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It is estimated for the global aircraft actuator market to witness growth at a CAGR of 4.1% during the forecast period of 2022 to 2030. The market witnessed healthy growth even in the previous forecast period of 2018 to 2021. The growing trend of more electric aircraft and the expected increasing demand for commercial aircraft all over the globe are the factors that are estimated to boost the growth of the market during the forecast period.
Global Aircraft Actuator Market – Overview
By reducing maintenance costs, and increasing aircraft reliability the concept of MEA acts as a critical enabler in the aircraft industry that unlocks significant potential for aircraft weight reduction, fuel-efficient engines, and reduction in operational costs. This factor is estimated to drive the growth of the market during the forecast period.
The integration of pneumatic actuators is considerably high, and the charges for maintenance of these actuators are also expensive. It is estimated for this factor to hamper the growth of the market during the forecast period.
Electrical actuation systems are also eco-friendly and easy to use than the older and conventional actuators, which own hydraulic fluids which can damage the skin and cause poisoning or infection due to the high temperature. This factor is also estimated to rise the growth of the market during the forecast period.
The use of these devices takes place in wheel brakes, landing gears, propellers, flight control surfaces, wing flaps, and spoilers. Such a wide range of applications found in the devices is estimated to drive the growth of the market during the forecast period.
There exist the chances of fluid leakages, higher risk of fire, and spoiling of actuation systems owing to erosion due to fluid leakages which happen to create a huge burden. This factor is also estimated to be slowing down the growth of the market during the forecast period.
Owing to the inherent danger related to aircraft operations the industry of aviation has been very much regulated. Also, it has become a tough task for the component and system manufacturers to adhere to the regulations owing to dynamic technological specializations and upcoming technological advancements and products replacing the older ones at rapid intervals.
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Segmental Analysis of the Market
It is estimated for the OEM category to boost the growth of the market during the forecast period.
It is estimated for the rotary category to boost the growth of the market during the forecast period.
It is estimated for the flight control system category to boost the growth of the market during the forecast period.
North America to lead the growth of the market during the forecast period
North America, Europe, Asia-Pacific, and the Rest of the World are the major players in the market. Owing to the presence of several large aircraft actuator manufacturers in the region and the growing demand from businesses across various industries the market pertaining to the area of North America is expected to witness growth at the highest rate during the forecasted years (2022-2030).
Some of the prominent companies operating in the market are
Major questions answered in this report
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Key takeaways from the report
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