Global Aircraft Actuators Market is valued approximately USD 8.53 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.60 % over the forecast period 2020-2027. An Actuator controls the movement and mechanism of the system with an energy source or control signal. The Aircraft actuator consist of a reduction gear used to control and maintain the rotating motion. Actuators in aircraft play a crucial role for control and flight. Actuators are used in weapon systems, landing gear and flaps. They are also used in electromagnetic brakes, manual drives, clutches, load limiters, seat actuation and position feedback for commercial aircraft. Actuators are needed in nearly all systems of an aircraft including oxygen, air system, fuel, water and hydraulic. Increase in order and procurement of aircrafts for both military and commercial purposes drive the market growth. Moreover, factors such as growing urbanization and rapid development of emerging economies are expected to contribute to the industry growth. As with the swelling urbanization the need for air travel increases boosting the Air traffic and number of Airports across the globe. As per the Dubai Air Show report, the Middle-eastern region is home to 87 airlines which operates approximately 1.2 million flights annually and moves 7.2 million tons of freight. Moreover, the IATA has projected that the Middle Eastern will reach 501 million passengers by 2037 and nearly 3000 commercial planes and 64,000 pilots will be needed during the estimated period. However, lLeakage issues in hydraulic and pneumatic actuators impedes the growth of the market over the forecast period of 2020-2027. Although, technological advancements characterized by shifting trend towards electric aircraft presents a lucrative opportunity for the market. For Instance: In January 2020, Honeywell International announced the progress in the development of a new line of electromechanical actuator specifically for Urban Air Mobility.
The regional analysis of global Aircraft Actuators market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing technological advancements in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising population and growing penetration of Air travel would create lucrative growth prospects for the Aircraft Actuators market across Asia-Pacific region.
Major market player included in this report are:
Honeywell International Inc.
Parker Hannifin Corp.
UTC Aerospace Systems
Vishay Intertechnology, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Flight Control System
Health Monitoring System
Power Distribution & Generation System
Landing and Braking System
Fuel Management System
Utility Actuators System
Business & General Aviation
By Wing Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Aircraft Actuators Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers