(Aviation-NewsWire.Com, May 18, 2017 ) The aircraft brake system market is projected to grow from USD 6.08 Billion in 2017 to USD 8.42 Billion by 2022, at a CAGR of 6.71% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
Factors such as the increasing fleet size and the growing demand for lightweight aircraft components are anticipated to drive the growth of the aircraft brake system market.
The brakes segment is projected to witness the highest growth during the forecast period
Based on component, the brakes segment of the aircraft brake system market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the high demand for carbon brakes and technological advances in braking systems, such as electric braking systems.
The line-fit segment is estimated to account for the largest share of the aircraft brake system market
Based on fit, the line-fit segment is estimated to account for the largest share of the aircraft brake system market in 2017. Aircraft wheels and brakes suppliers offer the line-fit option, as these components are installed in the aircraft before its delivery, thereby reducing the need to maintain a separate workforce for the installation of such components.
The commercial platform segment is projected to witness the highest growth during the forecast period
Based on platform, the commercial segment is projected to grow at the highest CAGR during the forecast period. The rise in air passenger traffic worldwide has led to an increase in commercial aircraft orders and deliveries, thereby enhancing the demand for aircraft brake systems.
The aircraft brake system market in Asia-Pacific is projected to witness the highest growth during the forecast period
The aircraft brake system market in the Asia-Pacific region is anticipated to grow at the highest CAGR from 2017 to 2022. This growth is primarily driven by the increase in aircraft orders, owing to the growing demand for air travel in this region.
Key manufacturers and suppliers of aircraft brake systems include Honeywell International Inc. (U.S.), Meggitt PLC (U.K.), United Technologies Corporation (U.S.), and Safran S.A. (France), among others.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: