Military Actuators Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region

"The Business Research Company recently released a comprehensive report on the Global Military Actuators Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The military actuators market size has grown rapidly in recent years. It will grow from $1.48 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to aerospace and defense investments, advancements in weapon systems, automation in military machinery, naval systems integration, expansion of unmanned systems.

The military actuators market size is expected to see rapid growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to modernization of defense systems, increase in unmanned systems, rise in cybersecurity concerns, shift towards smart actuators, advancements in robotics. Major trends in the forecast period include adaptation to harsh environments, rise in robotics and autonomous systems, emphasis on stealth and low noise, increased reliability and redundancy, adoption of smart actuators.

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Market Drivers and Trends:

The growing military spending is significantly contributing to the growth of the military actuators market going forward. 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. For instance, according to the April 2022 data released by the Stockholm International Peace Research Institute (SIPRI), a Sweden-based government institute that provides information, analysis, and suggestions regarding armed conflict, military spending, the arms trade, disarmament, and arms control, the worldwide military expenditure increased by 0.7% in real terms in 2021, to reach $2,113 billion. Therefore, the growing military spending will drive the military actuators market.

Major companies in the military actuators market are focusing on developing precision motion controls, such as industrial electromechanical actuators, to drive their revenues in the market. An industrial electromechanical actuator is a device that transforms electrical energy into mechanical movement, commonly used in industrial applications for precision motion control and automation. For instance, in October 2021, Curtiss-Wright, a US-based provider of engineered products and services, launched the Exlar SA-R080 rotary and SA-L080 linear actuator, the first frame size (80 mm) in its industrial electromechanical actuator series. The SA-080 series boasts integral power and control electronics, a rear manual drive for emergency operation, a magnetic absolute encoder, corrosion-resistant epoxy housing, and a high-pressure seal for ingress protection. Tested to MIL-STD-810G, it ensures environmental protection, corrosion resistance, vibration resilience, and dust or sand ingress prevention. With communication protocols such as RS-232 and CANopen, along with SIL 3, Category 3 Safe Torque Off, and versatile control I/O, the SA series is suitable for defense, industrial, and commercial applications requiring precision motion control in harsh environments.

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Major Key Players of the Market:

Curtiss-Wright Corporation; Triumph Group Inc.; Moog Inc.; Meggitt plc; Venture Manufacturing Company; Parker Hannifin Corporation; Kyntronics Inc.; Nook Industries Inc.; AMETEK Inc.; Ultra Motion; Elektro-Metall Export GmbH; Honeywell International Inc.; Safran S.A.; Arkwin Industries Inc.; Hunt Valve Company; Raytheon Technologies Corporation; Creative Motion Control; AUMA Riester GmbH & Co. KG; Liebherr-International Deutschland GmbH; Cobham Limited; Woodward Inc.; Danaher Motion; Eaton Corporation plc; ElectroCraft Inc.; GE Aviation; General Dynamics Corporation; HITTICO Lincoln; ITT Enidine Inc.; Kollmorgen Corporation; Lord Corporation; MTS Systems Corporation; Nidec Corporation

Military Actuators Market 2024 Key Insights:

• The military actuators market size will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Growing Military Spending Propels Military Actuators Market
• Precision Motion Control For Military Actuator Market
• North America was the largest region in the military actuators market in 2023

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