Aircraft Braking System Market Overview
The Aircraft Braking System Market Size was estimated at 10.22 (USD Billion) in 2022. The Aircraft Braking System Market Industry is expected to grow from 10.58(USD Billion) in 2023 to 14.5 (USD Billion) by 2032. The Aircraft Braking System Market CAGR (growth rate) is expected to be around 3.56% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Aircraft Braking System Market Trends Highlighted
The increasing demand for enhanced safety and efficiency in aircraft operations is a key driver of the aircraft braking system market. Governments and regulatory bodies are focusing on stringent aircraft performance standards, leading to advancements in braking systems. The rising popularity of composite materials and lightweight components contributes to improved braking performance and reduced aircraft weight, driving market growth.
Opportunities exist in the development of innovative technologies such as electro-mechanical and electro-hydraulic braking systems. These systems offer advantages in terms of weight reduction, reliability, and reduced maintenance costs. Additionally, the growing emphasis on sustainability is fueling the demand for environmentally friendly braking materials and systems.Recent trends include the adoption of active braking systems that provide real-time data on braking performance and the increasing use of predictive maintenance to optimize system efficiency and reduce downtime. Furthermore, advancements in tire technology and the integration of anti-lock braking systems (ABS) enhance aircraft braking capabilities and safety.
Aircraft Braking System Market Drivers
Increasing Demand for Air Travel
The increasing demand for air travel is a major driver of the growth of the Aircraft Braking System Market Industry. As the number of people traveling by air increases, so does the demand for aircraft. This, in turn, drives the demand for aircraft braking systems, as they are an essential component of aircraft safety. The increasing demand for air travel is expected to continue in the coming years as more and more people choose to travel by air for both business and leisure purposes. This is expected to drive the growth of the Aircraft Braking System Market Industry in the coming years.
Technological Advancements
Technological advancements are another major driver of the growth of the Aircraft Braking System Market Industry. The development of new and improved braking systems is constantly taking place, and these advancements are making aircraft braking systems more efficient and reliable. For example, the development of carbon brakes has significantly improved the performance of aircraft braking systems. Carbon brakes are lighter and more durable than traditional steel brakes, and they provide better stopping power.The development of new technologies is expected to continue in the coming years, and this is expected to drive the growth of the Aircraft Braking System Market Industry.
Government Regulations
Government regulations are also a major driver of the growth of the Aircraft Braking System Market Industry. Governments around the world are increasingly implementing regulations to improve the safety of aircraft. These regulations often require aircraft to be equipped with the latest and most advanced braking systems. This is expected to drive the demand for aircraft braking systems in the coming years, as aircraft manufacturers seek to comply with these regulations.
Aircraft Braking System Market Segment Insights
Aircraft Braking System Market Aircraft Type Insights
The Aircraft Braking System Market segmentation by Aircraft Type comprises Commercial Aircraft, Business Jets, Regional Aircraft, and Military Aircraft. In 2023, the Commercial Aircraft segment dominated the Aircraft Braking System Market revenue, with a market share of around 65%. The dominance of Commercial Aircraft can be attributed to the increasing number of commercial aircraft deliveries, growing air passenger traffic, and stringent safety regulations. The Business Jets segment is expected to witness a significant growth rate during the forecast period, owing to the rising demand for private air travel, expansion of high-net-worth individuals, and growing corporate travel.The Regional Aircraft segment is also projected to grow steadily, driven by the increasing demand for regional connectivity and the replacement of aging aircraft fleets. The Military Aircraft segment is expected to have a moderate growth rate, influenced by military modernization programs, technological advancements, and geopolitical tensions. The demand for advanced braking systems in military aircraft is increasing due to the need for enhanced safety, performance, and reliability in demanding operational environments.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Aircraft Braking System Market System Type Insights
The Aircraft Braking System Market is segmented by System Type into Anti-Skid Braking Systems, Auto-Braking Systems, Electric Braking Systems, and Hydraulic Braking Systems. Among these, the Hydraulic Braking Systems segment held the largest market share in 2023, accounting for over 55% of the Aircraft Braking System Market revenue. The growth of this segment is attributed to the increasing demand for enhanced safety and reliability in aircraft braking systems. Hydraulic Braking Systems provide precise control and high braking power, making them suitable for various aircraft types.The Anti-Skid Braking Systems segment is expected to witness significant growth over the forecast period, owing to the rising adoption of advanced braking technologies in the aviation industry. Anti-Skid Braking Systems prevent wheel lock-up during braking, improving aircraft stability and reducing skidding on wet or icy runways. The growing demand for improved aircraft safety and performance is driving the growth of this segment. Auto-Braking Systems and Electric Braking Systems are gaining traction in the market due to their advantages in terms of reduced maintenance costs and improved braking efficiency.Auto-Braking Systems automate the braking process, reducing pilot workload and improving braking accuracy. Electric Braking Systems offer weight reduction and lower operating costs compared to traditional hydraulic systems. As a result, these segments are expected to contribute to the overall growth of the Aircraft Braking System Market in the coming years.
