Future Market Insights has published a new market research report on the aircraft carbon brake disc market that contains global industry analysis during 2014 – 2018 and opportunity assessment during 2019 – 2029. The report covers the latest trends, key success factors, growth influencing factors, key information, forecasting factors, macroeconomics factors, and the past market scenario. The aircraft carbon brake disc market report forecasted that carbon-carbon brake discs will gather significant traction throughout the forecast period, owing to the technological advancement in the product such as reduction in fuel consumption, light weight advantages, and cost-effectiveness. The report analyzes the aircraft carbon brake disc market and provides critical insights for the forecast period of 2019 – 2029. The global aircraft carbon brake disc market was valued at ~US$ 900 Mn in 2018 and is projected to increase at a CAGR of ~6% during the projected period of 2019-2029.
As per the key findings of the report, the global aircraft carbon brake disc market is expected to witness considerable growth in upcoming years, due to the steady increase in aircraft fleet size in the view of growing air passenger traffic. The C-SiC, a silicon carbide infused carbon composite, comes with a 25% reduction in weight as compared to the conventional aircraft brake disc. The above mentioned factors are expected to boost the aircraft carbon brake disc market over the forecast period.
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As weight reduction of aircraft remains a top priority of manufacturers to enhance fuel efficiency, players in the aircraft carbon brake disc market are placing their bets on new technologies and materials to ensure ‘lightweight’ properties and maintain innovation supremacy, according to FMI’s analyst.
Increasing Demand for Leased Aircrafts to Support Aftermarket Sales of Aircraft Carbon Brake Discs
An aircraft is an expensive commodity and requires millions of dollars to manufacture and maintain. Most aircrafts in the fleet of regional carriers are leased aircrafts. The small airline carriers lease aircrafts from major players to avoid high capital investments. In addition, the aircrafts’ landing gears are serviced and certain parts and components, such as brake discs, are changed for a better performance. This, in turn, is expected to drive the demand for aircraft carbon bake disc for both the first fit and retro fit.
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Growth in Developing Countries Forecasted to Create Abundant Opportunities
Aircraft carbon brake disc market is expected to grow at a high rate owing to the increasing investment in the aerospace industry. For instance, heavy investment in the airport development across developing countries such as India, China, Singapore and Malaysia is expected to create significant growth opportunities for aircraft carbon brake disc manufacturers across Asia-Pacific and other regions. For instance, in September 2018, Government of India spent ~US$ 60 Bn on doubling the number of airports it operates to meet the demand of the aviation market. In addition, in December 2018, the Civil Aviation Administration of China (CAAC) aimed to construct around 26 new airports by the end of 2035 to meet the growing demand for air travel across the country. China had a total of 234 civil airports by the end of October 2017, which is likely to hit 450 by the end of 2035. Due to this, there has been a notable increase in the number of aircrafts, creating a healthy environment for the aircraft carbon brake disc market.
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Aircraft Carbon Brake Disc Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global aircraft carbon brake disc market. Few examples of key players in the aircraft carbon brake disc market are Meggitt PLC, United Technologies, Safran Group, Mersen, Dawin Friction Corporation, DACC CARBON, Honeywell International Inc., Crane Co., Baimtec Material Co., Ltd, Rubin Aviation Corporation, SGL Carbon, THERMOCOAX, CFCCARBON Co., Ltd., among others. Some of the leading aircraft carbon brake disc manufacturers are moving towards high performance carbon composite materials by investing in research &development activities in order to answer consumer demand and gain a competitive advantage over their peers. Moreover, tier-1 manufacturers such as Meggitt PLC, United Technologies, Safran Group, Honeywell International Inc., and Crane Co., account for around above 50% market share in the overall aircraft carbon brake disc market. The global aircraft carbon brake disc market is considered to be a significantly fragmented one.
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