New York, March 15, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Reports Insights, the aviation actuator systems market is poised for strong expansion and is expected to reach US$ 23.62 Billion by 2030. The market, which was valued at US$ 15.4 Billion in 2022, is predicted to grow at a compound annual growth rate of 6.3% during the period 2023-2030. This estimation is based on a comprehensive analysis of the market's historical and current trends, industry dynamics, and macro-economic factors that are expected to impact the market's growth during the forecast period.
Aviation Actuator Systems Market Size, Share & Trends Analysis, By Motion (Linear, and Rotary), System (Hydraulic Actuators, Electrical Actuators, Pneumatic Actuators, Mechanical Actuators, and Others), Application (Flight Control System, Landing Gear & Braking System, Fuel Management System, Propeller Systems, and Others), Industry (Airlines and Cargo, Defense, Naval & Commercial Marine, UAVs, and Urban Air Mobility), By Region and Segment, Forecast Period 2023 – 2030.
ReportsInsights Consulting Pvt. Ltd. provided an inclusive research report on the aviation actuator systems market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyzes significant segments such as motion, system, application, industry, and region, to identify emerging trends and potential opportunities. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
As per the research, Sitec Aerospace GmbH, Honeywell International Inc., Astronics Corporation, and Safran SA are major market players that comprise the latest market circumstances. Such companies are continuously leveraging new technologies such as additive manufacturing and advanced materials to develop innovative solutions that are more efficient, lightweight, and cost-effective as compared to conventional hydraulic or pneumatic actuators. Further, the aviation actuator systems market is expected to grow steadily due to rising demand for aircraft, especially in the Asia Pacific and Middle East regions are estimated to boost the market statistics in the coming years. Additionally, the trend towards electrification and automation of aircraft systems is also estimated to drive demand for electric actuators which is anticipated to increase the competition in the market.
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Key Market Takeaways
- North America will create favorable circumstances for market growth in terms of value and volume due to increased government investments in the air force and defense industry in terms of technology advancements.
- By system, the hydraulic actuators segment is anticipated to contribute the largest shares to the market growth in 2022.
- In the context of application, the flight control system segment is expected to contribute significant shares to the growth of aviation actuator systems market statistics during the forecast period.
- Based on industry, the airlines and cargo segment is estimated to contribute substantial shares to the market growth in terms of volume and value.
- Based on motion, the linear segment accounted for the highest share contribution to the aviation actuator systems market statistics in 2022.
- With increased international tourism in countries such as India, Malaysia, and Thailand, Asia Pacific is expected to boost the market demand in commercial as well as passenger airlines for safety and overall flight controls.
Aviation Actuator Systems Market Growth Drivers:
- Growing focus on safety and technological advancements by public and private aviation ventures boosts the demand for actuators for fuel efficiency, and overall aircraft performance.
- The rising prices of aviation fuel boost the demand for actuators to improve aerodynamics and reduce aircraft weight.
- Increased adoption of unmanned aerial vehicles (UAVs) in various industries such as defense, agriculture, and logistics accelerates the demand for actuators for monitoring or controlling flight control surfaces.
- The high costs of the development and maintenance of aviation actuator systems restrict the wide adoption of such systems by various small and medium-sized aircraft manufacturers.
- The stringent implementation of regulations by regulatory authorities, especially the Federal Aviation Administration (FAA) limits the large-scale manufacturing of actuators as various actuators have to undergo rigorous testing and certification.
In July 2022, Moog Inc. and Triumph Group, Inc. agreed to work together for four years to offer maintenance, repair, and overhaul solutions for the cargo door and landing gear actuation control systems of Boeing 787 airplanes belonging to an Asia Pacific operator. This required assistance is expected to be done through Moog's Aftermarket Total Support Program (MTS), and the work is estimated to take place at TRIUMPH Actuation Products and Services hydraulic actuation centers of brilliance located in Washington, and Clemmons, Yakima, and North Carolina.
In October 2022, Collins Aerospace released an announcement that the NP2000 propeller system upgrades for the Chilean Air Force's (CAF) C-130 have been completed successfully. This marks a significant achievement as it is the first time an international C-130 has been upgraded with the NP2000 system.
