The new report by Expert Market Research titled, ‘Global Aircraft Actuator Market and Forecast 2022-2027’, gives an in-depth analysis of the aircraft actuator market, assessing the market based on its segments like type, system, end user and major regions. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 14.3 Billion
• Forecast CAGR (2022-2027): 6.20%
• Forecast Market Size (2027): USD 20.7 Billion
Pneumatic actuators deliver a tremendous amount of force and speed. As a result, linear motion control applications have a high demand for this market. Pneumatic actuators do not overheat, which is a significant advantage in this system. Furthermore, pneumatic actuators are extremely sturdy and dependable, and can be utilized for a long time. Furthermore, the segment’s cost-effectiveness is projected to drive demand for the product in the commercial aircraft market. During the projected period, these factors are expected to help the market.
Aircraft Actuator Industry Definition and Major Segments
A device fitted in an airplane that converts electrical information into mechanical movement is known as an aircraft actuator. By repositioning levers and flaps, actuators in aircraft can control the velocity and engine speed. In an aircraft, this device can be found in the water system, air system, oxygen system, and fuel system, among other places.
Based on type, the market can be bifurcated into:
Based on system, the aircraft actuator market can be segmented into:
• Hydraulic Actuators
• Electrical Actuators
• Pneumatic Actuators
• Mechanical Actuators
Based on end user, the market is segmented into:
• Commercial Aircraft
• Military Aircraft
Based on region, the market can be divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Aircraft Actuator Market Trends
The market is being driven by the increasing use of aircraft actuators in military aircraft as a result of rising defence spending in emerging economies around the world. Rapid urbanization, manufacturers’ increased interest in manufacturing lightweight aircraft, and a robust aviation industry in both developing and developed countries are some of the primary drivers driving market expansion. The need for actuators will be driven by a strong demand for light combat aircraft over the projected period, owing to escalating geopolitical tensions and the danger of military conflict.
The aviation actuator business in North America is fueled by the region’s major aircraft manufacturers’ stronghold, as well as increased investments to upgrade commercial aircraft to improve passenger comfort. The market is projected to benefit from passengers’ increased preference for travelling via air. This can be linked to the region’s increased disposable income and growing population. Furthermore, technologically advanced infrastructure in countries such as the United States and Canada is expected to boost the market in the area throughout the forecast period.
Key Market Players
The major players within the market:
• Honeywell International Inc.
• Collins Aerospace
• Parker-Hannifin Corporation
• Moog Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.