The aircraft actuators market is segmented on the application, wing type, type, end use, and region.
PORTLAND, OR, UNITED STATES, March 10, 2023 /EINPresswire.com/ — Surge in operations in commercial aviation, increase in the demand for fuel efficiency, rise in the adoption of electric actuators, remarkable surge in air travel activities & air traffic across the globe are expected to drive the growth of the global aircraft actuators market. In addition, increase in military expenditure, and persistent technological advancements in aircrafts in both developing and developed economies are expected to create ample opportunities for the growth of the global aircraft actuator market.
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According to a new report published by Allied Market Research, titled, “Aircraft Actuators Market,” The aircraft actuators market was valued at $14.5 billion in 2021, and is estimated to reach $24.1 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
In 2021, Asia-Pacific region dominated the market in terms of revenue, followed by Europe, North America, and LAMEA. Initiatives taken by the governments toward the modernization of aviation sector and rise in air traffic in the region are expected to propel aircraft actuators industry growth during the forecast period.
There are prominent key factors that drive the growth of the global aircraft actuators market such as rise in operations in the commercial aviation, and increase in demand from emerging regions. The market economy is also responsible for the growth of the aircraft actuators industry. Emerging countries in the region, such as India and China, are experiencing significant increases in civil aviation markets due to increased demand for air travel. Thus, the aerospace sector is witnessing prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the aircraft actuators market.
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Key Market Players:
AMETEK, Inc.
Astronics Corporation
Curtiss-Wright Corporation
Eaton Corporation Plc
Honeywell International Inc
ITT Inc.
Liebherr-International AG
MOOG Inc.
Nabtesco Corporation
Raytheon Technologies Corporation
Saab AB
Safran SA
itec Aerospace GmbH
Tamagawa Seiki Co., Ltd.
Woodward, Inc.
KEY FINDINGS OF THE STUDY
By application, the commercial aviation segment is expected to register a significant growth during the forecast period.
By wing type, the fixed wing segment is expected to register a significant growth during the forecast period.
By type, the rotary segment is projected to lead the global aircraft actuators market
By end use, the OEM segment is projected to lead the global aircraft actuators market
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
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