Growth opportunities in the Aircraft Actuators Market look promising over the next six years. This is mainly due to the continuous expansion in government initiatives to expand defence & military aircraft and their increasing adoption owing to the benefits imparted by them.
Aircraft Actuators Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The drivers augmenting the growth of the global aircraft actuator market includes the surging investment by government bodies for the expansion of military and defense aircrafts for reinforcing the country and the propelling demand for commercial aircrafts led by the accelerating number of passengers. In accordance with the report published by the Stockholm International Peace Research Institute (SIPRI) Organization Report, the overall disbursement by military expenditure touched USD 1917 billion due to raised demand for military aircraft and rising demand for homeland safety.
Also, the increasing sale of commercialized aircraft owing to the augmentation in aircraft passengers coupled with the mounting tourism throughout the world has strengthened the market size. As per the International Air Transport Association, in 2020, 960 new aircrafts were scheduled for delivery, which moderately contacted due to the coronavirus pandemic.
Additionally, the increasing inclination towards the acquisition of electromechanical actuators (EMAs) for aircraft operations due to their remarkable features including lower fuel burn, better system flexibility, less maintenance cost, and improvement in the management of isolation and fault detection is fuelling the market growth. Several prominent market players are adopting measures which includes partnership, amalgamations, unions, and mergers to invent new electromechanical actuators for aircraft that prompted the market growth. For example, in 2019, Safran accomplished the attainment of electromechanical systems business of Collins Aerospace to help diversify its product portfolio in the pilot control and actuators applications.
However, the growing apprehension concerned with the leakages of oil and excessive noise issues from pneumatic and hydraulic actuators may hamper the market growth. The insertion of these actuators demands huge maintenance cost as it inculcates various components like dryers, electric and fluid pump, compressors, air filters, lube tubes, and regulations, which might further constrain the aircraft actuator market share.
Technology Segment Drivers
Based on the technology, pneumatic is predicted to dominate the market over the forecast period. This is attributed to the requirement of low maintenance and high durability than other actuator technology.
Aircraft Actuators Market’s leading Manufacturers:
- Transdigm Group, Inc
- NOOK Industries, Inc
- UTC Aerospace Systems
- Honeywell International Inc.
- Meggit Plc
- Woodward, Inc
- Curtiss-Wright
- Parker Aerospace
- Moog
- Eaton
- Rockwell Collins
Aircraft Actuators Market Segmentation:
Segmentation by Type
- Linear
- Rotary
Segmentation by Technology
- Electric
- Hydraulic
- Pneumatic
- Mechanical
Segmentation by End-User
- Military Aircraft
- Commercial Aircraft
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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