What is Aircraft Actuator Market?
Aircraft actuators can be defined as the equipment used to convert a signal or command into a mechanical motion which is used for different parts in the aircraft such as flight control surfaces, doors, aircraft nose, and aircraft engines. In the commercial aviation sector, the vendors have already been facing a lot of challenges such as disurption in production due to slowdown in aircraft demand, workers went their homes due to COVID-19, steep drop in passenger traffic, and delay in aircraft deliveries due to disrupted supply chain across the world. The United States aircraft actuator market is expected to grow at a sluggish pace during the forecast period, according to the AMA study. Moreover, the rising electrification in aircraft and introduction of electric & more electric aircraft models are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Highlights from Aircraft Actuator Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB (Switzerland), AMETEK Inc. (United States), Collins Aerospace (United States), Eaton (United States), GE Aviation (United Sates), Honeywell International Inc. (United States), IAI (Israel), ITT INC. (United States), Liebherr Group (Germany), Moog, Inc. (United States), PARKER HANNIFIN CORP (United States), SAAB (Sweden), Safran (France) and Woodward Inc. (United States) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the market. The recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aircraft Actuator market throughout the forecasted period.
ABB (Switzerland), AMETEK Inc. (United States), Collins Aerospace (United States), Eaton (United States), GE Aviation (United Sates), Honeywell International Inc. (United States), IAI (Israel), ITT INC. (United States), Liebherr Group (Germany), Moog, Inc. (United States), PARKER HANNIFIN CORP (United States), SAAB (Sweden), Safran (France) and Woodward Inc. (United States) are some of the key players profiled in the study. Aircraft Actuator Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Landing Gear, Doors, Elevators, Spoilers, Ailerons, Flaps, Rudder and Others |
Type | Linear and Rotary |
End Users | OEMs,Aftermarket |
Technology | Mechanical,Electrical,Pneumatic,Hydraulic |
Aircraft | Commercial Aircraft {Narrow-body, Wide-body, Very Large Aircraft},Military Aircraft,General Aviation,Helicopters,UAVs |
On the basis of geography, the market of Aircraft Actuator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Electric and More Electric Aircraft
Market Growth Drivers:
Rising Electrification Across Aviation Industry and The Rising Military Aircraft Production
Challenges:
Disrupted Aircraft Production in the FY 2020 Due to COVID-19 Pandemic and Slow Recovery in Air Passenger Traffic and Expected Delays in Aircraft Deliveries
Restraints:
Fluctuations in Raw Materials Prices
Opportunities:
Innovation in Technologies for Fuel Efficient Aircraft is Expected to be one of the Major Opportunities for Market Vendors During the Forecast Period
Key Target Audience
Government Agencies, Government regulatory authorities, End User Industry, Customer and Others
Market Leaders & Development Strategies
In July 2019, Honeywell acquired privately held TruTrak Flight Systems, a leader in autopilots for experimental, light-sport, and certified aircraft. Honeywell and Bendixking's capabilities in the aerospace industry will accelerate the continued development of the products TruTrak has built from the ground up. The acquisition will become part of Honeywell's BendixKing business, helping to deliver affordable technologies to the experimental and general aviation markets.
In January 2020, Honeywell announced that it is developing a new line of electromechanical actuators specifically targeted at the urban air mobility market wherein the actuators will use electricity alone to move primary flight control surfaces, in contrast to the hydraulics, cables, and pushrods found on most conventional aircraft and specifically designed to meet the vibration, power, and weight profiles of eVTOL aircraft models.
Stringent Government Regulations Regarding Travel Bans on United States Flights Across Different Parts of the World Due to COVID-19 has Impacted the United Sates' Aerospace Sector Severely and also it has led to Negative Impact on the Demand for Aircraft Actuators in the USA
Analyst Comment
After a healthy global aircraft demand in 2018, the demand for commercial aircraft declined in the 2019 which was expected to regain its growth in the FY 2020 before the COVID-19 pandemic scenario. After the COVID-19 pandemic across the world, the demand for commercial aircraft has been significantly affected as the air passenger traffic is reduced heavily around the world. At the same time, the demand for military aircraft has remained unaffected by the pandemic. Therefore, the commercial aerospace sector is expected to recover slowly, as the demand for air travel is going to recover back to the 2019 level by 2024 which is expected to hamper the growth of aircraft actuators market for the commercial aviation sector. Moreover, the demand for aircraft actuators for military aircraft applications is expected to remain constant during the forecast period which is expected to drive the market demand during the near future.