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Aircraft Actuator Market Analysis, Trends, Growth, Research And Forecast 2032
Aircraft Actuator Market
The Business Research Company's Aircraft Actuator Global Market Report 2023 identifies the increase in passenger traffic across the world as the major driver for the aircraft actuatormarket's growth in the forecast period. Aircraft actuators are used to perform numerous functions, such as adjusting flight control surfaces such as the elevator, rudder, and ailerons, among others. Due to continued economic growth and rising consumer spending, people from developing countries are increasing air passenger traffic, which is driving the growth of aircraft actuators.
The global aircraft actuators market size grew from $15.12 billion in 2022 to $16.74 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. 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 aircraft actuators market size is expected to grow to $22.66 billion in 2027 at a CAGR of 7.9%.
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Major competitors in the aircraft actuator market are Honeywell International Inc., Eaton, Moog Inc., Parker Hannifin Corp., Safran, Meggit PLC, Woodward Inc., Sitec Aerospace GmbH, Progressive Automation Inc., Tamagawa Seiki Co., Ltd., Aero Space Controls Corporation, Beaver Aerospace & Defense Inc.
A key trend in the aircraft actuator market includes technological advancement. Major companies operating in the aircraft actuators market are focused on developing technologically advanced products to strengthen their market position. For instance, in June 2021, Curtiss-Wright Corporation, a US-based aviation company, delivered the primary flight control actuators and control electronics to Eviation Aircraft for the all-electric Alice aircraft. The new Curtiss-Wright high-power density electromechanical actuators (EMA) provide Eviation with a modular, distributed solution that enables a flexible control architecture. Curtiss-Wright's electromechanical actuation (EMA) technology helps speed the development of all-electric regional commuter aircraft and reduces the risk. For a wide range of aviation applications, including flight controls, landing gear, and utility actuation, EMA technology offers significant advantages over traditional hydraulic techniques, such as enhanced dependability, improved energy economy, and decreased weight.
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The aircraft actuator market is segmented -
• By Actuators Type: Hydraulic, Pneumatic, Electric, Electromechanical, Electrohydrostatic
• By Motion: Linear, Rotary
• By Platform: Fixed Wing, Rotary Wing
• By End User: Commercial Aircraft, Military Aircraft, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the aircraft actuator market.
The Business Research Company's "Global Aircraft Actuator 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 Aircraft Actuator Market Include:
1. Executive Summary
2. Aircraft Actuator Market Characteristics
3. Aircraft Actuator Market Trends And Strategies
4. Aircraft Actuator Forwarding Market - Macro Economic Scenario
5. Aircraft Actuator Market Size And Growth
……
26. Africa Aircraft Actuator Market
27. Aircraft Actuator Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aircraft Actuator Market
29. Aircraft Actuator Market Future Outlook and Potential Analysis
30. Appendix
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