Press Release
Press Release
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.
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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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