Aircraft Actuators Market Size More Than Doubles to Cross USD 98 Billion by 2029
Aircraft actuators market is flourishing because of increasing demand for commercial aircraft and high adoption of more electric aircraft concepts.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global aircraft actuators market size at USD 45.1 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global aircraft actuators market size to grow at a significant CAGR of 11.78% reaching a value of USD 98 billion by 2029. Major growth factors of global aircraft actuators market include increasing worldwide passenger volume and expanding aircraft capability to reduce weight constraints. Also, the expansion of the aviation actuator market is related to the expansion of the aircraft manufacturing industry. It has increased the demand for lightweight, power-efficient airplane actuators. The aviation actuator industry is witnessing an increase in the use of electromechanical actuators due to their high efficiency and reliability when compared to other products. The industry is also focusing more on the usage of piezoelectric actuators and magnetic actuators, which are tiny in size and provide great energy density and support to the aircraft system. These factors, in turn, are expected to boost the expansion of global aircraft actuators market. However, high power consumption is anticipated to restrain the expansion of global aircraft actuators market during the period in analysis.
Global Aircraft Actuators Market – Overview
An aircraft's movement and mechanics are controlled by actuators. A discount gear is used in aircraft actuators to control the rotational motion. Actuators are employed in a variety of purposes in aviation, including controlling and limiting the aircraft's speed by adjusting levers and flaps. Aircraft actuators can tolerate extreme temperatures, vibrations, and heat. Furthermore, various aircraft actuators are used during an aircraft's landing procedure. For example, linear actuators are used to open the gate of landing gear, and actuators are used to lower the position of landing gear. Hydraulic actuators were formerly utilized in landing gear; however, with advancements in technology and reliability, electric actuators are now favored in modern aircraft. Also, piezoelectric aircraft actuators are employed in aircraft vibration and noise reduction. Aircraft actuators are frequently used in commercial aircraft land gear, control, position feedback, clutches, load limiters, manual drives, seat actuation, landing gears, and electromagnetic brakes. By adjusting levers and valves, actuators limit and control engine speed and velocity. In an emergency, valves block the flow of a medium, assuring safety. A humidification system valve constantly moistens the fresh air in an aircraft.
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Impact of COVID-19 on Global Aircraft Actuators Market
COVID-19 had a detrimental impact on the growth of the global aircraft actuator market because of the incidence of lockdowns in numerous nations throughout the world. Lockdowns necessitated the shutdown of several manufacturing facilities, including those for airplane actuators, reducing demand. Also, decreased flight travel among people and cancellations of both domestic and international flights in numerous nations exacerbated the market impact. Furthermore, a lack of raw resources as a result of severe trade restrictions hampered industry growth. The government established these limitations to slow the spread of the virus during the pandemic.
Global Aircraft Actuators Market – By System
Based on system, global aircraft actuators market is divided into Flight Control System, Landing & Braking System, Thrust Reverser Actuation System, Power Generation System, Fuel Distribution System, and Payload Management System. The flight control system segment is expected to lead the aircraft actuators market. As fly-by-wire systems, which replace the physical links between the pilot controls and flight control surfaces with an electronic interface, are introduced into aircraft platforms, flight control will dominate the market. Because landing and braking systems contribute to the safety of both the aircraft and the passengers and crew on board, they are critical to the fleet's airworthiness and will account for the majority of investment throughout the projected period.
Competitive Landscape
Major players operating in global aircraft actuators market include Honeywell International Inc., Raytheon Technologies Corporation, Parker Hannifin Corp., Eaton Corporation plc, Moog Inc., Safran SA, Triumph Group, Woodward Inc., Arkwin Industries Inc., Electromech Technologies, Nook Industries Inc., Liebherr-International Deutschland GmbH, and Beaver Aerospace & Defense Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Aircraft Actuators Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Aircraft Actuators Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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