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Impact of Escalating Military Expenditure on the Future Expansion of the Military Actuators Market || Curtiss-Wright Corporation, Triumph Group, Moog Inc
Military Actuators Market
The Business Research Company's Military Actuators Global Market Report 2023 the growing military spending is significantly contributing as the major driver for the military actuators market's growth in the forecast period. Military spending refers to money spent by a government to provide weapons, equipment, and soldiers to its military. Military actuators are used to provide motion control provision of torque, and equipment automation for logistics to transport, weapon operation, and other crucial applications in the military sector. The growing military spending of various countries around the world is a key driver of the military actuators market.
The global military actuators market size is expected to grow from $1.33 billion in 2022 to $1.48 billion in 2023 at a compound annual growth rate (CAGR) of 11.10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military actuators market size is expected to reach $2.20 billion in 2027 at a CAGR of 10.42%.
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Major competitors in the military actuators market are Curtiss-Wright Corporation, Triumph Group, Moog Inc., Meggitt plc, Venture Mfg. Co., Parker-Hannifin Corporation, Kyntronics, Nook Industries Inc., Ametek Inc., Ultra Motion.
A key trend in the military actuators market includes product innovation. Major companies operating in the military actuator markets are focusing on making military actuators with better features and greater applications. For instance, in December 2020, UAVOS Inc., a US-based provider of proprietary unmanned aerial, terrestrial, and aquatic vehicle solutions launched new Xservo series of servo actuators. It includes an inbuilt CANopen/EtherCAT motion controller, allowing customers to simplify development by eliminating the need for mechanical and electrical integration of a passive servo actuator with an external controller.
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The military actuators market is segmented -
• By Type: Linear, Rotary
• By Component: Cylinders, Drives, Servo Valves, Manifolds, Other Components
• By System: Hydraulic Actuators, Electrical Actuators, Pneumatic Actuators, Electromechanical Actuators, Other Systems
• By Application: Land, Air, Sea
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the military actuators market
The Business Research Company's "Global Military Actuators Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Military Actuators Market Include:
1. Executive Summary
2. Military Actuators Market Characteristics
3. Military Actuators Market Trends And Strategies
4. Military Actuators Market - Macro Economic Scenario
5. Military Actuators Market Size And Growth
……………
27. Military Actuators Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Military Actuators Market
29. Military Actuators Market Future Outlook And Potential Analysis
30. Appendix
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