Aircraft Brake System

Aircraft Brake System market to reach $16.95 Billion by 2030- Allied Market Research

WILMINGTON, OREGON, UNITED STATES, October 31, 2023 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Aircraft Brake System Market by Aircraft Type, Actuation, and Distribution: global opportunity analysis and industry forecast, 2021–2030,” the global aircraft brake system market size was valued at $10.52 billion in 2020, and is projected to reach $16.95 billion by 2030, registering a CAGR of 5.2%.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/aircraft-braking-system-market/purchase-options

Increase in air passenger traffic across the globe and increase in operations in the commercial aviation are expected to drive the aircraft brake system industry during the forecast period. However, stringent regulatory environment toward safety is one of the major factors that is anticipated to hamper the growth of the market. Conversely, implementation of advanced technology is expected to offer lucrative opportunities for the market in future.

Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. U.S. dominated the global aircraft brake system market in North America in 2020, owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making durable and long-lasting aircraft brake systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in air passenger traffic across different nations in the region along with implementation of stringent aircraft safety regulations and inspections across the prominent countries such as China, India, and Japan.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬: https://www.alliedmarketresearch.com/request-sample/6564

By aircraft type, the aircraft brake system market is segregated into fixed wing and rotary wing. The fixed wing segment accounted for the highest revenue in 2020, owing to presence of a large air fleet of fixed wing aircraft globally and technological advancements for fixed wing aircraft brake systems.

On the basis of actuation, the market is divided into power brake, boosted brake, and independent brake. The power brake segment garnered highest revenue in 2020, owing to high demand for aircraft power brake systems across the world.

By distribution, the aircraft brake system market is segregated into OEM and replacement. The replacement segment accounted for the highest revenue in 2020, owing to surge in demand for replacement type aircraft brake systems, as they offer an economical solution to expensive brake systems and are available across the world.

The key players operating in the global aircraft brake system market report include AAR Corp., Beringer Aero, Collins Aerospace, Crane Co., Honeywell International Inc., Lufthansa Technik AG, Meggitt PLC, Parker-Hannifin Corporation, Safran, and the Carlyle Johnson Machine Company

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/6564

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- By aircraft type, the fixed wing segment is expected to register a significant growth during the forecast period.
- On the basis of actuation, the power brake segment is anticipated to exhibit significant growth in future.
- Depending on distribution, the OEM segment is projected to lead the global aircraft brake system market.
- Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

David Correa
Allied Analytics LLP
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.