Aircraft Actuators Market to Reach US$8.37 Billion by 2022 |...

Aircraft Actuators Market to Reach US$8.37 Billion by 2022

Posted 2023-09-27 09:49:21

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Market Overview:
The global aircraft actuators market is projected to reach a value of US$8.37 billion in 2022, with a compound annual growth rate (CAGR) of 7.11% during the forecast period 2022-2030. Aircraft actuators are essential components that enable the control and movement of various systems in an aircraft, such as landing gear, flight control surfaces, and engine cowlings. These actuators provide efficient and precise control, enhancing the overall performance and safety of the aircraft. The demand for advanced and lightweight actuators has been increasing due to the rising focus on fuel efficiency and aircraft weight reduction. This drives the adoption of innovative technologies in aircraft systems, propelling the growth of the aircraft actuators market.

Market Key Trends:
One key trend driving the aircraft actuators market is the increasing adoption of electric actuators. Electric actuators offer several advantages over hydraulic and pneumatic actuators, including higher energy efficiency, reduced maintenance costs, and improved reliability. Electric actuators also provide better control and enable smoother movement, enhancing the overall aircraft performance. Additionally, the rising demand for electric aircraft, which focus on minimizing environmental impact and reducing operational costs, further drives the adoption of electric actuators. As a result, aircraft manufacturers are increasingly incorporating electric actuators into their systems, contributing to the growth of the aircraft actuators market.
Segment Analysis

The aircraft actuators market can be segmented based on type, application, and aircraft type. By type, the market is dominated by the electric segment, which accounted for the largest market share in 2022. This dominance can be attributed to the increasing adoption of electric actuators in aircraft due to their superior performance, efficiency, and reliability compared to hydraulic and pneumatic actuators. Electric actuators offer precise control and require less maintenance, making them highly preferred by aircraft manufacturers. Additionally, the growing focus on reducing carbon emissions in the aviation industry has further propelled the demand for electric actuators.

Key Takeaways

The global Aircraft Actuators Market Growth is expected to witness high growth, exhibiting a CAGR of 7.11% over the forecast period from 2022 to 2030. This growth can be attributed to several factors. Firstly, the increasing demand for aircraft, driven by the rising air passenger traffic and the expansion of airline fleets, is boosting the demand for aircraft actuators. Additionally, the integration of advanced technologies, such as fly-by-wire and electric actuation systems, in modern aircraft is further fueling market growth.

From a regional perspective, North America is expected to be the fastest-growing and dominating region in the aircraft actuators market. This can be attributed to the presence of major aircraft manufacturers, such as Boeing and Airbus, in the region. The technological advancements and investments in the development of next-generation aircraft are driving the demand for aircraft actuators in North America.

Key players operating in the aircraft actuators market include Heroux-Devtek Inc., Honeywell International Inc., Liebherr-International Deutschland GmbH, Raytheon Technologies Corporation, Nook Industries Inc., Parker Hannifin Corp., Electromech Technologies, Eaton Corporation PLC, Arkwin Industries Inc., Moog Inc., Woodward Inc., Safran SA, and Triumph Group. These key players have a strong market presence and are actively involved in product innovation, collaborations, and acquisitions to gain a competitive edge in the market.