Global Aircraft Actuator Market accounted for US$ 15.30 billion in 2020 and is estimated to be US$ 19.54 billion by 2030 and is anticipated to register a CAGR of 3.0%. Mechanical Actuators are devices that convert mechanical motion (typically rotary) into linear motion or, with the aid of gearing, into rotary motion at a different speed. These actuators are usually part of a larger system that includes a power drive, mechanical interconnects, and feedback devices for controlling multiple devices' motion.
The report " Global Aircraft Actuator Market, By Type (Mechanical Actuators, Pneumatic Actuators, Hydraulic Actuators, and Electric Actuators), By Application (Narrow-body Aircraft, Wide-body Aircraft, and Enormous Aircraft), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029’’
Key Highlights:
- Honeywell said in January 2020 that it was working on a new range of electromechanical actuators specifically for urban air mobility. The major flight control surfaces of these actuators are expected to be moved entirely by electric power.
- Eaton announced in January 2020 that it had agreed to sell its Hydraulics division to Danfoss A/S for USD 3.3 billion.
- With innovative fly-by-wire technology, Collins Aerospace teamed with Sikorsky in June 2019 to redefine the approach to autonomous flight. This will open the door to new retrofit solution demonstrations for the Optionally Piloted Vehicle (POV) system, as well as a triple-redundant system for safety-critical applications with jam-free electromechanical actuators.
Analyst View:
As the trend toward more electric aircraft (MEA) grew, aeroplane manufacturers began working with suppliers to develop new technologies and set up new electrically-intensive architectures. MEA is a key enabler in the aircraft sector, unlocking enormous potential for aircraft weight reduction, fuel-efficient engines, lower operational expenses through lower maintenance costs, and increased aircraft reliability. Hydraulic, pneumatic, and mechanical power sources are currently used to power all non-propulsive systems. MEA is a concept that encourages the use of electric power in conventional systems.
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Key Market Insights from the report:
Global Aircraft Actuator Market accounted for US$ 15.30 billion in 2020 and is estimated to be US$ 19.54 billion by 2030 and is anticipated to register a CAGR of 3.0%. The global aircraft actuator market report segments the market on the basis of type, application, and region.
- Based on Type, Global Aircraft Actuator Market is segmented into Mechanical Actuators, Pneumatic Actuators, Hydraulic Actuators, and Electric Actuators.
- Based on Application, Global Aircraft Actuator Market is segmented into Narrow-body Aircraft, Wide-body Aircraft, and Enormous Aircraft.
- By Region, the Global Aircraft Actuator Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Aircraft Actuator Market:
The key players operating in the aircraft actuator market are Honeywell International Inc., Moog Inc., Parker Aerospace, Rockwell Collins and UTC Aerospace Systems.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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