Global Aircraft Braking System Market Size, Share, Growth Analysis, By Actuation(Independent, boosted and power brake systems), By End user(OEM and aftermarket) - Industry Forecast 2023-2030

Global Aircraft Braking System Market size was valued at USD 6.38 billion in 2021 and is poised to grow from USD 6.6 billion in 2022 to USD 8.69 billion by 2030, at a CAGR of 3.5% during the forecast period (2023-2030).

The market's growth is driven by rising air travel demand and aviation expansion. There's a strong demand for advanced, reliable, and efficient braking systems for safer and more efficient aircraft operations. Airlines and manufacturers are adopting cutting-edge technologies like carbon and electric brakes, spurred by stringent safety regulations and the trend towards lightweight materials and electronic braking systems. Emerging economies are showing significant market growth due to increased air travel and fleet modernization. Major industry players are investing in R&D, collaborations, and partnerships to maintain a competitive edge in this evolving market.

Top-down and bottom-up approaches were used to estimate and validate the size of the global Aircraft Braking System Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Aircraft Braking System Market Segmental Analysis Report

The global aircraft braking system market is segmented on the basis of actuation, end user, and region. Based on actuation, the market can be segmented into Independent, boosted and power brake systems. Based on end user, the market is segmented into OEM and aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Aircraft Braking System Market Dynamics

Drivers

Rising Air Travel Demand

A prominent catalyst propelling the global aircraft braking system market is the escalating need for air travel. The expansion of air travel, notably in emerging economies, is prompting airlines to augment their fleets with technologically advanced aircraft. As the quantity of aircraft in operation grows, so does the demand for effective and dependable aircraft braking systems, offering substantial growth prospects for the market.

Restraints

High Costs Associated with Advanced Braking Technologies

A significant hurdle faced by the global aircraft braking system market is the substantial cost linked to advanced braking technologies. Although these technologies offer enhanced performance and safety, they frequently entail a higher price tag, which can pose challenges for airlines, especially in regions with financial constraints. The cost factor may compel certain airlines to prioritize more economical alternatives or postpone upgrades to their braking systems, potentially impacting overall market growth.

Global Aircraft Braking System Key Market Trends

Increasing Adoption of Lightweight Materials, Especially Carbon Brakes

A pivotal trend characterizing the global aircraft braking system market is the growing utilization of lightweight materials, notably carbon brakes. Carbon brakes offer substantial advantages over conventional steel brakes, including reduced weight, heightened strength, and improved reliability. With airlines and aircraft operators striving to bolster aircraft performance and fuel efficiency, the adoption of carbon brakes has gained substantial momentum. This transition to lightweight materials is driven by the industry's emphasis on sustainability, cost-effectiveness, and compliance with stringent aviation regulations, solidifying it as a noteworthy trend in the aircraft braking system market.