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Aerospace & Defense Brake Market Size in North America Region is Expected to Witness High Growth During the Forecast Timeframe

Author : Ronak Bora | Published Date : 2019-05-17 

Global Market Insights, Inc. has launched a report on aerospace & defense brake market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

North America will witness high growth during the forecast timeframe due to presence of several manufacturers in the region. Moreover, presence of end-user of the product such as Boeing will support the aerospace & defense brake market demand. High airline passenger density will boost the demand for aircrafts thereby stimulating aerospace & defense brake market.

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Aerospace & defense brake market are high engineered products compared to conventional counterparts offering enhanced technological high-quality material with high strength relatively. Technologically advanced products provide enhanced performance than conventional alternatives which in turn will support the industry growth. However, rising instances of aircraft components misfunctioning results in strict government supervision imposing penalties on airliners may hamper industry growth.  
Based on aircraft type, Aerospace & Defense Brake Market can be segmented such as commercial aircraft, regional aircraft, general aircraft and military aircraft. Commercial aircraft holds major market owing to rising demand for commercial aircrafts globally.  Average commercial aircraft transports more than 3 trillion air passengers yearly require regular maintenance and replacement of crucial components such as brakes.

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Major countries investing in new military aircraft manufacturing and purchase will boost the demand from military aircrafts. Currently operating 90,000 military aircraft globally will increase revenue from maintenance & replacement of brakes.

Aerospace & Defense Brake Market will expand owing to increasing demand of new commercial aircraft series of Airbus A320 & A330, Boeing B737 & B787 and defense aircraft F15. Fluctuation in fuel prices coupled with increase in demand of fuel-efficient aircrafts will drive the demand for light weight & high strength aircraft components including brakes. Industry players focusses on reducing operational & maintenance cost to enhance air passenger experience without compromising on safety & security of passengers.

Based on user, the industry is categorized in to original equipment manufacturers (OEMs) and maintenance, repair & overhaul (MRO) service providers. OEMs and integrators require brakes as these are responsible for delivering aircraft with complete installation to the airline operators. Improving service quality, cost effectiveness and compliance with regulatory standards by the aftermarket manufacturers will increase revenue from MRO.

Based on material, industry can be categorized in to carbon and steel brake. Carbon brakes market will expand owing to its superiority in performance over other brakes. Also, carbon brakes are 40% lighter than conventional brakes. These products can absorb heat 2-3 times more than conventional brakes thereby increasing efficiency of braking system.

Some of the participants in aerospace & defense brake market include Honeywell, Safran, UTC Aerospace System, Megitt Aircraft Braking System, Parker Hannifin corporation, Crane Aerospace & Electronics, Lufthansa Technik AG, Matco manufacturing, Nasco Brake system, Crane Aerospace, Rapco Fleet support. The industry highly consolidated owing to strong hold of established players and strict entry barriers. Regional expansion and long-term contracts with aircraft OEMs and airline companies are major strategies adopted by the industry participants.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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