In this paper, magnetic flux distributions of several permanent magnet arrays, including Halbach array, are analyzed and compared. Also, braking force characteristics on a moving solid conductor in the eddy current brake systems with such magnet arrays are analyzed. Then, a new performance index taking into account the maximum braking force and the volume of the magnet is introduced for the comparison and case study of permanent magnet arrays. By changing the lengths, magnetization directions and the height of the permanent magnet arrays, a higher braking force per volume of the magnet can be achieved.