Aircraft Brake Market Trends

Growth Drivers

A Rise in the Traffic of Air Passengers: An increment of air passengers in recent years had led to an increase in the demand for aircraft, and to attain this demand, the aircraft industry is developing aircraft with advanced systems and components which is boosting the growth of the market.
Procurement of Advanced Aircraft to Support Development of Aircraft Brakes: On account of procurement of newer generation aircraft, in the commercial and military sectors coupled with the concept of more electric aircraft, increasing emphasis on the reduction of the weight of aircraft, and development of new lightweight, the market is anticipated to witness growth over the forecast period.

Challenges

Maintenance and Operational Cost of Aircraft Brake System: A major barrier in the market is the operating and maintenance cost faced by different airlines. However, the introduction of new technologies, such as the electric braking system, to overcome maintenance cost is hampering the market for traditional and carbon braking systems, which are relatively less effective. Additionally, long-term contracts with the existing top players is acting as a barrier for the growth of the market.

Aircraft Brakes Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	5.2%
Base Year Market Size (2023)	USD 9.47 billion
Forecast Year Market Size (2036)	USD 18.3 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of aircraft brakes is assessed at USD 9.86 billion.

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.

Asia Pacific industry is poised to account for largest revenue share by 2036, owing to notable growth in the passenger traffic coupled with significant growth in general aviation in the region.

The major players in the market are Honeywell International Inc., UTC Aerospace Systems, Crane Aerospace & Electronics, AAR Corp., Bauer, Inc., Hong Kong Aircraft Engineering Company, Meggitt Aircraft Braking Systems Corporation, Grove Aircraft Landing Gear Systems Inc., Beringer Aero, Parker Hannifin Corporation, and others.

Aircraft Brake Market Trends