The global aircraft carbon braking system market is anticipated to grow at a considerable CAGR of 3.8% during the forecast period (2022-2028). The aircraft carbon braking system is the braking system installed in aircrafts, including commercial, business, and military aircraft that use carbon brake pads. The major factor attributing to the growth of the global aircraft carbon braking system market includes the increasing air passenger traffic across the globe. According to yearly statistics provided by the International Civil Aviation Organization (ICAO), the number of air passengers carried by scheduled flights was around 4.38 billion across the globe in 2019 representing an increase of around 3.65% from the previous year. Furthermore, according to the International Air transport Association (IATA), it is projected that the number of air passengers will get doubled and reach around 8.2 billion by the year 2037. Thus, increasing the application of aircraft carbon braking systems.
The application of carbon braking systems in aircraft is also increasing due to several operational advantages provided by carbon brake pads in aircraft braking systems. These advantages include the longer lifespan with around twice the life of traditional steel brakes, enhanced energy absorption capabilities for efficient braking, and being lighter than steel brakes. Thus, propelling the growth of the global aircraft carbon braking system market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-
- In May 2021, HAECO Hong Kong, a member of HAECO Group extended its long-term agreement with AeroLogic GmbH, a German cargo airline. Under this agreement, the HAECO Hong Kong will provide heavy maintenance services to AeroLogic’s 18 Boeing 777F aircraft with an additional AeroLogic’s Boeing 777-200 freighter fleet from the year 2021 to 2024.
- In April 2020, Honeywell International Inc. signed a license and parts supply agreement with Fokker Landing Gear Business of GKN Aerospace. According to this agreement, GKN Aerospace became an authorized service center for Honeywell’s wheels and brakes product for the maintenance of the F-35 military fighter jet.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Honeywell International Inc., Meggitt PLC, Safran Group, Crane Co., and Parker Hannifin Corp., among others.
A full report is available at: https://orionmarketreports.com/global-aircraft-carbon-braking-system-market/109414/
Global Aircraft Carbon Braking System Market Report by Segment
By Type
- Power Brake
- Boosted Brake
- Independent Brake
By Application
- Commercial Aircrafts
- Business Jets
- Military Aircrafts
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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