The global aircraft actuators market revenue was around US$ 14.9 billion in 2021 and is estimated to reach US$ 24.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2022 to 2031.
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Aircraft actuators carry out a variety of crucial tasks, including adjusting various flight control surfaces, flaps, rudder, spoilers, slats, and ailerons, extending and retracting landing gear, positioning engine thrust reversers, and inlet guide vanes. It opens and closes cargo or weapon bay doors, among others. Strong vibrations, extreme heat, and extreme cold can all be handled.
Factors Influencing Market Growth
The expansion of commercial aviation operations and rising demand from developing countries. such factors fuel the market growth.
An increase in air travel activity and air traffic as well as an increase in demand for electric actuators create lucrative opportunities in the market.
Due to high aircraft actuator costs, leakage, and maintenance issues are anticipated to hamper the market.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the Government enacted a lockdown, the shutdown of the manufacturing facility, and the late delivery, various aviation actuator suppliers and service providers have experienced a constant decline in revenues across all markets. The demand for airplane actuators is anticipated to follow a similar path and is projected to reach pre-pandemic levels by 2023 as the supply chain interruptions started to fade in 2021 and aircraft deliveries gradually increased to pre-pandemic levels.
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Regional Insights
Asia-Pacific dominated the market in terms of revenue. This is attributed to increasing India and China aviation sector investments and rising demand for commercial aircraft due to increased air traffic. Commercial aviation activities are expanding and growing demand from developing nations. These elements stimulate market expansion.
Leading Competitors
The leading competitors in the global aircraft actuators market are:
AMETEK
Astronics Corporation
Curtiss- Wright
Eaton Corporation
Honeywell International
ITT
Liebherr
Moog Inc
Nabtesco Corporation
Raytheon Technologies Corporation
Saab AB
Safran SA
SITEC Aerospace GmbH
TAMAGAWA SEIKI CO. LTD
Woodward Inc
Others
Segmentation Analysis
The global aircraft actuators market segmentation focuses on Application, End Use, Wing Type, Type, and Region.
Segmentation based on Application
Commercial Aviation
Military Aviation
Business and General Aviation
Unmanned
Segmentation based on End Use
OEM
Aftermarket
Segmentation based on Wing Type
Fixed Wing
Rotary Wing
Segmentation based on Type
Linear
Rotary
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Aircraft Actuators Market Research Report Scenario includes:
>The report provides qualitative and quantitative trends of global Aircraft Actuators Market across type, type of products, service, and geography.
>The report starts with the key takeaways, highlighting the key trends and outlook of the global Aircraft Actuators Market.
>Provides the research methodology of the study.
>Further provides PEST analysis for each region.
>Highlights the key industry dynamics in the Aircraft Actuators Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
>Discusses the global Aircraft Actuators Market scenario, in terms of historical market revenues, and forecast till the year 2031.
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