The Aircraft Wheels and Brakes Market is estimated to reach US$ 30.01 billion by 2025 from US$ 11.30 billion in 2016. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Aircraft Wheels and Brakes Market by application is segmented into precision farming, livestock monitoring, yield monitoring, soil health monitoring, irrigation systems, forestry, variable rate technology (VRT), asset management, smart greenhouse and others. Precision farming has received maximum traction over the years, however livestock monitoring is projected to grow at a significant rate during the forecast period, and precision farming would continue to dominate the market by capturing majority revenue share in the market.
By the year 2050 the total global population is expected to increase by approximately 16.5%, and to meet their daily food demand, the agriculture sector globally is expected to increase its production by 70%. Presently, achieving the target of minimum food security for survival is the major challenge faced by the industry. Thus, the organization across the globe are promoting the adoption of smart agriculture solution, which would further reduce the time consuming process of crop yielding and also enhance the research practices in this field.
Along with the rising trend of globalization, the people are getting more educated regarding healthy diet and thus the food and beverages industry is experiencing a sturdy shift in the food consumption pattern. More number of people today, have started including non - vegetarian food produces, which is subsequently leading to rising demand for efficient production of livestock. Hence, the demand for livestock management system is expected to increase during the forecast period.
There has been constant development in smart agriculture industry. Recently, the company John Deere introduced new crop of Worksite Pro attachments for agricultural industry. Worksite Pro is company's range of agricultural attachments. These attachments include two silage defacers (AD7 and AD11), five bale spears (AB21, AB31, AB32, AB42 and AB43), and a bale hugger (AH80). Such innovative initiatives in this field are anticipated to further encourage the growth of Aircraft Wheels and Brakes Market in the coming years.
Some of the leading Aircraft Wheels and Brakes Market players are AGCO Corporation, Ag Junction Inc., AG Leader Technology, Deere & Company, Raven Industries, Inc., Semiosbio Technologies Inc., SST Development Group, Inc., Teejet Technologies, Topcon Precision Agriculture and Trimble Navigation Limited among others.
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The report segments the global Aircraft Wheels and Brakes Market as follows:
Global Aircraft Wheels and Brakes Market - By Product type
- Sensor Based Monitoring System
- Smart Detection System
- GPS Active Ranging System
- Climate Information
- Supply Chain Management
- Others (System Integration, Maintenance and Consulting Service)
Global Aircraft Wheels and Brakes Market - By Application
- Precision Farming
- Livestock Monitoring
- Yield Monitoring
- Soil Heath Monitoring
- Irrigation System
- VRT (Variable Rate Technology)
- Asset Management
- Smart Greenhouse
Global Aircraft Wheels and Brakes Market - By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America (SA)
- Rest of SA
Aircraft Wheels and Brakes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Braking System, Wheels, and Brakes), Fit Type (Line Fit and Retro Fit), and End User (Defense and Commercial) and Geography
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