The aircraft actuator market was valued at US$ 7,700. 33 million in 2019 and is projected to reach US$ 11,631. 67 million by 2027; it is expected to grow at a CAGR of 6. 6% from 2020 to 2027. Growing investments by governments as well as private and public companies in strengthening their aircraft fleet is boosting the growth of the aircraft actuator market.
New York, April 07, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Actuator Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, System, and End User" - https://www.reportlinker.com/p06027519/?utm_source=GNW
Besides, the emergence of electric aircraft and UAVs are creating opportunities for the actuator manufacturers to design efficient and lightweight actuation systems to meet their requirements. For instance, in December 2020, Curtiss-Wright, an electronic component manufacturing company received an order to provide a primary flight control actuation technology for Alice, all-electric commuter aircraft. The company is offering commercial-off-the-shelf (COTS) EMA’s design that is lighter and cost-effective, and reduces the program risk. Also, Iowa State University and North-western Polytechnical University developed a new plasma actuator for all-electric aircraft to keep them ice-free and allow them to fly above 35,000 feet. Thus, increasing demands for lightweight actuation systems from the aircraft manufacturers is boosting the growth of the aircraft actuator market.
Amid the COVID-19 pandemic, the entire commercial aviation industry came to halt with minimal resources to foresee the future.Several production units in the US, France, Russia, and China were temporarily paused to adhere to the government regulations related to lockdown and physical distancing.
The aircraft manufacturers witnessed 30–50% reduction in demand for most of their aircraft models, especially for the commercial aircraft models. The decreased aircraft production and assembly activities have decimated the demand for aircraft actuators.
The aircraft actuator market is segmented on the basis of type, system, and end user.On the basis of type, the market is segmented into linear and rotary.
The linear segment held largest larger market share in 2019.The aircraft actuator market, by system, is segmented into hydraulic actuators, electrical actuators, mechanical actuators, and pneumatic actuators.
In 2019, the hydraulic actuators segment held the largest market share.Based on end user, the aircraft actuator market is segmented into commercial aircraft and military aircraft.
The commercial aircraft segment held the largest share of the market in 2019.
The overall aircraft actuator market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast of the aircraft actuator market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, APAC, the MEA, and SAM.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic.The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the aircraft actuator market.
A few major players operating in the market are Collins Aerospace; Eaton; Curtiss-Wright; Honeywell International Inc.; Meggit Plc.; Moog Inc.; NOOK Industries, Inc.; PARKER HANNIFIN CORP; Transdigm Group, Inc; and Woodward, Inc.
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