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Global Aircraft Actuators Market to Grow at a CAGR of 6.20% During 2022-2027, Aided by Rising Demand for Commercial Aircrafts

According to a new report by EMR titled, ‘Global Aircraft Actuators Market Report and Forecast 2022-2027’, the global aircraft actuator market reached a value of USD 14.3 billion in 2021. The market is expected to grow in the forecast period of 2022-2027 at a CAGR of 6.20% to reach USD 20.7 billion by 2027.

The aircraft actuators market is driven by the rising demand for commercial aircrafts, owing to the increasing growth of the aviation industry across the continents. This can be attributed to the rising population, rising standards of living, and thriving travel and tourism industry. However, the emergence of COVID-19 variants is likely to impede the market. The rapid digitalisation and technological advancements in the aircrafts is also anticipated to augment the market.

In terms of region, Asia Pacific is likely to attain a healthy growth in the forecast period, owing to the growing expansion of the major aircraft manufacturers in the region. The rising military expenditure aimed towards bolstering the air capabilities, especially in India and China, is likely to provide impetus to the market. In addition to this, the increasing inclination of people in the emerging economies of the continent towards commuting through air will provide impetus to the market. Moreover, favourable government regulations allowing the penetration of artificial intelligence and electronic equipment in the aircraft segment is likely to boost the market expansion in the region.

In January 2020, Honeywell International Inc. announced the making of brand-new line of electromechanical actuators. These actuators will be aimed towards bolstering urban mobility.

Market Breakup by Type, System, End User, and Region:

  • The market is segmented on the basis of type into linear and rotary.
  • Based on system, the market is divided into hydraulic actuators, electrical actuators, pneumatic actuators, and mechanical actuators.
  • The notable end-users of aircraft actuators include commercial aircraft and military aircraft.
  • Region-wise, the global market for aircraft actuators can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for aircraft actuators is being driven by the thriving aviation industry across the continents.
  • The rising demand for commercial aircrafts, owing to the growing foot fall on airports and thriving travel and tourism industry, is anticipated to augment the market in the forecast period.
  • The increasing inclination towards electric actuators due to achieve greater fuel economy and efficiency is likely to boost the market growth.
  • The market will further be aided by the growing expansion of the major aircraft manufacturers in the emerging economies.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for aircraft actuators the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, systems, end users, and regions of aircraft actuators.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global aircraft actuators market are Honeywell International Inc., Collins Aerospace, Parker-Hannifin Corporation, Moog Inc., and Eaton, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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