by Aircraft actuators are electro-mechanical devices or components that operate aircraft control surfaces or other flight control components. Aircraft actuators help in positioning the flight control surfaces in the desired orientation to achieve the required aircraft configuration during different phases of flight such as take-off, landing and cruise.
The global Aircraft Actuators Market is estimated to be valued at US$ 10.33 billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Growing commercial aircraft deliveries have been one of the key factors augmenting the demand for aircraft actuators. According to Airbus, over 39,210 new commercial aircraft will be required over the next 20 years valued at US$ 6.3 trillion. Similarly, Boeing has projected a 20-year demand for 43,110 new commercial aircraft valued at US$ 6.8 trillion. With the growing fleet size of commercial aircraft, the need for aircraft components such as actuators is increasing. This rising demand from commercial aircraft manufacturers is estimated to propel the growth of the global aircraft actuators market during the forecast period.
SWOT Analysis
Strength: Aircraft actuators are small, lightweight components that are responsible for moving and controlling different parts of an aircraft like wings, tail, rudders etc. Their small size and lightweight nature helps improve aircraft performance and efficiency.
Weakness: Aircraft actuators are complex mechanical components that require precise manufacturing. Any design or manufacturing flaws can affect aircraft safety. High performance requirements also increase production challenges and costs.
Opportunity: Growing commercial aircraft deliveries driven by increasing air passenger traffic globally is driving the demand for new aircraft. This increases replacement opportunities for existing aircraft actuators. Developing more advanced lightweight and durable actuators also opens up new business opportunities.
Threats: Intense competition among established players limits pricing flexibility and margins. Stringent aviation safety standards impose compliance requirements, increasing regulatory hurdles. Political and economic instability in some countries can potentially affect aviation industry trends.
Key Takeaways
The global Aircraft Actuators Market Demand is expected to witness high growth driven by rising aircraft deliveries over the forecast period of 2024 to 2031. The global Aircraft Actuators Market is estimated to be valued at US$ 10.33 billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
The Asia Pacific region currently dominates the market and is expected to maintain its lead through 2031. China, India and other Asian countries are witnessing tremendous air passenger traffic growth which is driving significant new aircraft orders and the associated demand for aircraft actuators in the region. Both countries are witnessing double digit increases in air passenger travel annually. This is driving significant aircraft procurement programs from companies like Airbus and Boeing to meet demand. As a result, long term demand for replacement and new aircraft actuators is expected to remain robust in the Asia Pacific region.
Key players operating in the aircraft actuators market include Honeywell International Inc, Moog Inc, Parker Hannifin Corporation, Curtiss Wright, Triumph Group, Electromech Technologies, Woodward, Inc, UTC Aerospace Systems, Arkwin Industries Inc, and EME Elettromeccanica S.p.A. These players are focusing on new product launches, partnerships and mergers & acquisitions to expand their product offerings and distribution networks. For example, Moog acquired AC Antriebe which strengthens its position in motors and actuators for aircraft.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
