Insights on the Aircraft Braking System Global Market to 2027 - Players Include Collins Aerospace, Crane, Electroid and Goldfren

DUBLIN, Feb. 21, 2023 /PRNewswire/ -- The "Global Aircraft Braking System Market by Aircraft Type, End Use (OEM, Aftermarket), Actuation (Power Brake, Boosted Brake, Independent Brake), Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), Region - Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The Aircraft Braking System Market is projected to grow from USD 6.4 billion in 2022 to USD 7.6 billion by 2027, at a CAGR of 3.3% during the forecast period.

Increasing technological developments are driving demand across all aircraft components. The developments in creating more durable materials are driving developments in creating a more advanced braking system in aircraft. The need for more electrical sub systems is also driving the advancements in actuation systems in aircraft braking system market.

UAV segment to witness largest market growth in the forecast period

By Aircraft Type, UAV segment is expected to grow the highest in the forecast period. Due to increasing border tensions and the need for border surveillance, countries like US, China and other major economies are developing and purchasing UAVs for ISR missions. UAVs are also being used for more civil applications like for fire fighting and surveying of geographies. This increase in demand for UAVs across regions are driving the global aircraft braking system market.

Actuation to witness the highest growth in the forecast period

Based on component, actuation segment is witnessing the highest growth in the forecast period. With the increasing developments in electric aircraft and the need for electromechanical actuation systems developments are being made in the actuation systems for adoption in aviation.

Market Dynamics

Drivers

• Increasing Operations in Commercial Aircraft Industry
• Technological Improvements in Aircraft Braking Components

Restraints

• Long Life of Aircraft Landing Gears
• Manufacturing Challenges

Opportunities

• Emerging Market in Growing Economies
• Growth of Unmanned Aerial Vehicles Industry

Challenges

• Stringent Regulatory Environment

Companies Mentioned

• Aar Corp.
• Airframes Alaska
• Aviation Products Systems, Inc.
• Beringer Aero
• Carlyle Johnson
• Collins Aerospace
• Crane Co.
• Electroid
• Goldfren
• Grove Aircraft Landing Gear Systems Inc.
• Honeywell International Inc.
• Hong Kong Aircraft Engineering Company
• Jamco
• Jay-Em Aerospace
• Lufthansa Technik AG
• Matco Mfg.
• Mcfarlane Aviation
• Meggitt PLC
• Nmg Aerospace
• Parker-Hannifin Corporation
• Rapco Inc.
• Safran
• Sonex Aircraft LLC
• Sumitomo Precision Products Co. Ltd.
• Tactair

For more information about this report visit https://www.researchandmarkets.com/r/ht4j23-aircraft?w=5

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SOURCE Research and Markets