The commercial aircraft carbon brake market is anticipated to register a CAGR of about 5% during the forecast period.
- The use of carbon brakes instead of steel brakes helps in the reduction of weight. This makes the landing gear lighter and the decrease in weight translates to the decrease in fuel consumption and emissions of aircraft.
- The increasing demand for the newer generation of aircraft and the initiatives taken by the airlines for maximizing their profits (by reducing the operational costs and increasing fuel efficiency) are the main drivers for the growth of the commercial aircraft carbon brake market.
Key Market Trends
Growing Sales of Commercial Aircraft will Drive the market
Air travel increased immensely over the past five years. The airlines, in order to increase their market dominance, are expanding and introducing new routes. This factor generated the demand for new aircraft. Additionally, the growing success of low-cost carriers (LCC) in the emerging economies also increased the sales of single-aisle aircraft over the years. In addition to these factors, the demand for wide-body aircraft has been increasing (for longer routes). The procurement of new aircraft is expected to generate the demand for new brakes. In addition, aircraft wheels are subjected to a high amount of impact force on landing, as they, unlike other land vehicles' brakes, are more prone to higher friction force. This generates the need for replacing the brakes of commercial aircraft after every 200 landing, in order to avoid accidents, due to the wear and tear of brakes. This factor is expected to further strengthen the growth of the aftermarket segment of the commercial aircraft brakes market.
North America and Asia-Pacific to Dominate the Market
North America holds the highest market share, owing to the huge number of commercial aircraft in the United States. This factor is expected to generate a demand for carbon brakes, due to the large size of fleet and the need for replacement of brakes. The airlines in this region are investing to procure newer generation of aircraft. The growing tourism and cross-border trade in countries, like China, India, Indonesia, Singapore, South Korea, Malaysia, Thailand, Australia, and Vietnam, increased the traffic of passengers in the region. The aviation market in the region is expected to witness significant growth in the next few years. With the potentials for the growth of the aviation market in Asia-Pacific, several companies are expanding their operations in the region. Thus, the Asia-Pacific region is anticipated to record the highest growth rate during the forecast period.
The market consists of players, like Honeywell International Inc., Meggitt PLC, Safran SA, Parker Hannifan Corp., and Collins Aerospace. Due to the presence of a few players, the intensity of competitive rivalry among the players is intense. The new aircraft programs are expected to provide opportunities for these players to further expand their dominance in the market. Old aircraft models that had steel brakes are undergoing replacement, as carbon brakes offer weight reduction. The aftermarket for carbon brakes has a higher potential for growth. It accounts for a significant share of the total revenue of the commercial aircraft carbon brake market.
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