6.3 crore in 2020 to 8.38 crore people, showing an increase of 33%, which will boost the Aircraft Braking System Market size in the approaching years. Moreover, technological advancements in the aircraft braking systems, growing popularity of unmanned ariel vehicles, Government regulations regarding the installation of braking systems in Aircrafts and rapid urbanization, are some of the additional factors supplementing the market growth. As per Bloomberg, the Global Unmanned Aerial Vehicle (UAV) Market was calculated around USD 23.60 billion in 2021 and is anticipated to reach USD 77.69 billion by the end of 2030, growing at a CAGR of 14.6% over the forecast period, which will accelerate the market growth in the coming years.
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However, the growth of Aircraft Braking System Market strict regulations imposed by regulatory authority regarding passenger safety.
The prominent players operating in the Aircraft Braking System Market includes Lufthansa Technik, Meggitt PLC, Parker Hannifin Corp, Crane Co., The Carlyle Johnson Machine Company, LLC, Collins Aerospace, Safran, AAR Corp., Nasco Aircraft Brake, Inc. and Honeywell International Inc., Crane Co., among others.
Aircraft Type: Segment Analysis
Based on Type, the Unmanned Aerial Vehicles segment is emerged as the fastest growing segment during the forecast period because ethe unmanned ariel vehicles are increasingly used by defense forces for border surveillance and mapping.
Platform: Segment Analysis
Based on Platform, the Commercial segment is projected to grow at a significant CAGR over the forecast period attributed to rise in the air passenger traffic across the globe and increase in the manufacturing of commercial aircraft.
Regional: Segment Analysis
Based on Region, the North American region is anticipated to capture a sizeable market share during the forecast period. Presence of the leading players such as Honeywell International Inc., Crane Co. and The Carlyle Johnson Machine Company, LLC, growing demand for commercial aircraft, emerging need to replace the ageing aircrafts and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Market Segmentation
Segmentation by Aircraft Type
· Fixed Wing
· Rotary Wing
· Unmanned Aerial Vehicles
Segmentation by Actuation
· Power Brake
· Boosted Brake
· Independent Brake
Segmentation by Component
· Wheels
· Brake Discs
· Brake Housing
· Valves
· Actuators
· Accumulators
· Electronics
Segmentation by Platform
· Commercial
· Defense
Segmentation by Region
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
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