Hyderabad, Aug. 17, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Aircraft Actuators Market Report (2023-2028)," the market is estimated at USD 8.77 billion in 2023. It is expected to register a CAGR of 7.44% during the forecast period.
Actuators installed on an aircraft help in various functions like adjusting the flight control surfaces like flaps, rudders, slats, and spoilers, retracting and extending the landing gear, and opening and closing the cargo or the weapon bay door.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 8.77 billion |
| Market Size (2028) | USD 12.56 billion |
| CAGR (2023-2028) | 7.44% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The expansion of air transportation services. |
| The growing number of commercial aircraft fleets. |
Who are the Top Companies in the Aircraft Actuators Market?
The market is highly fragmented and consists of several players offering actuation systems for various aircraft programs. The companies are developing and innovating new products to gain new market opportunities.
Significant players in the aircraft actuators market are,
- Honeywell International Inc.
- Raytheon Technologies Corporation
- Parker Hannifin Corporation
- Eaton Corporation PLC
- Moog Inc.
- Safran SA
- Triumph Group
- Woodward Inc.
- Arkwin Industries Inc.
- Electromech Technologies (TransDigm Group)
- Nook Industries Inc.
- Liebherr-International Deutschland GmbH
- Beaver Aerospace & Defense Inc.
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Key Highlights from the Aircraft Actuators Market Report:
Linear Actuators to Register Highest Growth
- Electric linear actuators provide maximum precision compared to hydraulic and pneumatic actuators. Linear actuators can be scalable for various requirements in the force.
- With the increasing production of commercial and defense aircraft, aircraft manufacturing companies prefer linear actuators due to their benefits.
Asia-Pacific to Show Maximum Growth
- The Asia-Pacific region is expected to register the highest market growth due to the growing investment from India and China in the aviation sector and the demand for commercial aircraft due to the expanding air traffic.
- India is also upgrading its existing military capabilities. The country’s military budget is the third largest worldwide after the United States and China.
What are the Latest Developments in the Aircraft Actuators Market?
- In July 2022, Hanwha Aerospace Co. Ltd established a JV with Vertical Aerospace to test, design, manufacture, and supply electromechanical actuators for Vertical VX4 electric aircraft.
- In January 2022, Moog began offering electromechanical actuators for launch motion control in the DARPA Gremlins unmanned aircraft.
Mordor Intelligence has Segmented the Aircraft Actuators Market Based on Type, System, End User, and Geography:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Linear
- Rotary
- By System (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hydraulic Actuators
- Electrical Actuators
- Pneumatic Actuators
- Mechanical Actuators
- By End User (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- Egypt
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Aircraft Actuators Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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