Non-exhaust emissions have only recently been regulated, despite having negative effects on human health and the environment. Such emissions are emitted while braking due to brake wear. The objective of this study is to evaluate the environmental impact of a braking system with the addition of a brake wear emission filtration device, by conducting a Life Cycle Analysis (LCA) and a Cost Benefit Analysis (CBA). A typical disc brake system used in average European passenger cars is examined. The complete lifecycle of the system is considered, including the stages of material acquisition, manufacturing, transportation, vehicle assembly, distribution, use, and end-of-life. The system’s PM10, PM2.5 and CO2 emissions are investigated in a comparative way. A sensitivity analysis is additionally conducted to evaluate the impact of parameters of both upstream and downstream lifecycle stages in the overall environmental performance of brakes. The health benefits and cost-effectiveness of the filtration system are also examined via CBA. The LCA concludes that filtration effectively reduces the brake system’s PM10 and PM2.5 emissions by 76% and 68% accordingly, reducing any adverse health effects caused by PM. While filtration also leads to a 5 to 7 times increase in the system’s CO2 emissions, an optimization of the device’s design could lessen its contribution to global warming. The sensitivity analysis reveals that the brake system’s lifecycle emissions are mostly affected by parameters in the downstream LCA stages, such as traffic conditions. The CBA confirms that the most beneficial option is to target conventional vehicles than electric ones. The findings aim to bridge the gap between emission-reduction technologies and lifecycle sustainability, supporting policy decisions in Europe for non-exhaust emissions in road transport.