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Aircraft Actuator Market Growth to be Driven by Emerging Trends | $28.02 Billion by 2029
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.What is the Projected Market Size of the Aircraft Actuator Industry?
In the last few years, the aircraft actuator market has seen substantial growth. Estimates project that it will increase from a value of $18.23 billion in 2024 to $19.92 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.2%. This historic period growth is credited to a robust economy, heightened demands for commercial aircraft, the expansion of the aerospace and defense sectors, strict environmental rules, and the increasing demand for quieter, more comfortable airplanes.
What Will Be the Size of the Aircraft Actuator Market by 2029?
The market size for aircraft actuators is predicted to witness significant expansion in the coming years, escalating to a value of $28.02 billion in 2029 with an 8.9% compound annual growth rate (CAGR). The surge during this forecast period can be credited to factors such as the rise in consumer disposable income, investments made towards expanding the aircraft fleet, increased demand for unmanned aerial vehicles (uavs), and a heightened focus on fuel efficiency. The forecast period is also expected to see trends like electromechanical actuators, health surveillance and predictive upkeep, advanced materials, improved safety and redundancy, and environmentally friendly actuation systems.
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What Are the Key Drivers Accelerating Growth in the Aircraft Actuator Market?
The surge in global passenger traffic is anticipated to propel the expansion of the aircraft actuators market. Aircraft actuators, which are employed for various functions like modifying flight control surfaces like the elevator, rudder, and ailerons, are seeing increased demand. This is due to the sustained economic progression and heightened consumer expenditure from people in emerging countries, which has strengthened air passenger traffic and, consequently, the growth of aircraft actuators. As an example, data from the International Air Transport Association (IATA) shows that total worldwide passenger traffic experienced a 76.0% rise in March 2022 compared to the same month the previous year. In addition, domestic air travel in China saw an 11.7% increase in March 2022. As a result, the escalating passenger traffic globally continues to fuel the expansion of the aircraft actuator market.
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How Is the Aircraft Actuator Market Segmented by Type, Application, and Region?
The aircraft actuator market covered in this report is segmented -
1) By Actuators Type: Hydraulic, Pneumatic, Electric, Electromechanical, Electrohydrostatic
2) By Motion: Linear, Rotary
3) By Platform: Fixed Wing, Rotary Wing
4) By End User: Commercial Aircraft, Military Aircraft, Other End Users
Subsegments:
1) By Hydraulic Actuators: Linear Hydraulic Actuators, Rotary Hydraulic Actuators, Hydraulic Servo Actuators
2) By Pneumatic Actuators: Linear Pneumatic Actuators, Rotary Pneumatic Actuators, Pneumatic Cylinder Actuators
3) By Electric Actuators: Brushless DC Electric Actuators, Stepper Electric Actuators, AC Electric Actuators
4) By Electromechanical Actuators: DC Gear Motor Actuators, Linear Actuators with Gear Mechanism, Electric Actuators with Feedback Control
5) By Electrohydrostatic Actuators: Direct Drive Electrohydrostatic Actuators, Integrated Electrohydrostatic Actuators
What Are the Key Trends Driving Growth in the Aircraft Actuator Market?
The rise of technological advancements is a key trend being observed in the aircraft actuator industry. The main players in the market are striving to create innovative, technologically advanced products to solidify their standing. For instance, in July 2022, Airbus UpNext selected Curtiss-Wright Corporation, an aviation firm based in the US, to provide bespoke electromechanical actuation (EMA) technology for the eXtra performance WING demonstrator project. The main objective of this project is to bolster decarbonization and efficiency in the next generation of aircraft. The EMA technology offers considerable benefits such as improved reliability, increased energy efficiency, and lighter weight. These attributes are critical for the advancement of more sustainable aviation solutions.
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Who Are the Leading Companies Driving Growth in the Aircraft Actuator Market?
Major companies operating in the aircraft actuator market include Honeywell International Inc., Eaton Corporation, Moog Inc., Parker Hannifin Corporation, Safran S.A., Meggitt plc, Woodward Inc., Sitec Aerospace GmbH, Progressive Automations Inc., Tamagawa Seiki Co. Ltd., Aero Space Controls Corporation, Beaver Aerospace & Defense Inc., Rockwell Collins Inc., Curtiss-Wright Corporation, Raytheon Technologies Corporation, Liebherr Group, Nabtesco Corporation, SKF Group, Arkwin Industries Inc., ITT Inc., AAR Corporation, GE Aviation Systems LLC, TransDigm Group Incorporated, BAE Systems plc, Héroux-Devtek Inc., Raytheon Technologies Corp., Lufthansa Technik AG, Electromech Technologies LLC, Hemisphere Engineering Inc., United Technologies Corp.
Which Is the Leading Region in the Global Aircraft Actuator Market?
North America was the largest region in the aircraft actuators market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft actuator market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Table of Contents
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1 Micro Actuator Market Overview
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