Aircraft Actuator Market 2021-2031: Market Share and Forecast
The aircraft actuator market size is projected to reach US$ 15.6 billion by 2031 from US$ 8.9 billion in 2023. The market is expected to register a CAGR of 7.2% in 2023–2031. Increasing investment in raising the aircraft fleet and increasing demand for narrow-body and small aircraft are among the key factors driving the aircraft actuator market.
Aircraft Actuator Market Analysis
The growth of the aircraft actuators market is majorly driven by significant investments in advanced technologies in the aviation industry. Over the past twenty years, the aviation (commercial and military) industry has grown signifacntly. The rate of technological transformation has been outstanding, which has increased the demand for various products and services. There is an increase in the adoption of aircraft actuator solutions in commercial aircraft owing to the rise in demand for improving flight control systems and landing gears. The increasing number of aircraft accidents and improving regulatory standards of safety have highlighted the importance of aircraft actuators. To improve the performance level, aircraft are adopting advanced electromechanical actuation systems. Electromechanical actuators are gaining considerable growth in the market as aircraft manufacturers are moving toward the integration of more electrical systems in aircraft. Further, advancements in aircraft control systems, such as digitalization and Internet of Things (IoT) connectivity, are supporting the market growth.
Aircraft Actuator Market Overview
The aircraft actuator industry is continuously evolving with innovations in product offerings to provide smaller, lighter, and cost-effective actuation systems. The rising demand for electromechanical actuators to enhance the actuation processes is propelling the market growth. The advent of electric aircraft is creating a new opportunity for the market players to focus on developing lighter, smaller, and more efficient aircraft actuators. Further, increasing demand for small and narrow-body aircraft fleets from developing as well as developed nations propels the market growth. Increasing electrification in aircraft systems with hybrid formulation using mechanical and hydraulic systems is boosting the growth of the aircraft actuators market.
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Aircraft Actuator Market: Strategic Insights
Market Size Value in US$ 7,700.33 Million in 2019 Market Size Value by US$ 11,631.67 Million by 2027 Growth rate CAGR of 6.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Aircraft Actuator Market: Strategic Insights
| Market Size Value in | US$ 7,700.33 Million in 2019 |
| Market Size Value by | US$ 11,631.67 Million by 2027 |
| Growth rate | CAGR of 6.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Aircraft Actuator Market Drivers and Opportunities
Rising Utilization of Electrotechnical Actuators
Aircraft flight control systems are shifting from bulky, heavy, and leaky hydraulic systems to electric autonomous systems. The advancements in electromechanical (EM) actuators, such as reliability, compact nature, lightweight, and cost-efficiency, are mounting its adoption in aircraft. Commercial and military aircraft fleets are looking for advanced systems that are lighter in weight to enhance fuel efficiency. Actuators in aircraft are used in the functionality of landing gear, slats and spoilers, seats, flaps, positioning engine inlet guide vanes, rudder, ailerons, and opening and closing cargo or weapon bay doors, among others. Since aircraft OEMs are increasingly emphasizing lightweight aircraft models, electromechanical actuators are attracting OEMs in the current scenario, which is catalyzing the aircraft actuators market. Another reason for the increasing adoption of electromechanical actuators is the paradigm shift of the aerospace industry toward electric aircraft, which is obsoleting the hydraulic, pneumatic, and mechanical systems and is increasing the adoption of electric actuation systems. This trend is generating substantial demand for electrical actuators, which is ultimately boosting the aircraft actuators market.
New Technologies: Plasma Actuators, Electric Aircraft Actuators, and VTOL Actuators
Aircraft actuators industry has evolved from pneumatic actuator systems and hydraulic actuator systems to electric actuator systems. As the aircraft fleet is shifting toward clean energy sources, the adoption of electric energy is on the surge in the aviation industry to reduce emissions. The advent of electric aircraft is creating a new trend of electric actuators in the market. For instance, in December 2020, Curtiss-Wright company received the order to provide primary flight control actuation technology for Alice's all-electric commuter aircraft. The company is offering a commercial-off-the-shelf (COTS) EMA design that is lighter, cost-effective and reduces the program risk. Further, hydraulic and pneumatic systems are bulkier, which increases the weight and results in increased fuel consumption. Hence, the aircraft industry is using lightweight electric actuators to reduce additional fuel consumption caused by heavy systems.
Aircraft Actuator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the aircraft actuator market analysis are type, system, and end user.
- Based on type, the aircraft actuator market has been divided into linear and rotary. The linear segment held a larger market share in 2023.
- Based on the system, the aircraft actuator market has been divided into hydraulic actuators, electrical actuators, mechanical actuators, and pneumatic actuators. The pneumatic actuators segment held a larger market share in 2023.
- On the basis of end user, the market has been segmented into commercial aircraft and military aircraft. The commercial aircraft segment held the largest market share in 2023.
Aircraft Actuator Market Share Analysis by Geography
The geographic scope of the aircraft actuator market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the aircraft actuator market in 2023. The North America region includes the US, Canada, and Mexico. The aerospace industry in North America has matured due to the presence of a large number of aircraft manufacturers, advanced actuator technology providers, and a skilled workforce. There is a tremendous demand for new control systems in the region as end users such as military and commercial aircraft manufacturers are well aware of newer technologies. Owing to this, the adoption of electric and hydraulic aircraft actuator solutions in commercial aircraft is high and witnessing increased integration in new narrow-body aircraft developed by aircraft manufacturers. The commercial aerospace sector in North America is majorly dominated by Boeing, which is also integrating a wide range of actuators in its B787 and B777 models for enhanced flight control.
Aircraft Actuator Market Report Scope
Aircraft Actuator Market News and Recent Developments
The aircraft actuator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aircraft actuator market and strategies:
- In June 2023, Supernal (an advanced air mobility company) partnered with UMBRAGROUP. Through this partnership, UMBRAGROUP will supply actuators and motor control electronics in deploying system architecture for Supernal’s future vehicles.
- In July 2022, Honeywell International, Inc. signed an agreement with Archer Aviation Inc. Through this agreement, Honeywell will supply actuators and climate system technology for Archer’s production aircraft.
Aircraft Actuator Market Report Coverage and Deliverables
The “Aircraft Actuator Market Size and Forecast (2021–2031)” report provides a detailed market analysis of the covering below areas:
- Market size and forecast at global, regional, & country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , System , and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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