Dublin, March 08, 2021 (GLOBE NEWSWIRE) -- The "Aircraft Actuator Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, System, and End User" report has been added to ResearchAndMarkets.com's offering.
According to this report the global aircraft actuator market was valued at US$ 7,700.33 million in 2019 and is projected to reach US$ 11,631.67 million by 2027; it is expected to grow at a CAGR of 6.6% from 2020 to 2027.
The aircraft actuator industry is continuously evolving with innovations to provide smaller, lighter, and cost-effective actuation systems. The rising demand for electromechanical actuators to enhance the actuation processes is propelling the market growth. An advent of electric aircraft is creating a new opportunities for the market players to focus on developing lighter, smaller, and efficient aircraft actuators. Further, increasing demand for small and narrow-body aircraft fleet from developing and developed nations propels the market growth. As the new electric actuators perform faster operations with minimal maintenance cost, major companies are selecting these products over hydraulic and pneumatic. The aircraft manufacturers are installing electronic flight control systems to improve control, which promotes the actuator manufacturers to design efficient and compact solutions to meet customer requirements.
The aviation industry is experiencing declining growth in North America, Asia, and Europe owing to the COVID-19 pandemic, as majority of the flights are suspended for longer period. Thus, the demand for actuators is lowering with delayed delivery and postponed expansion of aircraft fleet in various countries. Increasing volume of commercial and military aircraft in global market owing to rising number of passengers is prominently driving the market growth during the forecast period.
By region, in 2019, followed by Europe and Asia Pacific. Further, the market in Europe is projected to witness the highest CAGR during the forecast period. The aircraft actuators market is segmented on the basis of type, system, and end user, and geography. Based on type, the market is bifurcated into linear and rotary. The linear segment represented a larger share of the overall market in 2019. On the basis of system, the market is further segmented into hydraulic actuators, electrical actuators, mechanical actuators, and pneumatic actuators. In 2019, the hydraulic actuators segment accounted for a substantial share in the global aircraft actuators market. Based on end user, the market is segmented into commercial aircraft and military aircraft. The commercial aircraft segment accounted for a larger share of the overall market in 2019.
Impact of COVID-19 Pandemic on Aircraft Actuators Market
Amid the COVID-19 pandemic, the entire commercial aviation industry came to halt with minimal resources to foresee the future. Several production units in the US, France, Russia, and China were temporarily paused to adhere to the government regulations related to lockdown and physical distancing. The aircraft manufacturers witnessed 30-50% reduction in demand for most of their aircraft models, especially for the commercial aircraft models. The decreased aircraft production and assembly activities have decimated the demand for aircraft actuators. The business aviation sector also experienced turmoil throughout 2020 due to the lowered business jet deliveries and reduced demand for turbo-prop and rotary helicopters.
Thus, the entire aircraft manufacturing sector observed severe downfall in demand, which reflected less than usual annual growth rate in revenue generation trend. The business aviation and general aviation aircraft manufacturers were witnessing substantial demand for their products, however, the trend turned upside down in 2020, as the demand for used aircraft model grew among the users, which led the aircraft manufacturers experience fall in demand for newer aircraft models. This has restricted the manufacturers to procure actuators and other systems and technologies for newer aircraft models, thereby hampering the revenue generation of the aircraft actuators market players.
Collins Aerospace, a Raytheon Technologies Corporation 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 the major companies operating in the aircraft actuators market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aircraft actuators market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global aircraft actuators market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Aircraft Actuators Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. Aircraft Actuators Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Use of Electrotechnical Actuators
5.1.2 Accentuating Aircraft Order and Delivery Volumes
5.2 Market Restraints
5.2.1 Boeing's Setback from B737 Max and Discontinuation of A380 Program
5.3 Market Opportunities
5.3.1 Rising Demand for Narrow-body and Small Aircraft
5.4 Future Trends
5.4.1 New Technologies: Plasma Actuators, Electric Aircraft Actuators, and VTOL Actuators
5.5 Impact Analysis of Drivers and Restraints
6. Aircraft Actuators - Global Market Analysis
6.1 Overview
6.2 Aircraft Actuators Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players Ranking
7. Aircraft Actuators Market Analysis - By Type
7.1 Overview
7.2 Aircraft Actuators Market, By Type (2019 and 2027)
7.3 Linear
7.3.1 Overview
7.3.2 Linear: Aircraft Actuators Market -Revenue and Forecast to 2027 (US$ Million)
7.4 Rotary
7.4.1 Overview
7.4.2 Rotary: Aircraft Actuators Market -Revenue and Forecast to 2027 (US$ Million)
8. Aircraft Actuators Market Analysis - By System
8.1 Overview
8.2 Aircraft Actuators Market, By System (2019 and 2027)
8.3 Hydraulic Actuators
8.3.1 Overview
8.3.2 Hydraulic Actuators: Aircraft Actuators Market - Revenue and Forecast to 2027 (US$ Million)
8.4 Electrical Actuators
8.4.1 Overview
8.4.2 Electrical Actuators: Aircraft Actuators Market - Revenue and Forecast to 2027 (US$ Million)
8.5 Mechanical Actuators
8.5.1 Overview
8.5.2 Mechanical Actuators: Aircraft Actuators Market - Revenue and Forecast to 2027 (US$ Million)
8.6 Pneumatic Actuators
8.6.1 Overview
8.6.2 Pneumatic Actuators: Aircraft Actuators Market - Revenue and Forecast to 2027 (US$ Million)
9. Aircraft Actuators Market Analysis - By End User
9.1 Overview
9.2 Aircraft Actuators Market, By End User (2019 and 2027)
9.3 Commercial Aircraft
9.3.1 Overview
9.3.2 Commercial Aircraft: Aircraft Actuators Market -Revenue and Forecast to 2027 (US$ Million)
9.4 Military Aircraft
9.4.1 Overview
9.4.2 Military Aircraft: Aircraft Actuators Market -Revenue and Forecast to 2027 (US$ Million)
10. Aircraft Actuators Market - Geographic Analysis
10.1 Overview
10.2 North America: Aircraft Actuators Market
10.3 Europe: Aircraft Actuators Market
10.4 APAC: Aircraft Actuators Market
10.5 MEA: Aircraft Actuators Market
10.6 SAM: Aircraft Actuators Market
11. Aircraft Actuators Market - COVID-19 Impact Analysis
11.1 Impact of COVID-19 Pandemic on Global Aircraft Actuators Market
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.1.5 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Collins Aerospace, a Raytheon Technologies Corporation Company
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Curtiss-Wright Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Eaton Corporation plc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Honeywell International Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Meggitt PLC
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Moog Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Nook Industries, Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Parker-Hannifin Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 TransDigm Group Incorporated
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Woodward, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index
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