Aircraft Actuator Market is expected to reach US$ 11,631.67 Mn by 2027

Rising Demand for Narrow-Body and Small Aircraft to Provide Growth Opportunities for Aircraft Actuators Market

According to our latest market study on “Aircraft Actuators Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, System, and End User,” the market was valued at US$ 7,700.33 million in 2019 and is projected to reach US$ 11,631.67 million by 2027; it is expected to grow at a CAGR of 6.6% from 2020 to 2027.

The aircraft actuator industry is continuously evolving with innovations 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. An advent of electric aircraft is creating a new opportunities for the market players to focus on developing lighter, smaller, and efficient aircraft actuators. Further, increasing demand for small and narrow-body aircraft fleet from developing and developed nations propels the market growth. As the new electric actuators perform faster operations with minimal maintenance cost, major companies are selecting these products over hydraulic and pneumatic. The aircraft manufacturers are installing electronic flight control systems to improve control, which promotes the actuator manufacturers to design efficient and compact solutions to meet customer requirements. The aviation industry is experiencing declining growth in North America, Asia, and Europe owing to the COVID-19 pandemic, as majority of the flights are suspended for longer period. Thus, the demand for actuators is lowering with delayed delivery and postponed expansion of aircraft fleet in various countries. Increasing volume of commercial and military aircraft in global market owing to rising number of passengers is prominently driving the market growth during the forecast period.

North America held the largest share of the aircraft actuators market, by region, in 2019, followed by Europe and Asia Pacific. Further, the market in Europe is projected to witness the highest CAGR during the forecast period. The aircraft actuators market is segmented on the basis of type, system, and end user, and geography. Based on type, the market is bifurcated into linear and rotary. The linear segment represented a larger share of the overall market in 2019. On the basis of system, the market is further segmented into hydraulic actuators, electrical actuators, mechanical actuators, and pneumatic actuators. In 2019, the hydraulic actuators segment accounted for a substantial share in the global aircraft actuators market. Based on end user, the market is segmented into commercial aircraft and military aircraft. The commercial aircraft segment accounted for a larger share of the overall market in 2019.

Impact of COVID-19 Pandemic on Aircraft Actuators Market

Amid the COVID-19 pandemic, the entire commercial aviation industry came to halt with minimal resources to foresee the future. Several production units in the US, France, Russia, and China were temporarily paused to adhere to the government regulations related to lockdown and physical distancing. The aircraft manufacturers witnessed 30–50% reduction in demand for most of their aircraft models, especially for the commercial aircraft models. The decreased aircraft production and assembly activities have decimated the demand for aircraft actuators. The business aviation sector also experienced turmoil throughout 2020 due to the lowered business jet deliveries and reduced demand for turbo-prop and rotary helicopters. Thus, the entire aircraft manufacturing sector observed severe downfall in demand, which reflected less than usual annual growth rate in revenue generation trend. The business aviation and general aviation aircraft manufacturers were witnessing substantial demand for their products, however, the trend turned upside down in 2020, as the demand for used aircraft model grew among the users, which led the aircraft manufacturers experience fall in demand for newer aircraft models. This has restricted the manufacturers to procure actuators and other systems and technologies for newer aircraft models, thereby hampering the revenue generation of the aircraft actuators market players.

Collins Aerospace, a Raytheon Technologies Corporation Company; Curtiss-Wright Corporation; Eaton Corporation plc; Honeywell International Inc.; Meggitt plc; Moog Inc.; Nook Industries, Inc.; Parker-Hannifin Corporation; TransDigm Group Incorporated; and Woodward, Inc. are among the major companies operating in the aircraft actuators market.

Aircraft Actuators Market — by Geography, 2019

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Aircraft Actuator Market Size, Share, Outlook By 2027

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Aircraft Actuator Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Linear and Rotary), System (Hydraulic Actuators, Electrical Actuators, Mechanical Actuators, and Pneumatic Actuators), and End User (Commercial Aircraft and Military Aircraft)

The report segments the global aircraft actuators market as follows:

By Type

• Linear
• Rotary

By System

• Hydraulic Actuators
• Electrical Actuators
• Mechanical Actuators
• Pneumatic Actuators

By End User

• Commercial Aircraft
• Military Aircraft

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• APAC
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• SAM
  • Brazil
  • Argentina
  • Rest of SAM