Aircraft Braking System Market Technology Insights
The technology segment of the Aircraft Braking System Market is primarily divided into friction brakes, carbon brakes, and electromagnetic brakes. Friction brakes are the most widely used type of aircraft brakes, owing to their effectiveness and cost-efficiency. However, carbon brakes offer superior performance in terms of weight reduction, heat dissipation, and durability, making them a preferred choice for high-performance aircraft. Electromagnetic brakes are gaining traction due to their ability to provide precise and controlled braking, along with their compact design.
The Aircraft Braking System Market data suggests that the carbon brakes segment is expected to grow at a CAGR of 4.2% during the forecast period, reaching a value of USD 3.98 billion by 2032. Electromagnetic brakes, though a niche segment, are projected to witness a significant growth rate of 5.6% over the same period, driven by rising demand for advanced braking systems.
Aircraft Braking System Market Application Insights
The Aircraft Braking System Market is segmented based on application into landing, taxiing, and roll out. Among these, the landing segment held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing demand for aircraft with enhanced braking capabilities to ensure safe and efficient landings. The taxiing segment is also expected to witness significant growth during the forecast period due to the increasing number of aircraft operations and the need for effective braking systems to reduce wear and tear on tires and brakes.
The roll-out segment is expected to have a moderate growth rate as it is primarily dependent on the production and delivery of new aircraft. Overall, the Aircraft Braking System Market is expected to experience steady growth in the coming years, driven by the increasing demand for aircraft and the need for safe and efficient braking systems.
Aircraft Braking System Market Regional Insights
The Aircraft Braking System Market across North America, Europe, APAC, South America and MEA exhibits diverse growth trends influenced by region-specific factors. North America and Europe hold significant market shares due to the presence of leading aircraft manufacturers and airlines. The APAC region is projected to grow rapidly, driven by the increasing demand for air travel and aircraft production in emerging economies like China and India. South America and MEA are expected to witness steady growth, fueled by infrastructure development and government initiatives promoting aviation. These regional insights provide valuable information for businesses operating in the Aircraft Braking System Market to tailor their strategies and capitalize on growth opportunities.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Aircraft Braking System Market Key Players And Competitive Insights
Major players in the Aircraft Braking System Market, such as Honeywell International Inc. (US), Safran S.A. (France), Meggitt Plc (UK), Collins Aerospace (US), and Moog Inc. (US), have been focusing on technological advancements and strategic partnerships to maintain their competitive edge. The industry has witnessed a trend toward the development of advanced braking systems that meet the demands of next-generation aircraft and enhance safety and efficiency. Leading Aircraft Braking System Market players are investing in research and development to introduce innovative solutions such as electric and electro-hydraulic braking systems, carbon brakes, and anti-skid systems.Safran S.A., a leading aerospace company, holds a significant market share in the Aircraft Braking System Market. The company offers a comprehensive portfolio of braking systems for commercial, business, and military aircraft. Safran's commitment to innovation has resulted in the development of advanced braking technologies, including the MESH (Modular Electro-Hydrostatic Braking) system, which provides enhanced braking performance and reduces maintenance costs. Through strategic partnerships and acquisitions, Safran continues to expand its reach and strengthen its position in the market.A prominent competitor in the Aircraft Braking System Market is Meggitt Plc, a UK-based aerospace engineering company. Meggitt specializes in the design, development, and manufacture of braking systems, actuators, and other components for the aviation industry. The company's brake systems are known for their reliability, durability, and ability to withstand extreme operating conditions. Meggitt has a strong presence and serves a diverse customer base, including commercial airlines, aircraft manufacturers, and military organizations. The company's focus on innovation and customer-centric approach has enabled it to maintain its position as a leading competitor in the market.
