Aircraft Brake Market Size

Aircraft Brakes Market size was valued at USD 9.47 billion in 2023 and is expected to reach USD 18.3 billion by 2036, expanding at around 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aircraft brakes is assessed at USD 9.86 billion.

The increasing fleet size of commercial and defense aircraft is a major driver supporting the growth of the market. The aircraft industry is attending an enormous increase in the number of aircraft on account of increased passenger movement across the globe which is boosting the market and is anticipated to support the development of the market over the forecast period. The demand for technological improvements in the prevailing aircraft brakes system has boosted the growth of the electrical braking system market. Moreover, factors such as the development of lightweight brake materials, demand for lightweight aircraft, and increased military spending are expected to fuel the global market during the forecast period. On the contrary, brakes are required to work in extreme environments, which leads to degradation of the quality of brake material through corrosion and creates opportunities for the aftermarket industry.