Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Aircraft Brakes Market size was valued at USD 9.96 billion in 2024 and is set to exceed USD 19.25 billion by 2037, registering over 5.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of aircraft brakes is evaluated at USD 10.4 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.
Aircraft Brakes Sector: Growth Drivers and Challenges
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
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.2% |
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Base Year Market Size (2023) |
USD 9.47 billion |
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Forecast Year Market Size (2036) |
USD 18.3 billion |
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Regional Scope |
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Aircraft Brakes Segmentation
The market is segmented by brakes type, by component type, by fit type & by end-user. Among this segment, the component type segment is further segmented to wheels, brakes, and braking systems, out of which, the brakes segment is anticipated to hold leading shares in the aircraft brakes market on account of the high demand for carbon brakes and technological progressions in braking systems, such as electric braking systems. On the contrary, the retrofit segment of the fit type sector is expected to witness higher growth during the forecast period owing to the aircraft maintenance and repair activities executed within a span of four to five years.
Our in-depth analysis of the global market includes the following segments
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By Brake Type |
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By Component Type |
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By Fit Type |
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By End-User |
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Customize this ReportAircraft Brakes Industry - Regional Synopsis
Based on region, the aircraft brakes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Asia Pacific industry is predicted to account for largest revenue share by 2037, owing to notable growth in the passenger traffic coupled with significant growth in general aviation in the region. However, North America is estimated to hold the largest share in the market for carbon brakes, on account of the presence of a large number of market participants.
Companies Dominating the Aircraft Brakes Landscape
- Honeywell International Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 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
In the News
Author Credits: Dhruv Bhatia
- Report ID: 2654
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
