Aircraft Brake System Market Worth 8.42 Billion USD by 2022
PUNE, India, May 11, 2017 /PRNewswire/ --
The report "Aircraft Brake System Market by Component (Braking Systems (Sensors, Transducers, Actuators, Valves, and Others), Brakes, and Wheels), Fit (Line-Fit and Retrofit), Platform (Commercial and Defense), Region - Global Forecast to 2022", published by MarketsandMarkets™, the aircraft brake system market is projected to grow from USD 6.08 Billion in 2017 to USD 8.42 Billion by 2022, at a CAGR of 6.71% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
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Browse 91 market data tables and 60 figures spread through 168 pages and in-depth TOC on "Aircraft Brake System Market - Global Forecast to 2022"
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Factors such as the increasing fleet size and the growing demand for lightweight aircraft components are anticipated to drive the growth of the aircraft brake system market.
The brakes segment is projected to witness the highest growth during the forecast period
Based on component, the brakes segment of the aircraft brake system market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the high demand for carbon brakes and technological advances in braking systems, such as electric braking systems.
The line-fit segment is estimated to account for the largest share of the aircraft brake system market
Based on fit, the line-fit segment is estimated to account for the largest share of the aircraft brake system market in 2017. Aircraft wheels and brakes suppliers offer the line-fit option, as these components are installed in the aircraft before its delivery, thereby reducing the need to maintain a separate workforce for the installation of such components.
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The commercial platform segment is projected to witness the highest growth during the forecast period
Based on platform, the commercial segment is projected to grow at the highest CAGR during the forecast period. The rise in air passenger traffic worldwide has led to an increase in commercial aircraft orders and deliveries, thereby enhancing the demand for aircraft brake systems.
The aircraft brake system market in Asia-Pacific is projected to witness the highest growth during the forecast period
The aircraft brake system market in the Asia-Pacific region is anticipated to grow at the highest CAGR from 2017 to 2022. This growth is primarily driven by the increase in aircraft orders, owing to the growing demand for air travel in this region.
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Key manufacturers and suppliers of aircraft brake systems include Honeywell International Inc. (U.S.), Meggitt PLC (U.K.), United Technologies Corporation (U.S.), and Safran S.A. (France), among others.
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