The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Brake System Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Brake System Market was likely to witness an impressive CAGR of 10.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Aircraft Brake System Market Segment Insights:
By Component Type:
The brakes segment is estimated to register the highest growth during the forecast period, driven by the high demand for carbon brakes and technological progressions in braking systems, such as electric braking systems.
By Fit Type:
The retrofit segment is expected to witness a higher growth during the forecast period. This growth is mainly owing to the aircraft maintenance and repair activities executed within a span of four to five years.
By Region:
North America is estimated to command the aircraft brake system market during the forecast period. The aircraft brake system market in Europe and Asia-Pacific is likely to portary significant growth, driven by the increase in demand for cost-effective and highly dependable aircraft brake system components.
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