Global Aircraft Actuator market research 2024, Forecast To 2033
24 Jan, 2024
The aircraft actuator market has witnessed rapid growth, increasing from $16.89 billion in 2023 to $18.6 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period is attributed to robust economic growth, increased demand for commercial aircraft, the expansion of the aerospace and defense industry, stringent environmental regulations, and a demand for quieter and more comfortable aircraft. Looking forward to 2028, the market is expected to maintain strong growth, reaching $26.88 billion at a CAGR of 9.6%. Anticipated drivers include increasing consumer disposable income, investment in aircraft fleet expansion, growing demand for unmanned aerial vehicles (UAVs), and a rising emphasis on fuel efficiency. Major trends encompass electromechanical actuators, health monitoring, and predictive maintenance, advancements in materials, enhanced safety and redundancy, and the adoption of eco-friendly actuation systems.
Global Aircraft Actuator Market Key Driver
The aircraft actuators market is witnessing growth propelled by the increasing passenger traffic across the world. According to the International Air Transport Association (IATA), global passenger traffic in March 2022 increased by 76.0% compared to March 2021. China experienced an 11.7% growth in domestic air traffic in the same period. As air travel continues to rise, the demand for aircraft actuators, crucial for adjusting flight control surfaces, is expected to increase, contributing to the growth of the aircraft actuators market.
Get A Free Sample Of The Global Aircraft Actuator Market ReportGlobal Aircraft Actuator Market Segments
The global aircraft actuator market covered in this report is segmented –
1) By Actuators Type: Hydraulic, Pneumatic, Electric, Electromechanical, Electrohydrostatic
2) By Motion: Linear, Rotary
3) By Platform: Fixed Wing, Rotary Wing
4) By End User: Commercial Aircraft, Military Aircraft, Other End Users
By Geography: The regions covered in the Aircraft Actuator market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the aircraft actuators market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft actuator market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Aircraft Actuator Industry Players
Honeywell International Inc., Eaton Corporation, Moog Inc., Parker Hannifin Corporation, Safran S.A., Meggitt plc, Woodward Inc., Sitec Aerospace GmbH, Progressive Automations Inc., Tamagawa Seiki Co. Ltd., Aero Space Controls Corporation, Beaver Aerospace & Defense Inc., Rockwell Collins Inc., Curtiss-Wright Corporation, Raytheon Technologies Corporation, Liebherr Group, Nabtesco Corporation, SKF Group, Arkwin Industries Inc., ITT Inc., AAR Corporation, GE Aviation Systems LLC, TransDigm Group Incorporated, BAE Systems plc, Héroux-Devtek Inc., Raytheon Technologies Corp., Lufthansa Technik AG, Electromech Technologies LLC, Hemisphere Engineering Inc., United Technologies Corp.
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Aircraft Actuator Market Overview
The aircraft actuators are used to adjust flight control surfaces such as elevators, rudders, ailerons, flaps, slats, and spoilers. Aircraft actuators are mechanical devices that can transfer and divert motion energy from one form to another. In the aviation sector, actuation systems are used in a variety of ways. It is responsible for everything from cargo bay doors and landing gear to engine components and flight control surfaces.
Aircraft Actuator Global Market Report 2023 provides data on the global aircraft actuator market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft actuator market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.