Commercial Aircraft Tire Pressure and Brake Temperature Monitoring System Market - Growth Analysis and Forecast| Technavio

The latest market research report by Technavio on the global commercial aircraft tire pressure and brake temperature monitoring system (TBMS) market predicts a CAGR of close to 7% during the period 2017-2021.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171213005624/en/

The report segments the global commercial aircraft tire pressure and brake temperature monitoring system market by aircraft type (narrow-body aircraft, wide-body aircraft, and regional jets) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global commercial aircraft tire pressure and brake temperature monitoring system market, according to Technavio aerospace and defense researchers:

• Requirement to increase service life of tire and braking system: a major market driver
• In 2016, the narrow-body aircraft segment dominated the market by occupying almost 61% share
• In 2016, the Americas dominated the market, accounting for a market share of close to 41%
• Crane, Meggitt, Safran Landing Systems (Messier-Bugatti-Dowty), and UTC Aerospace Systems are the leading players in the market

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Requirement to increase service life of tire and braking system: a major market driver

Requirement to increase service life of tire and braking system is one of the major factors driving the global commercial aircraft tire pressure and brake temperature monitoring system market. The tires of the aircraft take the full load during landing and taxiing. Proper inflation of tires is essential to prevent failure due to excessive wear. If the tires are under-inflated, the treads may wear rapidly. This may lead to damage or blowouts, particularly during landing. Maintaining an optimum pressure as specified by the tire manufacturer ensures an even distribution of load. This reduces the rolling resistance and ensures maximum life of the tires.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Americas: largest commercial aircraft tire pressure and brake temperature monitoring system market

In 2016, the Americas dominated the market, accounting for a market share of close to 41%. The aerospace industry in the Americas is mature and mostly supported by the robust aviation base in North American countries, particularly the US. By the end of 2016, about one-third of global fleets were operational in North America, and it is anticipated that this number will increase in the next two decades. Boeing and Bombardier are the major aircraft manufacturing companies in the Americas. Both these aircraft OEMs compete with European and Asian companies to increase their share in the global market.

According to Ramyabrata Chakraborty, a lead analyst at Technavio for research on aerospace components, “In the Americas, the US holds the leading position in aerospace manufacturing among the other nations. The aerospace supply chain is highly dependent on sales to airlines and government bodies, particularly the US military. Also, the growing demand for air travel and the fluctuating fuel prices have led to an increase in the demand for fuel-efficient new generation commercial aircrafts across the globe. This is triggering an increase in aerospace sales in this region.”

Competitive vendor landscape

The market comprises of a limited number of global vendors that witness intense competition. In addition to enhancing the capabilities of existing facilities, vendors are also concentrating on expanding their manufacturing bases in emerging regions such as APAC to achieve superior cost-effectiveness. Companies with superior technical expertise and financial resources are expected to acquire major contracts in emerging aerospace manufacturing markets such as China and Singapore. Additionally, an adequate mix of products and aftermarket services will help vendors maintain and improve long-term collaborations with airlines and OEMs.

Get a sample copy of the global commercial aircraft tire pressure and brake temperature monitoring system market report free of cost

Access Technavio’s continuously growing aerospace components research library and find expert analysis on hundreds of markets.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171213005624/en/