Aircraft Actuators Market Revenue USD 11.4 Billion by 2027
Research Reports
Oct 26, 2022
The Aircraft Actuators market size is projected to grow from USD 8.1 Billion in 2022 to USD 11.4 Billion by 2027, at a CAGR of 7.0% from 2022 to 2027. The growing adoption of more electric aircraft concept and the expected increasing demand for commercial aircraft are some of the factors driving market growth, while the high-power consumption of electric actuators and the associated design challenges such as heat dissipation are factors hindering market growth.
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Based on Installation Type, the OEM aspect of the aircraft actuators market dominates market share on account of the increasing number of deliveries to effectively cater to the rapidly growing passenger traffic. The fleet modernization plans are expected to be driven by the growing regulations that seek to improve the safety features given by aircraft and standardize the functions offered by certain types of aircraft
Based on System, flight control system is expected to dominate market share as the aircraft platforms are being integrated with fly-by-wire systems wherein the physical connection between the pilot controls and flight control surfaces is replaced by an electrical interface. Since, landing & braking systems help ensure the safety of both the aircraft and onboard passengers and crew, they are vital for ensuring the airworthiness of the fleet and hence account for the second largest market share during the forecast period.
Based on Technology, hydraulics is forecasted to dominate market share during the forecast period on account of the inherent benefits, such as variable speed, high power output, stall situation, and overload protection, driving market growth. This renders them suited for high-force applications, such as landing gears. However, in the next generation aircraft, OEMs are trying to integrate hybrid actuators as a precursor to integrating electric actuators onboard new upcoming aircraft programs.
Based on Aircraft Type, fixed-wing aircraft is expected to account for the largest market share during the forecast period. The rapid growth in global passenger traffic is expected to drive the demand for fixed wing aircraft in the commercial and general aviation sectors, thereby creating a parallel demand for aircraft actuators for integration into the different systems onboard the aircraft.
Based on Platform, the commercial aviation segment is projected to lead the aircraft actuators market during the forecast period. Increased market demand for fuel-efficient aircraft, a growth in airline passenger traffic, and fleet expansion all contribute to the need for commercial aircraft.
Based on Type, the rotary segment is projected to lead the aircraft actuators market during the forecast period. Rotary Actuators are very helpful in automation applications like gates and valves due to their inherent benefits. For instance, their high effectiveness, which ranges from 85% to 92% in single rack models and 92% to 97% in double rack versions, is what drives demand for their integration into commercial aviation systems.
Based on Region, North America accounted for the largest market share in 2022, and Latin America is projected to witness the highest CAGR during the forecast period. The market for aircraft actuators in the commercial and business aviation sectors in these regions is expected to benefit from the rising demand for air travel while the escalation of global geopolitical rift is driving the race for superiority in terms of military capabilities, evident from enhanced defense expenditure and investments in the modernization of various defense equipment of countries such as the US. Additionally, the increased investment in the R&D sector by the major OEMs to develop superior performance electric actuators to meet the future aviation industry demand.
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Major players operating in the aircraft actuators market include Raytheon Technologies Corporation (US), Curtiss-Wright Corporation (US), Honeywell International Inc. (US), Safran SA (France), Liebherr-International Duetschland GmbH (Germany), Moog Inc. (US), and Eaton Corporation plc (Ireland). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific.
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