An actuator is a system that is used for controlling the movement functions of an aircraft. The product regulates the motion and flow of the aircraft; an integral function as far as the operation of the system is concerned. The high investments towards the development of efficient actuators, driven by the demand for efficient and faster products, will have a positive impact on the growth of the industry in the coming years.

As a result, there have been numerous technological advancements in actuators. The increasing demand for technologically advanced systems has led to improved product efficacies and ultimately increased the demand for the product across the world.

The global aircraft actuator market size is projected to reach USD 16.98 billion by the end of 2026. Recent technological advancements have played a huge part in the growth of the industry in recent years. According to a report by Fortune Business Insights, the industry was worth USD 14.85 billion in 2018 and will exhibit a CAGR of 3.12% during the forecast period, 2019-2026.

A few of the leading companies that are operating in the industry include:

  • Eaton Corporation Inc. (the U.S.)
  • Honeywell International Inc. (the U.S.)
  • Lockheed Martin Corporation (the U.S.)
  • Moog Inc. (the U.S.)
  • Northrop Grumman Corporation (the U.S.)
  • Parker Hannifin Corporation (the U.S.)
  • Rockwell Collins (the U.S.)
  • Saab AB (Sweden)
  • Scitec Aerospace GmbH (Germany)
  • TAMAGAWA SEIKI Co.Ltd. (Japan)
  • The Boeing Company (the U.S.)
  • Woodward Inc. (the U.S.)

Increasing Number of Product Launches Will Aid Growth

The report includes several factors that have made an impact on the growth of the industry in recent years. It discusses a few of the major industry developments of recent times. Among all factors, the increasing number of product launches has made a huge impact on the growth of the industry in recent times.

The emphasis on the adoption of technologically advanced products has compelled companies to introduce newer products at a rapid pace. Due to the accuracy and precision involved in aircraft operations, it is necessary to adopt products with the highest efficiency. The increasing number of technological advancements will help companies generate substantial aircraft actuators industry revenue in the coming years.

Key Considerations for Market Forecast:

  • Impact of Pandemic, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

North America Dominates the industry; Presence of Several Large Scale Companies Will Aid Growth

The report analyzes the ongoing aircraft actuators industry trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, North America holds the highest aircraft actuators industry share in recent years. The massive investments towards the adoption of modern actuators will bode well for the growth of the regional industry.

As of 2018, the industry in North America was worth USD 8.17 billion and this value is projected to increase further in the coming years. The industry in Europe will also witness considerable growth in the coming years, owing to the up-gradation of existing actuators for improved reliability.

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