Market Size of Aircraft Brakes Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.83 Billion |
| Market Size (2029) | USD 12.65 Billion |
| CAGR (2024 - 2029) | 5.16 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aircraft Brakes Market Analysis
The Aircraft Brakes Market size is estimated at USD 9.83 billion in 2024, and is expected to reach USD 12.65 billion by 2029, growing at a CAGR of 5.16% during the forecast period (2024-2029).
- The aviation sector faced unmatched challenges due to the COVID-19 pandemic. Supply chain disruptions brought by the pandemic and labor shortages hindered the market growth during the pandemic. Also, key aircraft OEMs such as Airbus and Boeing halted production due to employee safety concerns and government regulations that hamper the market growth. The market showcased a strong recovery from 2021 due to increased demand for new aircraft and rising spending on advanced aircraft brakes.
- The procurement of newer generation aircraft in the commercial and military sectors is one of the major reasons for the development of the aircraft brakes market. With increasing emphasis on the reduction of the weight of aircraft and with the concept of more electric aircraft, new lightweight brakes are being developed (like electric brakes).
- Aircraft brake systems are essential components of all aircraft that allow the aircraft to land safely and quickly. Growing demand for new commercial and military aircraft and rising spending on the development of advanced braking systems propel the demand for aircraft brakes. Technological advancements in the aircraft braking system and the introduction of advanced brake discs drive the growth of the market.
