Aircraft Brake System Market is projected to reach USD 8.42 billion by 2022

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Jun 06, 2017, 12:46 ET

LONDON, June 6, 2017 /PRNewswire/ -- Highlights

· Increasing fleet size is expected to be one of the most significant factors driving the growth of the aircraft brake system market

· The aircraft brake system market is projected to reach USD 8.42 billion by 2022, at a CAGR of 6.71% from 2017 to 2022.

· Aircraft brake systems are essential aircraft components that ensure the safety of an aircraft during ground operations, such as landing, takeoff, and taxiing.

· The increase in aircraft production is anticipated to drive the growth of the aircraft brake system market.

· The line-fit segment is estimated to account for the largest share of the aircraft brake system market

· The commercial platform segment is projected to grow at the highest CAGR during the forecast period

· Based on platform, the commercial segment is projected to grow at the highest CAGR from 2017 to 2022.

· The rise in passenger movement has led to an increase in aircraft orders across the globe, which, in turn, is anticipated to drive the growth of the aircraft brake system market.

· North America is estimated to be the largest market for aircraft brake systems in 2017

"Increasing fleet size is expected to be one of the most significant factors driving the growth of the aircraft brake system market"
The aircraft brake system market is projected to reach USD 8.42 billion by 2022, at a CAGR of 6.71% from 2017 to 2022. Aircraft brake systems are essential aircraft components that ensure the safety of an aircraft during ground operations, such as landing, takeoff, and taxiing. The increase in aircraft production is anticipated to drive the growth of the aircraft brake system market. Furthermore, the increasing demand for lightweight and efficient aircraft components from the aviation industry is another significant factor driving the growth of the aircraft brake system market.

"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. Line-fit has become an important alternative for aircraft buyers, as post-delivery retrofit modification becomes cumbersome for airlines. Major aircraft manufacturers are increasingly replacing steel brakes with carbon brakes. The use of carbon brakes offers significant benefits such as lightweight parts and less maintenance, in addition to faster cooldown and shorter turnaround times.

"The commercial platform segment is projected to grow at the highest CAGR during the forecast period"
Based on platform, the commercial segment is projected to grow at the highest CAGR from 2017 to 2022. The rise in passenger movement has led to an increase in aircraft orders across the globe, which, in turn, is anticipated to drive the growth of the aircraft brake system market. In addition, the expansion of the aviation industry in Asia-Pacific and the Middle East has propelled the demand for new commercial aircraft, thereby contributing to the growth of the commercial segment of the aircraft brake system market.

"North America is estimated to be the largest market for aircraft brake systems in 2017"
North America is the largest market for aircraft brake systems, owing to the presence of prominent players of wheels and brakes, such as Honeywell International Inc. (U.S.), UTC Aerospace Systems (U.S.), and Parker Hannifin Corporation (U.S.) in this region. Airlines in North America are planning to implement electrically actuated carbon brakes in the near future to propel the development of lightweight aircraft.

Key manufacturers and suppliers of aircraft brake systems in North America include UTC Aerospace Systems (U.S.), Honeywell International Inc. (U.S.), and Crane Aerospace & Electronics (U.S.), among others.

Break-up of profile of primary participants in the aircraft brake system market:

• By Company Type - Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation – C Level – 35%, Director Level – 25%, and Others – 40%
• By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, and RoW – 5%

Major companies profiled in the report include Safran S.A. (France), UTC Aerospace Systems (U.S.), Meggitt PLC (U.K.), Honeywell International Inc. (U.S.), Crane Aerospace & Electronics (U.S.), AAR Corp. (U.S.), Parker Hannifin Corporation (U.S.), Lufthansa Technik AG (Germany), Hong Kong Aircraft Engineering Company (Hong Kong), Bauer, Inc. (Netherlands), Beringer Aero (France), and Grove Aircraft Landing Gear Systems Inc. (U.S.).

Research Coverage:
This research report categorizes the aircraft brake system market on the basis of component, fit, platform, and region. Based on component, the aircraft brake system market has been classified into wheels, brakes, and braking systems. On the basis of platform, the market has been segmented into commercial and defense. Based on fit, the market has been categorized into line-fit and retrofit. With respect to region, the aircraft brake system market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends); market share analysis of top players; company profiles; emerging and high-growth segments of the market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on aircraft brake systems offered by top players in the market

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aircraft brake system market

• Market Development: Comprehensive information about lucrative markets – the report analyzes the market for aircraft brake systems across various regions

• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in aircraft brake system market

• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the aircraft brake system market
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