DUBLIN--(BUSINESS WIRE)--The "Aircraft Brakes Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The aircraft brakes market is anticipated to grow at a CAGR of above 5% during the forecast period.
- The procurement of newer generation aircraft in commercial and military sectors is one of the major reasons for the development of aircraft brakes market.
- With increasing emphasis on the reduction of weight of aircraft and the concept of more electric aircraft, new lightweight brakes are being developed (like electric brakes) which 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.
Key Market Trends
Commercial Segment to Experience the Highest Growth During the Forecast Period
The commercial segment of the market currently has the highest market 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 lightweight compared to steel brakes and more mean time between repairs (MTBR).
However, in recent years, the commercial aviation sector has been moving towards more-electric architecture with the main aim of reduced weight and low 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 will tend to use electric brakes as they help in cutting down the fuel and maintenance costs. This trend in commercial aircraft technology will be a major factor in supporting the growth of this segment during the forecast period.
Asia-Pacific to Experience the Highest Growth During the Forecast Period
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 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 by India, KF-X by Korea and Indonesia, Mitsubishi Regional Jet (MRJ) by Japan and COMAC C919 by China. Development of such advanced aircraft will require newer types of brake that improves the performance. With on-going procurements of aircraft along with increasing manufacturing capabilities will boost the growth of the region during the forecast period.
The prominent players in the market of aircraft brakes are Collins Aerospace, 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 value and long term contracts with the aircraft OEMs, these prominent players dominate the market making it difficult for new players to capitalize in this market. Also, the investments of the companies in the electric brake technology, which is currently in its initial stage is expected to help the companies to maintain a prominent position during the transition from carbon brakes to electric brakes in the coming future.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1.1 Electric Brakes
5.1.2 Carbon Brakes
5.1.3 Steel Brakes
5.2.3 General Aviation
5.3.1 North America
22.214.171.124 United States
5.3.2 Latin America
126.96.36.199 Rest of Latin America
188.8.131.52 Rest of Asia-Pacific
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.5 Middle East & Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Safran S.A.
6.4.2 Meggit PLC
6.4.3 Honeywell International Inc.
6.4.4 Collins Aerospace
6.4.5 Parker Hannifin Corporation
6.4.6 Crane Aerospace & Electronics
6.4.7 Beringer Aero
6.4.8 Advent Aircraft Systems Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ds3bs3