Pune, India, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global aircraft actuator market size was valued at USD 17.36 billion in 2022 and is projected to grow from USD billion in 2023 to USD 32.16 billion by 2030, exhibiting a CAGR of 8.06% during the forecast period.
Aircraft manufacturers are transitioning from traditional hydraulic actuators to electric actuators, recognizing their superior advantages such as improved efficiency, reduced weight, and absence of leakage. This shift is anticipated to propel the market growth for aircraft actuators in the coming years.
Fortune Business Insights presents this information in their report titled "Global Aircraft Actuator Market, 2023–2030."
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Major Players Profiled in the Aircraft Actuator Market Report:
- Eaton Corporation Inc. (U.S.)
- Parker Hannifin Corporation (U.S.)
- Moog Inc. (U.S.)
- Rockwell Collins (U.S.)
- Sitec Aerospace GmbH (Germany)
- TAMAGAWA SEIKI Co. Ltd. (Japan)
- Woodward Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- Saab AB (Sweden)
- Northrop Grumman Corporation (U.S.)
- The Boeing Company (U.S.)
- Lockheed Martin Corporation (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 8.06% |
| 2030 Value Projection | USD 32.16 Billion |
| Market Size in 2023 | USD 19.01 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Aircraft Actuator Market Growth Drivers | Rise in Demand for Autonomous Aircraft in Aircraft Operations Supports Market Growth |
| Increased Demand for Commercial Aircraft to Boost Market Growth |
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https://www.fortunebusinessinsights.com/aircraft-actuator-market-102578
COVID-19 Impact:
Unprecedented Disruptions Amidst the COVID-19 Pandemic Impeded Growth
The aerospace industry has been significantly affected by the COVID-19 pandemic, with widespread disruptions observed. In 2020, the implementation of lockdown measures resulted in a sudden halt in global aerospace operations, causing a substantial disruption in the supply chain. Consequently, there was a sharp decline in demand for aerospace components.
Segments:
Dominance of Linear Segment Driven by Accuracy and Controllability
By motion, the market is segmented into linear and rotary. Due to its precise control and accuracy, the linear segment was identified as the largest segment in the market and is also predicted to be the fastest-growing segment during the forecast period.
Hydraulic Segment Poised for Dominance with Integrated Redundancy and Overload Protection
By actuator type, the market is divided into hydraulic, pneumatic, electric, electromechanical, and electrohydrostatic. The hydraulic segment expected to dominate the market primarily due to its increasing popularity and numerous advantages that include integrated redundancy in case of failure, overload protection, and the ability to control the surface freely. These features make hydraulic actuators widely used in conventional aircraft.
Rising Demand across Sectors Propels Growth of Fixed-Wing Segment
By platform, the market is segmented by fixed-wing and rotary-wing. The fixed-wing segment is projected to hold the largest market share due to a surge in demand for aircraft in various sectors, including commercial, military, and general aviation.
Growing Demand for Passenger Comfort Drives Rapid Growth of the Segment
By installation, the market is segmented into the flight control system, fuel management system, power generation & transmission system, landing gear & braking system, and others.
The passenger comfort segment will experience the fastest growth during the forecast period. This can be attributed to the rising demand for enhanced comfort, safety, and luxury in air travel, leading to an increased demand for passenger comfort solutions.
Dominance of OEM Segment Driven by Increased Aircraft Deliveries in Developing Economies
The market based on end-user includes Original Equipment Manufacturer (OEM) and aftermarket. The OEM segment is expected to hold the largest market share due to the surge in aircraft deliveries, particularly in developing economies such as China and India. This growth in aircraft deliveries contributes to the dominance of the OEM segment in the market.
From the regional ground, the market is segmented into North America, Asia Pacific, Europe, and the Rest of the World.
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Report Coverage:
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Multiple Benefits of Autonomous Aircraft to Aid Market Growth
Autonomous aircraft offer the potential to achieve higher fuel efficiency, address pilot shortages, and lower operating expenses for airlines. In June 2018, Airbus initiated the Autonomous Taxi, Take-Off & Landing (ATTOL) project, aimed at studying the effects of autonomy on aircraft operations.
The aircraft actuator market growth is being hindered by the time-consuming and lengthy certification process that OEMs must undergo, as they are required to adhere to strict certifications and guidelines.
Regional Insights:
North America Emerges as Leading Market with Focus on Modernized Safety Policies
North America is projected to hold the largest aircraft actuator market share, accounting for 42.9% of the total market. The region is expected to witness significant growth in the forecast period, driven by the increased adoption of modernized safety policies by major airlines in the U.S. and other factors.
Europe is anticipated to experience significant growth in the market due to the rising demand for technology upgrades to enhance the reliability and efficiency of aircraft.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- COVID-Impact 19 Impact on Global Aircraft Actuator Market
- Global Aircraft Actuator Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Motion
- Linear
- Rotary
- Market Analysis, Insights and Forecast – By Actuator Type
- Hydraulic
- Pneumatic
- Electric
- Electromechanical
- Electrohydrostatic
- Market Analysis, Insights and Forecast – By Platform
- Fixed-Wing
- Commercial Aircraft
- Business Aircraft
- Military Aircraft
- General Aviation Aircraft
- Rotary-Wing
- Military Helicopter
- Commercial Helicopter
- Fixed-Wing
- Market Analysis, Insights and Forecast – By Installation
- Power Generation & Distribution System
- Flight Control System
- Fuel Management System
- Landing Gear & Braking System
- Passenger Comfort
- Others
- Market Analysis, Insights and Forecast – By End-User
- OEM
- After Market
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued...!
Competitive Landscape:
Consolidation and Product Excellence Drive Competitive Landscape
The global market is consolidated, with both global and regional players operating in the industry. These players have a diverse range of product offerings and a strong emphasis on delivering high-quality aircraft actuators for superior performance.
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Key Industry Development
- February 2023- ANDAR electromechanical systems, an actuators manufacturer, announced to take part in IDEX 2023, the International Defense Exhibition 2023, taking place in Abu Dhabi where the company is going to present electromagnetic actuators family. The electromagnetic actuators are used in diverse aircraft types such as military actuator, helicopter, and UAVs.
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