Aircraft Actuator Market 2024 – Share, Ongoing Trends, Size, Growth Rate And Key Players

Overview and Scope
The aircraft actuators are used to adjust flight control surfaces such as elevators, rudders, ailerons, flaps, slats, and spoilers. Aircraft actuators are mechanical devices that can transfer and divert motion energy from one form to another. In the aviation sector, actuation systems are used in a variety of ways. It is responsible for everything from cargo bay doors and landing gear to engine components and flight control surfaces.

Sizing and Forecast
The aircraft actuator market size has grown rapidly in recent years. It will grow from $16.89 billion in 2023 to $18.6 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%.  The  growth in the historic period can be attributed to strong economic growth, increased demand for commercial aircraft, expansion of the aerospace and defense industry, stringent environmental regulations, demand for quieter and more comfortable aircraft.

The aircraft actuator market size is expected to see strong growth in the next few years. It will grow to $26.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.  The growth in the forecast period can be attributed to increasing consumer disposable income, investment in aircraft fleet expansion, growing demand for unmanned aerial vehicles (uavs), rising emphasis on fuel efficiency . Major trends in the forecast period include electromechanical actuators, health monitoring and predictive maintenance, advanced materials, enhanced safety and redundancy, eco-friendly actuation systems.

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Segmentation & Regional Insights

The aircraft actuator market covered in this report is segmented –

1) By Actuators Type: Hydraulic, Pneumatic, Electric, Electromechanical, Electrohydrostatic

2) By Motion: Linear, Rotary

3) By Platform: Fixed Wing, Rotary Wing

4) By End User: Commercial Aircraft, Military Aircraft, Other End Users

Top Major Players
Honeywell International Inc.
Eaton Corporation
Moog Inc.
Parker Hannifin Corporation
Safran S.A.

North America was the largest region in the aircraft actuators market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft actuator market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increase in passenger traffic across the world is expected to drive the growth of the aircraft actuators market going forward. Aircraft actuators are used to perform numerous functions, such as adjusting flight control surfaces such as the elevator, rudder, and ailerons, among others. Due to continued economic growth and rising consumer spending, people from developing countries are increasing air passenger traffic, which is driving the growth of aircraft actuators. For instance, according to the International Air Transport Association (IATA), total global passenger traffic in March 2022 increased by 76.0% compared to March 2021. Also, in China, domestic air traffic increased by 11.7% in March 2022. Therefore, the increasing passenger traffic across the world is driving the growth of the aircraft actuator market.

Key Industry Players
Major companies operating in the aircraft actuator market include  Honeywell International Inc., Eaton Corporation, Moog Inc., Parker Hannifin Corporation, Safran S.A., Meggitt plc, Woodward Inc., Sitec Aerospace GmbH, Progressive Automations Inc., Tamagawa Seiki Co. Ltd., Aero Space Controls Corporation, Beaver Aerospace & Defense Inc., Rockwell Collins Inc., Curtiss-Wright Corporation, Raytheon Technologies Corporation, Liebherr Group, Nabtesco Corporation, SKF Group, Arkwin Industries Inc., ITT Inc., AAR Corporation, GE Aviation Systems LLC, TransDigm Group Incorporated, BAE Systems plc, Héroux-Devtek Inc., Raytheon Technologies Corp., Lufthansa Technik AG, Electromech Technologies LLC, Hemisphere Engineering Inc., United Technologies Corp.

The aircraft actuator market report table of contents includes:
1. Executive Summary
2. Aircraft Actuator Market Characteristics
3. Aircraft Actuator Market Trends And Strategies
4. Aircraft Actuator Market – Macro Economic Scenario
5. Global Aircraft Actuator Market Size and Growth
…………………………
31. Global Aircraft Actuator Market Competitive Benchmarking
32. Global Aircraft Actuator Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aircraft Actuator Market
34. Aircraft Actuator Market Future Outlook and Potential Analysis
35. Appendix

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