The aircraft actuators are a component used for managing the speed and velocity of the aircraft by adjusting levers and valves, to ensure the safety of the passengers. The global aircraft actuator market is projected to witness the lucrative growth during the forecast period on account of increasing demand for narrow-body aircraft in the emerging nations, rapidly increasing passenger traffic and technological advancement in the aviation industry.
According to MarkNtel Advisors’ research report “Global Aviation Actuator Market Analysis, 2020”, the market size of the global Aviation Actuator market is estimated to grow at a CAGR of around 6% during 2020-25. The automation and technological advancement in the aviation industry is resulting in the development of the aviation actuator market.
Furthermore, the increasing fuel prices, contrary to the rising number of long-haul aircraft commercial fleets have been augmenting the demand for low weight, fuel-efficient, and compact aircraft. The low power consumption attribute of the electrical actuators is expected to bring parallel outcomes for the global aviation actuator market.
Mechanical Actuators to gain over the Conventional Market in the Long Run
Based on the product type, the electric actuators market demand is expected to witness the uptick during the projected tenure of five years, attributing to the growing advancement in the aircraft features, rising inclination toward autonomous aircraft, and surging replacement of conventional components and functionalities with the electrical alternatives. The electric actuators are low weight, fuel-efficient, low-power consumable, compact and reliable actuator types.
However, during 2015-2019, the market has been led by the hydraulic and pneumatic actuator types, and the segments are expected to lead in the upcoming years, but eco-friendly advantages of the electric substitute are expected to gain in the long run.
Narrow-Body Aircraft Segment Experiencing an Increasing Demand for Aviation Actuators
Based on aircraft type, the narrow-body aircraft segment is expected to experience the highest CAGR over the forecast period due to the increasing demand for narrow-body aircraft from the developing regions. The market share of such aircraft is set to forecast to grow during 20202-25. The Asia-Pacific region is expected to observe the subsequent demand for such aircraft in the upcoming years, due to increasing disposable income of the population, rising air fleet passenger traffic, and increasing demand for international long-haul travel, most significantly in India and China. The leading manufacturers of aircraft in North America and the European region have been experiencing a noticeable increase in the sales volume over the past couple of years.
According to MarkNtel Advisors, some the of key competitors operating in the Global Aviation Actuator market include Honeywell International, United Technologies Corporation, Rockwell Collins, Inc., Parker Hannifin Corp., Eaton, Curtiss-Wright Corporation, Saab AB, etc.
“Global Aviation Actuator Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Aviation Actuator providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Application (Flight Control, Health Monitoring System, Power Distribution System, Fuel Management System, Landing, and Braking System, Avionics System)
2. By Product Type (Electric Actuators, Mechanical Actuators, Pneumatic Actuators, Hydraulic Actuators)
3. By Aircraft Type (Narrow Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Fighter Aircraft, Transport Aircraft)
4. By End User (Commercial Aviation, Defense)
5. By Region (North America, South America, Europe, the Middle East, and Africa, Asia- Pacific)
6. By Country (US, Canada, Brazil, Argentina, Germany, France, Italy, UK, Russia, Saudi-Arabia, Egypt, Turkey, Israel, China, India, Japan, South Korea)
7. By Company (Honeywell International, United Technologies Corporation, Rockwell Collins, Inc., Parker Hannifin Corp., Eaton, Curtiss-Wright Corporation, Saab AB, and Others)
Key questions answered in the study:
1. What are the key market statistics – market size, forecast, market share, market trends, etc. of the global aviation actuator market?
2. What are the current and future technology trends of the Global Aviation Actuator industry?
3. How the industry has been evolving in terms of end-user demand and application areas?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global Aviation Actuator industry?
6. What are the customer orientation, purchase behavior, and expectations from the Aviation Actuator suppliers across various regions?