Aircraft Brake System Market

Honeywell International Inc. (U.S.) and Safran S.A. (France) are the Leading Player in the Aircraft Brake System Market

The aircraft brake system market is expected to reach USD 8.41 Billion by 2022, at a CAGR of 6.71% from 2017 to 2022. This growth is mainly attributed to the increase in air passenger traffic, owing to the rise in air travel across varied regions worldwide, especially the Middle East and Asia-Pacific. The rise in air passenger traffic has propelled airline operators to increase the procurement of new aircraft, thereby contributing to the growth of the aircraft brake system market. In addition, technological advancements in the aviation sector have resulted in the demand for efficient and lightweight aircraft components, including wheels and braking systems. This, in turn, has further propelled the growth of the aircraft brake system market.

Key players in the aircraft brake system market include Honeywell International Inc. (U.S.), Safran S.A. (France), UTC Aerospace Systems (U.S.), Meggitt PLC (U.K.), Crane Aerospace & Electronics (U.S.), and Parker Hannifin Corporation (U.S.), among others. Stakeholders in this market such as component manufacturers, OEMs, and suppliers are focusing on the development of advanced braking system components and improved avionics for aircraft.

Honeywell International Inc. (U.S.) is one of the leading players in the aircraft brake system market. The company provides aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors. In 2016, the company received a five-year contract from the U.S. Defense Logistics Agency to supply aircraft wheels and brakes spare parts. In the same year, Honeywell International Inc. extended its existing aftermarket support contracts with the Korean low-cost carrier, Jeju Air. The contract extends Honeywell’s existing wheels and brakes exchange program by seven years.

Safran S.A. (France) is another leading player in the aircraft brake system market. The aircraft equipment segment of the company designs and develops thrust reversers; wheels and braking systems; and electrical power transmission, distribution, and management equipment. In 2015, Safran S.A. offered electric braking system for Airbus Helicopters’ latest model, the H160. In the same year, Safran S.A. choose Malaysia to set up its new carbon disk production and refurbishment plant, which has the fastest-growing fleet of commercial airplanes. This new Malaysian plant specializes in the supply of carbon discs for commercial aircraft brakes.

Related Reports:

Aircraft Brake System Market by Component (Braking Systems (Sensors, Transducers, Actuators, Valves, and Others), Brakes, and Wheels), Fit (Line-Fit and Retrofit), Platform (Commercial and Defense), Region - Global Forecast to 2022

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Report Code
AS 5248
RI Published ON
5/11/2017
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