Aircraft Brakes Market: Industry Insights, Major Key Players and Current Trends Analysis and Forecast: 2022-2031

Japan, Japan, Wed, 06 Apr 2022 07:35:48 / Comserve Inc. / -- The aircraft brakes market is anticipated to register a CAGR of above 5%, during the forecast period.

The aircraft brakes market is anticipated to register a CAGR of above 5%, during the forecast period.

- The procurement of newer generation aircraft, in the commercial and military sectors, is one of the major reasons for the development of the aircraft brakes market.
- With increasing emphasis on the reduction of the weight of aircraft, and with the concept of more electric aircraft, new lightweight brakes are being developed (like electric brakes). This is expected to support the growth of the market, in the coming years.
- The long-term contracts with the existing top players in the market are expected to act as a barrier for new players to enter the market.

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Key Market Trends

Commercial Segment to Experience the Highest Growth During the Forecast Period

The commercial segment of the market currently has the highest share, and is expected to register the highest CAGR during the forecast period. This is mainly due to an increase in aircraft orders and deliveries, to cater to the growing passenger traffic around the world. Currently, carbon brakes are very much popular in the aviation industry, with most of the narrow-body, wide-body, and regional jets using them due to their light weight, as compared to steel brakes, and more mean time between repairs (MTBR). However, in the recent years, the commercial aviation sector has been moving toward more electric architecture, with the main aim of reducing weight and lowering fuel costs. This shift is supporting the adoption of the new electric brakes technology, that comes with low weight and improved performance, as well as ease of maintenance. The airlines tend to use electric brakes, as they help in cutting down the fuel and maintenance costs. This trend in the commercial aircraft technology will be a major factor in supporting the growth of this segment, during the forecast period.

Asia-Pacific Region to Experience the Highest Growth During the Forecast Period

The Asia-Pacific region is anticipated to have the highest growth, during the forecast period. There has been a significant growth in the passenger traffic in and out of this region. In order to cater to the growing demand, the airlines operating in this region are investing in the procurement of newer generation aircraft. Also, there has been a significant growth in general aviation, in this region. The poor connectivity between the smaller cities is the major reason for companies and individuals to realize the benefits of using private jets and helicopters. In addition to the procurements and orders, the region is involved in the development of new aircraft, like Advanced Medium Combat Aircraft (AMCA) program for India, KF-X for Korea and Indonesia, Mitsubishi Regional Jet (MRJ) for Japan, and COMAC C919 for China. Development of such advanced aircraft will require newer types of brake, which will improve performance. The ongoing procurements of aircraft, along with the increasing manufacturing capabilities, will boost the growth of the region during the forecast period.

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Competitive Landscape

The prominent players in the aircraft brakes market are Collins Aerospace (United Technologies Corporation), Safran SA, Crane Aerospace & Electronics, Meggit plc, and Parker Hannifin Corporation. These are firms that supply brakes and braking systems to most of the aircraft in the military, commercial, and general aviation sectors. With high brand values and long-term contracts with the aircraft OEMs, these prominent players dominate the market, making it difficult for new players to capitalize in this landscape. Also, the investments by the companies in electric brake technology, which is currently in its initial stage, are expected to help them in maintaining prominent positions, during the transition from carbon brakes to electric brakes, in the near future.

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