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Aircraft Braking System Market Size
- Report ID: GMI5100
- Published Date: Oct 2023
- Report Format: PDF
Aircraft Braking System Market Size
Aircraft Braking System Market was valued at USD 6.8 billion in 2022 and is anticipated to grow at a CAGR of over 4% between 2023 and 2032.
The global surge in air travel, driven by rising disposable incomes, urbanization, and a growing middle-class population, has led to a higher demand for new commercial aircraft. This, in turn, necessitates advanced braking systems to ensure safety during landing and ground operations. Furthermore, airlines frequently expand their fleets to meet this heightened demand, creating a substantial market for braking system manufacturers. As aircraft fleets expand, older aircraft are phased out or retrofitted, requiring the installation of modern braking systems to meet evolving safety and efficiency standards.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Aircraft Braking System Market Size in 2022: | USD 6.8 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4% |
| 2032 Value Projection: | USD 10 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 346 |
| Segments covered: | USD 10 Billion Component, Actuation, Aircraft Type, End-use industry & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Additionally, continuous technological advancements in braking systems including carbon brakes and anti-skid technology contribute to market growth as airlines seek more reliable & efficient options to reduce operational costs and enhance passenger safety. For instance, in May 2022, AllClear Aerospace & Defense (“AllClear”) has signed a multi-year distribution agreement with Aircraft Wheel and Brake, LLC, a Kaman company. Through this partnership, AllClear continues to expand its product portfolio and military aerospace aftermarket support for the KT-1 and KT-100 programs.
Manufacturing challenges are a pitfall in the aircraft braking system market due to the complexity and precision required in producing these critical components. Aircraft braking systems must adhere to stringent quality and safety standards, necessitating advanced manufacturing processes & materials. Challenges include the need for precision machining, heat-resistant materials, and strict adherence to aviation regulations. Additionally, ensuring consistency in large-scale production while maintaining high quality can be a significant hurdle. Variations in manufacturing processes can lead to defects, jeopardizing safety. To overcome these challenges, manufacturers must invest in advanced technologies, quality control measures & skilled labor, which can increase production costs.
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Aircraft Braking System Market Scope
