Global Aircraft Actuator Market Overview 2024: Size, Growth Rate, and Segments
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The aircraft actuator global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Aircraft Actuator Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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.
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Scope Of Aircraft Actuator Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Aircraft Actuator Market Overview
Market Drivers –
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.
Market Trends –
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 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
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Regional Insights –
North America was the largest region in the aircraft actuators market in 2023. 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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Aircraft Actuator Market Report Structure
3. Aircraft Actuator Market Trends And Strategies
4. Aircraft Actuator Market – Macro Economic Scenario
5. Aircraft Actuator Market Size And Growth
…..
27. Aircraft Actuator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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