Sellbyville, DE -- (SBWire) -- 02/26/2019 --North America aircraft carbon braking system market is expected to acquire maximum share owing to substantial aircraft production across the region. Presence of established aerospace industry leaders such as Boeing and Bombardier will further contribute to the revenue generation significantly. The region is witnessing rising number of military modernization programs that has led to high procurement of military aircrafts, further supporting the regional dominance till 2024.
Asia Pacific will witness significant growth over the forecast timeline owing to continuously growing commercial aviation industry, specifically in emerging economies including India, Malaysia, and China.
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Aircraft carbon braking system market is segmented based on end use into commercial, regional, military aircrafts, and business jets. Commercial aircrafts are likely to capture highest revenue share over the forecast timeframe owing to their continuously rising number of deliveries across the globe. Rising air passenger traffic, especially in developing countries due to affordability of prices will result in increased production of aircrafts, further supporting the industry dominance. Military aircrafts will grow substantially owing to rising defense budgets of various countries across the globe. Military aircrafts are being equipped with these braking systems owing to provision of the benefits such as lightweight and enhanced performance.
Rising concerns regarding carbon dioxide emissions across the globe has mandated the aerospace industry to shift its focus towards green aircraft taxiing system. The operation of this system involves aircraft movements on the ground under its own power that demands significant fuel requirement. This has resulted in the implementation of alternative approaches for aircraft taxiing. Numerous companies are focusing on development of alternative and hybrid approaches for reduction of excessive emission and fuel consumption during taxiing. Industry participants are regularly focusing on innovations in carbon brakes that support the fuel efficiency of aircrafts.
Suppliers of carbon brake systems are making heavy investments to develop advanced protective antioxidant coatings and core carbon matrix materials that increase the aircraft's landing per overhaul period. Usage of nano composite material in manufacturing of these systems is another trend that has gained traction among the industry participants. These materials are highly being used owing to their benefits such as high heat dissipation properties, low density, enhanced wear resistance and stable friction coefficient. These innovations are anticipated to induce immense potential to the aircraft carbon braking system market till 2024.
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Rising number of aircraft deliveries from regional airline operators, specifically from Asia Pacific and MEA coupled with rising procurement of fighter aircrafts will primarily drive the industrial growth. Aircrafts are increasingly being installed with these braking systems owing to their benefits including significant aircraft weight reduction and decreased fuel consumption. These advantages have resulted in usage of these brakes as a replacement to steel brakes, further fueling the growth of aircraft carbon braking system market share till 2024.
The industry is highly consolidated with few players acquiring the global market share. Honeywell, Meggit, Crane Aerospace Systems, UTC Aerospace Systems, and Safran are among the prominent participants in the aircraft carbon brake system market. The competitors are focusing on partnerships with landing gear integrators and aircraft manufacturers to strengthen their foothold in the industry. New product development is another strategy adopted by the industry participants. For instance, in June 2015, UTC Aerospace Systems developed advanced carbon brakes with lesser components and a significantly higher lifespan than steel brakes. This product resulted in considerable cost saving for military and commercial airlines.
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Aircraft Carbon Braking System Market – Honeywell Aerospace, Meggitt, Crane Aerospace & Electronics, UTC Aerospace Systems, and Safran
Aircraft carbon braking system market is segmented based on end use into commercial, regional, military aircrafts, and business jets.