Key Companies in the Aircraft Braking System Market Include
- Woodward Inc.
- CurtissWright Corporation
- Safran SA
- Moog Inc.
- UTC Aerospace Systems
- Airbus SE
- Raytheon Technologies Corporation
- Meggitt PLC
- Parker Hannifin Corporation
- Eaton Corporation
- HydroQuébec
- LiebherrInternational AG
- Boeing Company
- Honeywell International Inc.
Aircraft Braking System Market Industry Developments
The aircraft braking system market is anticipated to witness steady growth over the forecast period, driven by rising air passenger traffic and increasing demand for aircraft. According to a report by MarketWatch, the market is expected to reach a value of USD 14.5 billion by 2032, expanding at a CAGR of 3.56% from 2024 to 2032. The increasing adoption of composite materials and advancements in braking technologies are further expected to drive market growth. Recent news developments include the launch of new products, such as Honeywell's latest-generation carbon brakes for commercial aircraft, and strategic partnerships between key players to enhance market reach.
Aircraft Braking System Market Segmentation Insights
Aircraft Braking System Market Aircraft Type Outlook
- Commercial Aircraft
- Business Jets
- Regional Aircraft
- Military Aircraft
Aircraft Braking System Market System Type Outlook
- Anti-Skid Braking Systems
- Auto-Braking Systems
- Electric Braking Systems
- Hydraulic Braking Systems
Aircraft Braking System Market Technology Outlook
- Friction Brakes
- Carbon Brakes
- Electromagnetic Brakes
Aircraft Braking System Market Application Outlook
Aircraft Braking System Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
10.22(USD Billion) |
| Market Size 2023 |
10.58(USD Billion) |
| Market Size 2032 |
14.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.56% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Woodward Inc., CurtissWright Corporation, Safran SA, Moog Inc., UTC Aerospace Systems, Airbus SE, Raytheon Technologies Corporation, Meggitt PLC, Parker Hannifin Corporation, Eaton Corporation, HydroQuébec, LiebherrInternational AG, Boeing Company, Honeywell International Inc. |
| Segments Covered |
Aircraft Type, System Type, Technology, Application, Regional |
| Key Market Opportunities |
Electric braking systems Carbon brakes Highefficiency brake materials Advanced braking sensors Predictive maintenance systems |
| Key Market Dynamics |
Increasing Aircraft Deliveries Advancements in Electromechanical Systems Growing Demand for Lightweight Components Focus on Carbon Emission Reduction Rise of Unmanned Aerial Systems |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
What is the expected market size of the Aircraft Braking System Market in 2023? The Aircraft Braking System Market is expected to have a market size of 10.58 billion USD in 2023.
The Aircraft Braking System Market is expected to grow at a CAGR of 3.56% from 2023 to 2032.
North America is expected to have the largest market share in the Aircraft Braking System Market in 2023.
The commercial aviation segment is expected to have the highest growth rate in the Aircraft Braking System Market from 2023 to 2032.
Some of the key competitors in the Aircraft Braking System Market include Honeywell International Inc., Safran S.A., and Moog Inc.
The major factors driving the growth of the Aircraft Braking System Market include the increasing demand for air travel, the growing number of aircraft deliveries, and the need for improved safety and efficiency in aircraft braking systems.
The major challenges faced by the Aircraft Braking System Market include the high cost of development and production, the stringent regulatory environment, and the intense competition.
The key trends in the Aircraft Braking System Market include the development of new materials and technologies, the integration of advanced electronics and sensors, and the increasing use of data analytics.
The key opportunities for growth in the Aircraft Braking System Market include the expansion of the commercial aviation industry, the development of new aircraft, and the increasing demand for safety and efficiency.
The key challenges for growth in the Aircraft Braking System Market include the high cost of development and production, the stringent regulatory environment, and the intense competition.