Aviation Actuator Systems Market Report Scope:-
|Report Attributes||Report Details|
|Market Size By 2030||USD 23.62 Billion|
|Key Players||Sitec Aerospace GmbH, ArtimusRobotics.com, Collins Aerospace (Raytheon Technologies Corporation), Honeywell International Inc., Curtiss-Wright, Eaton, Safran SA, SaaB AB, Astronics Corporation, AMETEK.Inc.|
|By Motion||Linear, and Rotary|
|By System||Hydraulic Actuators, Electrical Actuators, Pneumatic Actuators, Mechanical Actuators, and Others|
|By Application||Flight Control Systems, Landing Gear & Braking Systems, Fuel Management Systems, Propeller Systems, and Others|
|By Industry||Airlines and Cargo, Defense, Naval & Commercial Marine, UAVs, and Urban Air Mobility|
|Report Coverage||Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Total Revenue Forecast, Business Strategies, and more.|
|By Geography||North America [United States, Canada, Mexico]|
Asia-Pacific [China, Japan, India, Southeast Asia, Korea, Western Asia]
South America [Brazil, Argentina, Columbia, Chile, Peru]
Europe [Germany, UK, Turkey, Spain, France, Italy, Russia, Netherlands, Switzerland]
Middle East & Africa [GCC, North Africa, South Africa]
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The aviation industry is expected to witness an increase in aircraft production in the coming years due to the rising demand for air travel. Such increased demand for traveling by air is expected to create new opportunities for the aviation actuator systems market in terms of safe and efficient operation. For instance, according to industry statistics published by the International Air Transport Association (IATA), global commercial airlines garnered USD 506 billion in 2021, which is an increase of 32.4% from the revenue of 2020 which is USD 382 billion.
Rising popularity of electric aircraft in the aviation industry to reduce carbon emissions and improve fuel efficiency will push the demand for electric actuator systems and create lucrative opportunities for the market of aviation actuator systems.
The rapid technological advancements witnessed by the market in terms of the usage of smart sensors and IoT technology will also create new opportunities for the development of more advanced and efficient actuator systems.
Growing trend of automation in the aviation industry is anticipated to create favorable circumstances for manufacturers and airlines, which are seeking to improve the safety and efficiency of operations. This trend is expected to increase the demand for aviation actuator systems, which are essential components of automated aircraft systems in terms of speed control, aerodynamics, and controlled landing and take-off.
Also, the expansion of the aviation industry in emerging markets is driven by factors such as rising incomes, improved standards of living, and increasing demand for air travel. Such expansion is estimated to create opportunities for the aviation actuator systems market growth, as manufacturers and airlines focus on introducing product innovations for fuel efficiency and aerodynamics of aircraft.
With the increased focus on technology advancements in aircrafts such as electric propulsion systems, 3D printing of robust aircraft components, and usage of new alloys and composites such as graphite, titanium, fiberglass, and reinforced epoxy, the demand for aviation actuator systems will witness a sudden rise.
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List of Major Aviation Actuator Systems Market Players
• Sitec Aerospace GmbH
• Collins Aerospace (Raytheon Technologies Corporation)
• Honeywell International Inc.
• Safran SA
• SaaB AB
• Astronics Corporation
- Moog Inc.
Global Aviation Actuator Systems Market Segmentation:
- By Motion
- By System
- Hydraulic Actuators
- Electrical Actuators
- Pneumatic Actuators
- Mechanical Actuators
- By Application
- Flight Control System
- Landing Gear & Braking System
- Fuel Management System
- Propeller Systems
- By Industry
- Airlines and Cargo
- Naval & Commercial Marine
- UAVs and Urban Air Mobility
Key Questions Covered in the Aviation Actuator Systems Market Report
What will be the potential market valuation for the aviation actuator systems industry by 2030?
What insights are covered by the factors driving the growth of the aviation actuator systems market, as well as the opportunities and challenges that may impact the market’s future development?
What specific segmentation details are covered in the aviation actuator systems market report, and how do they contribute to the overall market analysis?
What are some of the most important applications of aviation actuator systems, and how do they impact the industry's growth potential?
Based on current market trends and future predictions, which geographical region will have the largest impact on the aviation actuator systems market's growth in the coming years?
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According to a recent report by Reports Insights