The Aircraft Actuator Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aircraft Actuator Global Market Report 2024, The aircraft actuator market size has grown rapidly in recent years. It will grow from $16.89 billion in 2023 to $18.6 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to strong economic growth, increased demand for commercial aircraft, expansion of the aerospace and defense industry, stringent environmental regulations, demand for quieter and more comfortable aircraft.
The aircraft actuator market size is expected to see strong growth in the next few years. It will grow to $26.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing consumer disposable income, investment in aircraft fleet expansion, growing demand for unmanned aerial vehicles (uavs), rising emphasis on fuel efficiency . Major trends in the forecast period include electromechanical actuators, health monitoring and predictive maintenance, advanced materials, enhanced safety and redundancy, eco-friendly actuation systems.
The increase in passenger traffic across the world is expected to drive the growth of the aircraft actuators market going forward. 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. For instance, according to the International Air Transport Association (IATA), total global passenger traffic in March 2022 increased by 76.0% compared to March 2021. Also, in China, domestic air traffic increased by 11.7% in March 2022. Therefore, the increasing passenger traffic across the world is driving the growth of the aircraft actuator market.
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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
Top Major Players
Honeywell International Inc.
Eaton Corporation
Moog Inc.
Parker Hannifin Corporation
Safran S.A.
Technological advancements have emerged as the key trend gaining popularity in the aircraft actuator market. 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.
The aircraft actuator market report table of contents includes:
1. Executive Summary
2. Aircraft Actuator Market Characteristics
3. Aircraft Actuator Market Trends And Strategies
4. Aircraft Actuator Market - Macro Economic Scenario
5. Global Aircraft Actuator Market Size and Growth
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31. Global Aircraft Actuator Market Competitive Benchmarking
32. Global Aircraft Actuator Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aircraft Actuator Market
34. Aircraft Actuator Market Future Outlook and Potential Analysis
35. Appendix
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The global aircraft actuator market size is projected to reach USD 16.98 billion by the end of 2026.
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.
We understand that this health crisis has brought an unprecedented impact on businesses across industries.
List of leading companies that are operating in the aircraft actuator market include;Eaton Corporation Inc.Honeywell International Inc.Lockheed Martin CorporationMoog Inc.Northrop Grumman CorporationParker Hannifin CorporationRockwell CollinsSaab AB (Sweden)Sitec Aerospace GmbH (Germany)TAMAGAWA SEIKI Co.Ltd.
The massive investments towards the adoption of modern actuators will bode well for the growth of the regional market.
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 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.
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.
The aircraft actuator market 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 report includes several factors that have made an impact on the growth of the market in recent years.
Among all factors, the increasing number of product launches has made a huge impact on the growth of the market in recent times.A few of the leading companies that are operating in the market include:Eaton Corporation Inc. (the U.S.)Honeywell International Inc. (the U.S.)Lockheed Martin Corporation (the U.S.)Moog Inc. (the U.S.)Northrop Grumman Corporation (the U.S.)Parker Hannifin Corporation (the U.S.)Rockwell Collins (the U.S.)Saab AB (Sweden)Sitec Aerospace GmbH (Germany)TAMAGAWA SEIKI Co.Ltd.
(Japan)The Boeing Company (the U.S.)Woodward Inc. (the U.S.)
