The aircraft actuators market in North America is expected to grow from US$ 2872. 44 million in 2020 to US$ 4303. 50 million by 2027; it is estimated to grow at a CAGR of 5. 9% from 2020 to 2027. Accentuating aircraft order and delivery volumes is also bolstering the growth of the industry.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Aircraft Actuators Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, System, and End User" - https://www.reportlinker.com/p06103245/?utm_source=GNW
The aviation industry is maturing at a rapid rate over the years, recording a significant number of production and deliveries of aircraft (commercial and military) fleet. The commercial aviation industry is on a tremendous rise over the past few years with the emergence of low-cost carriers (LCCs) and expansion strategies of fleet adopted by the full-service carriers (FSCs). These two factors have showcased massive order volumes on various commercial aircraft manufacturers across the world. Commercial aviation is foreseen to surge in the coming years with an increase in air travel passengers and aircraft volumes. This factor is anticipated to drive the aircraft production, thereby boosting the aircraft actuators market. Airbus and Boeing are the two aircraft manufacturing giants with significantly higher volumes of orders and delivery statistics. These two aircraft original equipment manufacturers (OEMs) are continuously encountering increased orders for various aircraft models from different civil airlines., which is further driving the demand.
The US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions across the country.The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders during Q2 and Q3.
Most of the manufacturing plants either were temporarily shut or operated with minimum staff; the aircraft OEMs and aircraft components and associated product manufacturers witnessed disruption in supply chain; these are some of the North American countries’ critical issues.Since the US has a larger density of aircraft manufacturers and aircraft associated technology and system manufacturers, followed by Canada and Mexico.
The outbreak of the virus has severely affected the production of each.The lower number of manufacturing staff has resulted in lesser production quantity.
From the aircraft OEM’s perspective, Boeing, the aviation giant in the region, has witnessed a significant fall in orders and production, which is one of the key restraining factors for the aircraft actuators market. Apart from Boeing, several other aircraft OEMs such as Bombardier, Textron, and Gulfstream, among others, also experienced tremors of COVID – 19 on their orders and production lines. From the supply side, the region has higher numbers of aircraft actuators market players. The restricted workforce, disruption in the supply chain, and limited volumes of orders have sternly shaken the aircraft actuators market players in the region. Due to COVID-19 pandemic impact, in September 2020, Airbus and Boeing delivered 57 commercial jets as compared to 71 deliveries, respectively, in the same month last year. In 2020, Boeing delivered 98, as compared to 204 shipments in the last year. The North American, aircraft manufacturing has been shattered by the momentary shutdown of aviation industry, which has been reflecting severely less demand for various types of systems and technologies including actuation system. Owing to this, the aircraft actuators market players have been witnessing noteworthy less demand; however, as the unlock measures started and airlines resumed their operations, the procurement rate of aircraft actuators begun to up rise at a slow pace.
The Linear segment led the aircraft actuators market based on type in 2019.Linear actuators convert energy into linear motion to move a component or a mechanism of an aircraft.
The benefits of linear actuators—such as reliability, smaller size, cost efficiency, and simple structure—make them the most preferred solution in the aircraft industry.Linear actuators are used to control devices and mechanism in aircraft—such as trims, air inlets, doors, flaps, and other movable components.
Flexibility offered by linear actuators in terms of power and control is increasing their contribution in aeronautic control systems.Market players are developing new linear electromechanical actuators to improve the operational performance of control systems.
For instance, in September 2019, NPO Elektropribor-Voronezh, a Russian company, introduced its new electromechanical linear actuator at the MAKS-2019 international airspace show. The company developed this actuator to control elevators more effectively. Development of electromechanical linear actuators to improve aircraft control systems is boosting the growth of the segment and opening new opportunities for aircraft control systems, which is ultimately drives the aircraft actuators market.
The overall North America aircraft actuators 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 overview and forecast for the North America aircraft actuators market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a 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 North America aircraft actuators market. Collins Aerospace; Raytheon Technologies Company; Curtiss-Wright Corporation; Eaton Corporation plc, Honeywell International Inc; Meggitt PLC, Moog Inc.; Nook Industries, Inc; Parker-Hannifin Corporation; TransDigm Group Incorporated; and Woodward, Inc are among a few players operating in the North America aircraft actuators market.
Read the full report: https://www.reportlinker.com/p06103245/?utm_source=GNW
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