Aircraft Actuator Market: Current Analysis and Forecast (2023-2030)

Report Description

The Aircraft Actuator Market was valued at 8.2 billion in 2022 and is expected to grow at a steady rate of around 7.5% in the forecasted period (2023-2030) owing to the increasing demand for devices for maintenance and upgradations in aging aircraft.  An aircraft actuator is a mechanical device that is used to control the movement of an aircraft’s control surfaces, such as the ailerons, elevators, and rudder. The actuator converts the input from the pilot’s controls, such as the joystick or yoke, into the necessary movement of the control surface to adjust the aircraft’s attitude and direction. The growing aviation industry is accelerating the demand of the market. Furthermore, the development of new technologies, such as electric and hybrid-electric propulsion systems, is driving the demand for aircraft actuators that can handle the increased power and control requirements of these systems.

GET A REPORT SAMPLE

Some of the major players operating in the market include Moog Inc.; Honeywell International Inc.; Safran; Woodward Inc.; Parker Hannifin Corporation; UTC Aerospace Systems; Meggitt PLC; Zodiac Aerospace; Triumph Group, Inc.; AMETEK Inc.

Insights Presented in the Report

“Amongst actuator types, hydraulic category to witness significant market growth during the forecast period.”

Based on the actuator types, the market is segmented into hydraulic, pneumatic, electric, electromechanical, and others. Among these, the hydraulic segment is leading the maximum share of the market due to its high power density, precision, and ability to handle heavy loads. Hydraulic actuators are commonly used in applications requiring high force and precise control, such as construction equipment and industrial machinery. Their robustness and efficiency in such scenarios contribute to their prominent market position.

“Amongst applications, commercial aviation category to witness significant market growth during the forecast period.”

Based on applications, the market is bifurcated into commercial aviation, military aviation, business & general aviation, and others. Among them, the commercial aviation segment is making a huge impact on the market due to the growing demand for air travel, the expansion of airline fleets, and the increasing need for efficient transportation solutions. With the rise in global travel and cargo shipping, commercial aviation plays a vital role in connecting people and goods across the world. This sustained demand for commercial aviation services is driving innovation and investment in aircraft technology, making it a substantial driver of market growth. For instance, According to the International Air Transport Association (IATA), global air traffic is expected to reach 7.2 billion passengers by 2036, which is more than double the number of passengers in 2019.

REQUEST FOR CUSTOMIZATION

 “Asia Pacific to hold a significant share in the market.”

The region’s expanding economy, increasing disposable income, and growing middle-class population are driving higher air travel demand. This, in turn, leads to increased aircraft orders and a greater need for aircraft components like actuators. Furthermore, Asia Pacific is witnessing substantial investments in the aviation sector, both in terms of airport infrastructure and the establishment of new airlines. As a result, there’s a higher demand for aircraft across various segments, including commercial, military, and business aviation. For instance, In March 2022, Boeing announced plans to invest $1 billion in a new factory in South Carolina to produce electric and hybrid aircraft. The company has also announced investments in other areas of the aviation industry, including the development of new airplane interiors and the expansion of its digital services. Additionally, the region’s manufacturing capabilities and skilled labor force are contributing to the growth of the aircraft manufacturing industry. Many global aircraft manufacturers and suppliers are establishing or expanding their production facilities in the Asia Pacific, which boosts the demand for aircraft actuators.

Aircraft Actuator Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Aircraft Actuator market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Research Methodology for the Aircraft Actuator Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Aircraft Actuator market were the three major steps undertaken to create and analyze the adoption of Aircraft Actuator in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Aircraft Actuator market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Aircraft Actuator market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Aircraft Actuator market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as actuator type, platform, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Aircraft Actuator market. Further, we conducted factor analysis using dependent and independent variables such as various actuator type, platform, and application of Aircraft Actuator. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Aircraft Actuator market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Aircraft Actuator market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Aircraft Actuator market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Aircraft Actuator market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Aircraft Actuator market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of actuator type, platform, and application in the global Aircraft Actuator market.

The main objective of the Global Aircraft Actuator Market Study

The current & future market trends of the global Aircraft Actuator market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Aircraft Actuator market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of actuator type, platform, and application.
• Define and analysis of the regulatory framework for the Aircraft Actuator industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Aircraft Actuator market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Aircraft Actuator market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team