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Increasing aircraft deliveries and minimization of maintenance cost are among the major driving factors for the growth of the aircraft electric brake control system market
The major factor driving the global market growth is increasing aircraft deliveries, owing to increasing air passengers’ traffic worldwide. For instance, according to the Coherent Market Insights, total 43,725 units of commercial aircrafts will be delivered from 2017 to 2036 worldwide. Therefore, increasing number of aircraft deliveries is expected to positively increase the demand for electric brake systems, which is expected to overcome challenges associated with hydraulic brake system, such as sometimes fluid makes the system useless when slight leakage among others. This factor is expected to propel growth of the aircraft electric brake control system market during the forecast period
Furthermore, the airlines are also more concern for reduction of operational and maintenance costs, which will directly help them to increase the overall revenue. Thus, airlines are expected to propel demand for the aircraft assembled with new electric brake control system, as it has longer brake life as compared to the hydraulic brake, which in turn is fuelling the growth of the market.
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Global Aircraft Electric Brake Control System Market: Regional Insights
The global market for aircraft electric brake control system market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for North America accounted largest share in the global aircraft electric brake market in 2016, and this market is expected to retain its dominance during the forecast period. The U.S. is the prominent source for the regional market growth due to the presence of the key players including Airbus, Boeing, and BAE Systems. Moreover, this growth is attributed to increasing aircraft deliveries in this particular region due to the increasing air passenger traffic. These factors are expected to boost regional market growth. For instance, according to Airbus, the number of aircraft delivered in 2017 is 2,360 units and the number of order placed for the period of 2018 to 2036 is 3,260 units. Therefore, increasing deliveries of the aircraft are expected to propel the demand for electric brakes, which in turn is expected to boost the regional market growth.
Asia Pacific is expected to be the fastest growing region during the forecasted period followed by North America. According to the International Air Transport Association (IATA), the aviation sector of Asia Pacific region is projected to grow continuously in next two decades. Emerging economies such as India and China are projected to proportionally help in increasing air travelling, owing increasing urbanisation and high disposable incomes. For instance, according to the Boeing, the total number new aircraft to be delivered in the Asia-Pacific region between the periods of 2015 to 2034 is around 38,050 units.
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Global Aircraft Electric Brake Control System Market: Competitive Insights
The key players in the aircraft electric brake control system market includes UTC Aerospace System, Safran Landing System, Crane Aerospace& Electronics, Honeywell International, Inc., Aeroned Inc., Fan Jet USA, Meggitt Group, Advent Aircraft System,Inc., Saywell international, Inc., and Parker Hannifin Co.