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Aircraft Actuators Market Size

  • Report ID: GMI7556
  • Published Date: Dec 2023
  • Report Format: PDF

Aircraft Actuators Market Size

Aircraft Actuators Market was valued at over USD 8.5 billion in 2022 and is estimated to register a CAGR of over 7% between 2023 and 2032. The global air travel industry is expected to grow steadily in the coming years, driven by factors such as increasing disposable incomes, rising urbanization, and growing business travel. This growth in air traffic will lead to an increased demand for new aircraft, which in turn will drive demand for aircraft actuators.

 

For instance, in January 2023, Parker Hannifin, a global leader in motion and control technologies, announced that it has been selected to supply electrohydraulic actuators for the COMAC C919, China's first domestically developed large commercial passenger aircraft. The actuators will be used in various applications on the aircraft, including the landing gear, flaps, and slats. The global fleet of aircraft is aging, and many aircraft are approaching or exceeding their design lifespans. This aging fleet will require more frequent maintenance and repair, which will drive demand for replacement actuators. Airlines are under increasing pressure to reduce their fuel consumption and carbon emissions. This is leading to a demand for more fuel-efficient aircraft, which often require lighter and more efficient actuators. There have been significant advancements in actuator technology in recent years, such as the development of electromechanical actuators (EMAs) and hydraulic actuators with integrated electronics. These advancements are leading to more efficient, reliable, and lightweight actuators, which are in high demand from aircraft manufacturers.

 

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market size for aircraft actuators was valued at USD 50 billion in 2022 and is estimated to register a CAGR of over 6% between 2023 and 2032 driven by increasing disposable incomes, rising urbanization, and growing business travel.

The hydraulic actuators segment dominated the aircraft actuators industry with a share of over 45% in 2022 and is estimated to reach over USD 8 million by 2032, owing to their utility in aircrafts for reliability and performance.

North America market size for aircraft actuators held a revenue share of over 23% in 2022 and is predicted to witness substantial growth through 2032 driven by booming aviation sector in the region, along with a strong base of precision engineering companies that specialize in actuator manufacturing.

Rockwell Collins (now part of Raytheon Technologies), Honeywell Aerospace, Moog Inc., UTC Aerospace Systems (now part of Raytheon Technologies), Safran Group, Woodward, Inc are some of the major industry contenders.

Aircraft Actuators Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 395
  • Countries covered: 20
  • Pages: 250
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