Newark, NJ, Jan. 28, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global aircraft actuators market is expected to grow from USD 8.65 billion in 2019 and to reach USD 17.41 billion by 2027, growing at a CAGR of 9.14% during the forecast period 2020-2027.
Aircraft OEMs have begun collaborating with suppliers due to More Electric Aircraft (MEA). The collaboration is to execute innovative methods that involve establishing distinct electrically-intensive structures. The electric aircraft allows sufficient usage of electrical energy in traditional systems. The need for aircraft actuators is rising due to electric aircraft's substantial potential for minimized operational expenses by decreasing maintenance charges, improved aircraft dependability, fuel-efficient motors, and decreasing aircraft weight.
Aircraft actuators are largely utilized for commercial aircraft in-seat actuation, manual drives, load limiters, clutches, electromagnetic brakes, landing gears, position feedback and flight control. Actuators limit and control motor speed and acceleration by controlling valves and levers. In an emergency, valves prevent the movement of a medium that ensures the safety of the aircraft. A humidification system valve consistently moistens the clean air in an aviation body. The rise in the global population, improvement in technology and the growing demand for civilian aircraft is anticipated to drive the global aircraft actuator market over the forecast period. Further, rising globalization and the speedy growth of emerging nations are expected to encourage the market's growth. There is an increased demand for technological improvements owing to shifting consumer preferences towards electric aircraft. It is anticipated to drive the growth of the market. It is done by replacing hydraulic and pneumatic actuators with electrical actuators. The electric aircraft is known as More Electric Aircraft (MEA). It reduces the weight of the body and increases efficiency. Moreover, it encourages the growth of the market as well as enhanced control over the aircraft.
Internet of Things allows the transfer of data in the interface while involving several devices such as actuators and sensors. The Internet of Things has entered the actuators market, enabling the compilation of various actuators with different abilities to create a system. Actuators are useful in communicating in the interface in order to complete various types of jobs which are not feasible for individual actuator. Internet of Things in aeronautics allows various opportunities in order to improve mechanization and operational effectiveness across multiple terminal services. The untapped advantages of the Internet of Things in enhancing operational productivity have expanded the range of Internet of Things in the aeronautics business.
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Key players operating in the global aircraft actuators market include Moog, Rockwell Collins, AMETEK, Safran, Honeywell, UTC Aerospace Systems, Parker Aerospace and Woodward Inc. To gain a significant market share in the global aircraft actuators market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The electric actuators segment is anticipated to show the highest share over the forecast period
The product segment includes electric actuators, hydraulic actuators, pneumatic actuators, mechanical actuators. The electric actuators segment is expected to register the highest share over the forecast period. Improvements in the technology of electric actuators like developments in electromagnetic patterns, productivity, robustness and permanent magnet material are anticipated to boost the requirement for electric actuators over the forecast period. Improvements in electric actuators produce extended power frequency while providing excellent representation in various purposes at a decreased price. Further, the weight of the electric actuators is lower in comparison with pneumatic and hydraulic equivalents. The reduced stress that reduces the flight control system's power loss also improves electric actuators' attractiveness. Therefore, electrical systems are frequently replacing hydraulic and mechanical arrangements. Moreover, hydraulic actuators are gradually substituted due to their massive weight, underperformance, growing concerns because of the vulnerability of safety problems, and expensive maintenance demands.
The narrow body segment is expected to show the highest share over the forecast period
The type segment includes enormous aircraft, wide-body aircraft, narrow-body aircraft. The narrow body segment is expected to show the highest share over the forecast period. It is due to a rise in overseas education, migration, and disposable income. Owing to this, the market is anticipated to show an increase in air traffic as well as business aircraft.
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Regional Segment Analysis of The Aircraft Actuators Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global aircraft actuators market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America held the highest share of 25.33% in the global aircraft actuators market in 2019 and is also anticipated to show the highest share over the forecast period. Key manufacturers have high product penetration of huge aircraft actuator in the region. Key manufacturers such as Collins Aerospace, AMETEK, Honeywell International Inc., Woodward Inc. and Moog have a huge presence in North America. In order to increase product penetration in the region, key players are highly emphasizing on investing a huge amount in research & development. This has been done in order to improve dependability and productivity of aircraft actuators. Manufacturers are also emphasizing on improving technologies for aircraft actuators like digital fly-by-wire and electric aircraft systems.
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About the report:
The global aircraft actuators market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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