New York, United States , Feb. 06, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft Actuator Market Size to Grow from USD 26.8 Billion in 2023 to USD 48.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.07% during the Forecast period.
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Aircraft actuators are essential in the aviation industry because they manage a wide range of systems and movements within an aircraft, including flight control surfaces, landing gear, and other crucial components. The general growth and expansion of the aviation sector drives up demand for innovative and efficient aircraft components like actuators. The number of orders for new aircraft, both commercial and military, determines the demand for numerous aircraft components, including actuators. The market is primarily driven by aircraft manufacturers and aerospace suppliers.
Aircraft Actuator Market Value Chain Analysis
The raw material supplier stage includes companies that supply the fundamental materials needed to make aircraft actuators, such as metals, alloys, and electronic components. Component Specialised firms manufacture the many components that make up the aeroplane actuators. These components include gears, bearings, motors, sensors, and electronic control units. The components are then assembled to produce complete aircraft actuators. To ensure flawless construction, this technology may necessitate sophisticated assembly lines and skilled labourers. Actuators are rigorously examined before they are released to the market. Functional testing to ensure proper operation, stress tests to check durability, and compliance tests to ensure conformity with industry norms and legislation are all possible options. Actuators are then sent to a wide range of clients, including aircraft manufacturers, maintenance facilities, and other end users.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts From the Report on the "Global Aircraft Actuator Market Size By Product (Mechanical, Pneumatic, Hydraulic), By Application (Flight Control System, Health Monitoring System), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Product
The hydraulic actuator type segment accounted for the largest market share over the forecast period 2023 to 2033. Hydraulic systems are renowned for their dependability and endurance in severe aircraft environments. These actuators can withstand harsh conditions such as temperature variations and high-pressure settings, which adds to their usefulness in critical aircraft systems. Hydraulic actuation technology has been utilised in aeroplanes for decades, and it has proven to be reliable. This dependability has led to its continued employment in a variety of aircraft, particularly larger commercial and military models.
Insights by Application
The health monitoring system segment accounted for the largest market share over the forecast period 2023 to 2033. Health monitoring systems provide predictive maintenance by continuously monitoring the state of aircraft components. This allows for the early detection of potential defects, reducing the need for unplanned maintenance and saving downtime. Health monitoring systems improve safety by providing real-time information on the condition and performance of critical components. This proactive method decreases malfunctions while increasing overall system reliability.
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Insights by Region
North America is anticipated to dominate the Aircraft Actuator Market from 2023 to 2033. The United States is a major aircraft manufacturing hub, with Boeing and other defence contractors playing important roles. The demand for aviation actuators is directly tied to the production and orders of commercial and military aircraft. North America has a vibrant commercial aviation industry, with major airlines regularly upgrading their fleets. The desire for new, fuel-efficient aircraft directly influences the need for enhanced actuators.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The Asia-Pacific region is seeing great economic growth, which is raising demand for air travel. This expansion has raised demand for new commercial aircraft, which has boosted the demand for aircraft actuators. The region contributes significantly to the global expansion of commercial aviation. Airlines in China and India are expanding their fleets, creating opportunities for aviation component manufacturers, notably actuator suppliers.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key vendors in the Global Aircraft Actuator Market are Infineon, UTC Aerospace Systems, Honeywell, Microsemi, Vishay Intertechnology, Inc., Safran, Rockwell, Woodward, Inc, and others.
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Recent Market Developments
In January 2020, Honeywell has announced the ongoing development of a new line of electromechanical actuators especially for urban air mobility.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aircraft Actuator Market, Product Analysis
- Mechanical
- Pneumatic
- Hydraulic
Aircraft Actuator Market, Application Analysis
- Flight Control System
- Health Monitoring System
Aircraft Actuator Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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