CHICAGO, Oct. 18, 2022 /PRNewswire/ -- Aircraft Actuators market size is projected to grow from USD 8.1 Billion in 2022 to USD 11.4 Billion by 2027, at a CAGR of 7.0% from 2022 to 2027 according to a new report by MarketsandMarkets. Market expansion is being driven by the anticipated increase in demand for commercial aircraft as well as the growing adoption of more electric concepts.
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The OEM is projected to dominate market share in the system segment during the forecast period
Based on Installation Type, the Original Equipment Manufacturer (OEM) segment is projected to dominate market share during the forecast period. The market is further segmented into Original Equipment Manufacturer (OEM) and Aftermarket. The demand is affected by the rapidly rising passenger traffic and the rising number of deliveries made to satisfy the demand. It is projected that the driving factor behind fleet modernization initiatives would be the emerging regulations that aim to improve the safety features supplied by aircraft and standardize the functions delivered by certain types of aircraft.
Flight Control System is expected to account for the largest share in 2022
Based on System, the flight control system segment is projected to lead the aircraft actuators market during the forecast period. Fly-by-wire systems are being implemented into aircraft platforms, replacing the physical links between the pilot controls and flight control surfaces with an electronic interface, and are expected to take over the market. Since landing and braking systems contribute to both the safety of aircraft and the passengers and crew that are on board, they are crucial to maintaining the fleets airworthiness and will account for the second greatest segment throughout the forecast period.
The Hydraulics segment is projected to dominate market share in the system segment during the forecast period
Based on system, the hydraulic segment is projected to dominate market share during the forecast period. The market is further segmented into hydraulic, electric hybrid, mechanical, pneumatic and full electric. Due to inherent benefits such variable speed, high power output, stall situation, and overload protection, which are driving market development, there is a strong demand. They are hence appropriate for high-force applications, such as landing gear. OEMs are aiming to use hybrid actuators in the upcoming aircraft generation, nevertheless, as a step before adopting electric actuators over new upcoming aircraft projects.
The Commercial Aviation segment projected to lead Aircraft Actuators market during the forecast period
Based on Platform, the commercial aviation segment is projected to lead the aircraft actuators market during the forecast period. The growing fleet of aircraft, the markets preference for fuel-efficient aircraft, and a growth in airline passengers all contribute to the demand for commercial aircraft.
The Rotary segment projected to lead Aircraft Actuators market during the forecast period
Based on Type, the rotary segment is projected to lead the aircraft actuators market during the forecast period. Rotary actuators are especially effective in automation applications like gates and valves due to their inherent capabilities. For instance, their excellent effectiveness, which varies from 85% to 92% in single rack models and from 92% to 97% in double rack models, is what drives the desire for their incorporation into modern aircraft systems.
Fixed-wing Aircraft is expected to account for the largest share in 2022
Based on Aircraft Type, the fixed-wing aircraft segment is projected to lead the aircraft actuators market during the forecast period. Because of the rapidly expanding worldwide passenger traffic, which is predicted to boost demand for fix-wing aircraft in the commercial and general aviation sectors, there is a simultaneous need for aircraft actuators for integration with the different systems aboard of the aircraft.
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North America is expected to account for the largest share in 2022
The aircraft actuators market industry has been studied for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the largest market share in 2022, and Latin America is projected to witness the highest CAGR during the forecast period. It is anticipated that demand for commercial and general aviation would rise as the regions need for air travel rises. In addition, the top OEMs have expanded their R&D expenditures to produce higher performance electric actuators to meet escalating demand in the aviation sector.
Major players operating in the Aircraft Actuators market include Raytheon Technologies Corporation (US), Curtiss-Wright Corporation (US), Honeywell International Inc. (US), Safran SA (France), Liebherr Group (Germany), Moog Inc. (US), and Eaton Corporation plc (Ireland) are some of the market players.
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