Global Aircraft Brake System Market Anticipated to Reach $14.69 Billion by 2028 - Long-term Forecasts to 2033 - ResearchAndMarkets.com

The "Aircraft Brake System Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.

The aircraft brake system market is witnessing a robust growth phase, projected to escalate from $9.64 billion in 2023 to an impressive $10.5 billion in 2024, marking a CAGR of 9.0%. This momentum is expected to carry forward, leading to a significant increase in market value to $14.69 billion by 2028, at a CAGR of 8.8%. The growth is attributed to a range of factors, including the expansion of aircraft fleets, advancements in technology, and increasing passenger air travel.

Spearheading Innovations and Strategic Collaborations

Innovation is at the forefront of this market's evolution, highlighting trends such as the adoption of electro-mechanical braking systems and advanced friction materials. Leading companies are investing in research and development of enhanced brake systems, such as carbon brake systems, recognized for their lighter weight and contribution to reduced fuel consumption. Strategic partnerships and collaborations continue to bolster market development, allowing companies to pool expertise and expand market reach. Noteworthy collaborations include HAECO Group's ongoing engagement with AeroLogic GmbH and Honeywell's decade-long agreement with GKN Aerospace’s Fokker Landing Gear.

Driving Forces Behind the Market Expansion

The aircraft brake system market is heavily influenced by a surge in both commercial and defense aircraft fleets, where new installations and replacements in existing fleets propel the demand for advanced braking systems. The commercial fleet is anticipated to exceed 49,000 airplanes by 2040. Concurrently, a rise in passenger air traffic, which witnessed a 152.7% increase in international passenger traffic in 2022 as per IATA, further underscores the intensifying need for reliable and efficient aircraft braking systems across the globe.

Geographical Dominance and Forecast

North America currently holds the lead as the largest region in the aircraft brake system market as of 2023 and is poised to become the fastest-growing region throughout the forecast period. The market report covers diverse geographies, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, offering detailed insights into the market dynamics and growth opportunities in these regions. The rise in the global aircraft brake system market showcases the critical role of braking systems in the aviation sector and underscores ongoing investments in innovation, reflecting a commitment to safety, efficiency, and the future of sustainable travel.

A selection of companies mentioned in this report includes, but is not limited to:

• Honeywell International Inc.
• Safran Landing Systems
• Raytheon Technologies Corporation
• Parker-Hannifin Corporation
• Crane Aerospace & Electronics.
• Beringer Aero a subsidiary of Beringer SAS
• MATCO Manufacturing Inc.
• Grove Aircraft Landing Gear Systems Inc.
• Jay-Em Aerospace & Machine Inc.
• Bauer Inc.
• Nasco Aircraft Brake Inc.
• AAR Corp.
• Lufthansa Technik AG
• UTC Aerospace Systems
• Dunlop Aircraft Tyres Ltd.
• Goodyear Aviation.
• Michelin Aircraft Tire Company LLC.
• Aircraft Braking Systems Corporation.
• Carlisle Companies Incorporated
• Rapco Fleet Support Inc.
• SGL Carbon SE
• Wilwood Engineering Inc.
• Brembo S.p.A.
• Hindustan Aeronautics Limited
• Magellan Aerospace Corporation
• Meggitt Aircraft Braking Systems Corporation

For more information about this report visit https://www.researchandmarkets.com/r/6h4m2p

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