Aircraft Actuator Market 2024 | Analysis, Regional Outlook, Current Trends, Market Share & Forecast To 2033

 

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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