Aircraft Actuator Market Size to Reach USD 16.98 Billion by 2026

The global aircraft actuator market size is projected to reach USD 16.98 billion by the end of 2026. Recent technological advancements have played a huge part in the growth of the market in recent years. According to a report by Fortune Business Insights, titled "Aircraft Actuator Market Size, Share and Global Trend By Motion (Linear, Rotary), By Actuator Type (Hydraulic, Pneumatic, Electric, Electromechanical, Electrohydrostatic), By Platform (Fixed-Wing, Rotary-Wing), By Installation (Power Generation & Distribution System, Flight Control System, Fuel Management System, Landing Gear & Braking System, Passenger Comfort, and others), and Geography Forecast till 2026," the market was worth USD 14.85 billion in 2018 and will exhibit a CAGR of 3.12% during the forecast period, 2019-2026.

An actuator is a system that is used for controlling the movement functions of an aircraft. The product regulates the motion and flow of the aircraft; an integral function as far as the operation of the system is concerned.

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The high investments towards the development of efficient actuators, driven by the demand for efficient and faster products, will have a positive impact on the growth of the market in the coming years. As a result there have been numerous technological advancements in actuators. The increasing demand for technologically advanced systems have led to improved product efficacies and ultimately increased the demand for the product across the world.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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List of leading companies that are operating in the aircraft actuator market include;

Eaton Corporation Inc.
Honeywell International Inc.
Lockheed Martin Corporation
Moog Inc.
Northrop Grumman Corporation
Parker Hannifin Corporation
Rockwell Collins
Saab AB (Sweden)
Sitec Aerospace GmbH (Germany)
TAMAGAWA SEIKI Co.Ltd. (Japan)
The Boeing Company
Woodward Inc.
Increasing Number of Product Launches Will Aid Growth

The report includes several factors that have made an impact on the growth of the market in recent years. It discusses a few of the major industry developments of recent times. Among all factors, the increasing number of product launches has made a huge impact on the growth of the market in recent times. The emphasis on the adoption of technologically advanced products has compelled companies to introduce newer products at a rapid pace. Due to the accuracy and precision involved in aircraft operations, it is necessary to adopt products with the highest efficiency. The increasing number of technological advancements will help companies generate substantial aircraft actuators market revenue in the coming years

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