According to our latest market study on “Railway Braking System Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Pneumatic Brake, Electrodynamic Brake, Mechanical Brake, and Electromagnetic Brake) and Train Type (Metros, Monorail, High-Speed Train, Light Rail/Trams, and Freight Train),” the market was valued at US$ 8,909.9 million in 2019 and is projected to reach US$ 10,515.7 million by 2027; it is expected to grow at a CAGR of 3.7% from 2019 to 2027.

The report highlights the key factors driving the market growth, and prominent players and their developments in the market.In North America, companies offering railway braking system and manufacturing rail vehicles, such as Webtac Corporation, Bombardier Inc., are contributing toward strengthening the regional railway sector, which, in turn, would drive the market. Any product development or R&D for the future development of rail transit would contribute toward the adoption of complementary systems including braking systems in the region. Also, growing significance of high-speed rail is other aspect projected to contribute toward the adoption of railway braking system and thus, influencing the market growth.

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Furthermore, the concept of automated and driverless vehicle is consistently making a huge transition in transport systems. The idea of autonomous driving is making its entry in the railway sector. In Europe, automatic train operation is becoming a latest trend impacting the railway sector of the region. In October 2019, six German companies, led by Siemens Mobility, started a joint project named “AStriD” – Autonome Straßenbahn im Depot” (Autonomous Tram in Depot). In this project, the participants would examine autonomous tram in automated depot. Such projects in the field of automation would help in boosting the integration of systems, such as railway braking systems. CLEARSY is engaged in offering automatic train braking systems which work without having train localization system and train location information. In this new system, only one beacon connected to a signal is installed for detecting train speed. Moreover, embedded sensors are connected to the train braking system, which contribute in making the braking system more efficient.

ABB Ltd.; akebono brake industry Co., Ltd; Alstom SA; Amsted Rail; DAKO-CZ, A.S; Frenoplast; Knorr-Bremse AG; NABTESCO CORPORATION; SABRE RAIL SERVICES LTD.; and Wabtec Corporation are among the key market players that are profiled during this market study. In addition to these players, several other important market players operating in the ecosystem were studied and analyzed during the course of this market research study to get a holistic view of the global railway braking system market.

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