aircraft braking systems market

PORTLAND, OREGON, USA, September 5, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled “Aircraft Braking Systems Market By Aircraft Type, Actuation and Distribution: Global Opportunity Analysis and Industry Forecast, 2021-2030”, the global Aircraft Braking Systems Market was valued at USD 10.52 Billion in 2020 and is projected to reach $16.95 billion by 2030, registering a CAGR of 5.2%.

Asia-Pacific leads the market in terms of revenue, followed by North America, Europe and LAMEA. The United States dominated the global aircraft braking systems market in North America in 2020, owing to increasing R&D activities, technological developments by major players, and rapid adoption of innovative technologies for the manufacture of durable and long-lasting aircraft braking systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to the increase in passenger air traffic in different countries in the region as well as the implementation of strict regulations and inspections in aircraft safety in major countries such as China, India and Japan.

By aircraft type, the aircraft braking systems market is segregated into fixed wing and rotary wing. The fixed-wing segment accounted for the highest revenue in 2020, due to the presence of a large airline fleet of fixed-wing aircraft in the world and technological advancements in braking systems of fixed-wing aircraft fixed.

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Aircraft Braking System COVID-19 Scenario:

Accelerated spread of COVID-19 impacted the global Aircraft Braking Systems market in 2020 due to stringent lockdown restrictions and disruption in supply chain and raw materials.
The pandemic has imposed several challenges on the market, such as logistical difficulties and the gap between supply and demand.
Due to lack of capital and limited business activities, manufacturers have reduced their R&D investments to survive in an uncertain economy.
The outbreak of the COVID-19 pandemic has also led to a drop in air traffic figures.
The report segments the global aircraft braking systems market on the basis of actuation, distribution, aircraft type and region.

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Based on aircraft type, the fixed-wing segment accounted for the largest market share in 2020, contributing more than three quarters of the total share, and is expected to maintain its lead throughout the forecast period. The same segment is estimated to experience the fastest CAGR of 5.3% from 2021 to 2030. The report also covers the rotary wing segment.

Based on actuation, the power outages segment contributed the highest market share in 2020, attributing more than two-fifths of the total market share, and is expected to dominate the market during the period of forecast. The same segment is expected to show the fastest CAGR of 5.7% from 2021 to 2030. The report also covers segments such as power brake and independent brake.

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Based on region, Asia-Pacific, followed by North America, contributed the highest share in 2020, holding about a third of the total share, and is expected to maintain its dominance throughout the forecast period. The global Asia-Pacific aircraft braking systems market is expected to register the fastest CAGR of 6.5% during the forecast period.

Key players in the global aircraft braking systems market analyzed in the research include AAR Corp., Lufthansa Technik AG Crane Co., Honeywell International Inc., Beringer Aero, The Carlyle Johnson Machine Company, Meggitt PLC, Safran, Collins Aerospace and Parker- Hannifin Company.

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Similar reports we have from the brake systems industry:

Brake System Market – https://www.alliedmarketresearch.com/brake-system-market

Disc Brake System Market – https://www.alliedmarketresearch.com/disc-brake-system-market-A08763

Modular Braking System Market – https://www.alliedmarketresearch.com/modular-brake-system-market-A12285

About Us –

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

David Correa
Allied Analytics LLP
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