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Aircraft Actuators Market Size

Report ID: GMI7556
Published Date: Dec 2023
Report Format: PDF

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Aircraft Actuators Market Size

Aircraft Actuators Market was valued at over USD 8.5 billion in 2022 and is estimated to register a CAGR of over 7% between 2023 and 2032. The global air travel industry is expected to grow steadily in the coming years, driven by factors such as increasing disposable incomes, rising urbanization, and growing business travel. This growth in air traffic will lead to an increased demand for new aircraft, which in turn will drive demand for aircraft actuators.

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For instance, in January 2023, Parker Hannifin, a global leader in motion and control technologies, announced that it has been selected to supply electrohydraulic actuators for the COMAC C919, China's first domestically developed large commercial passenger aircraft. The actuators will be used in various applications on the aircraft, including the landing gear, flaps, and slats. The global fleet of aircraft is aging, and many aircraft are approaching or exceeding their design lifespans. This aging fleet will require more frequent maintenance and repair, which will drive demand for replacement actuators. Airlines are under increasing pressure to reduce their fuel consumption and carbon emissions. This is leading to a demand for more fuel-efficient aircraft, which often require lighter and more efficient actuators. There have been significant advancements in actuator technology in recent years, such as the development of electromechanical actuators (EMAs) and hydraulic actuators with integrated electronics. These advancements are leading to more efficient, reliable, and lightweight actuators, which are in high demand from aircraft manufacturers.

Aircraft Actuators Market Report Attributes
Report Attribute	Details
Base Year:	2022
Aircraft Actuators Market Size in 2022:	USD 8.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7%
2032 Value Projection:	USD 18 Billion
Historical Data for:	2018 - 2022
No. of Pages:	250
Tables, Charts & Figures:	395
Segments covered:	Actuators type, aircraft type, application, end use, installation type, and region
Growth Drivers:	Increasing aircraft production Advancements in aviation technology Rising focus on fuel efficiency Growing demand for Unmanned Aircraft Systems Aerial Vehicles (UAVs) Growing focus on sustainability and environmental impacts
Pitfalls & Challenges:	High development & maintenance costs Stringent regulatory standards

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The design, development, and maintenance of advanced aircraft actuators involve substantial costs. The high initial investment and ongoing expenses can be a significant barrier, particularly for smaller aircraft manufacturers and operators. Also, the aviation industry is subject to strict regulatory standards & certifications. Compliance with these standards adds complexity and time to the development and integration of new technologies, potentially slowing down the adoption of advanced actuators.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market size for aircraft actuators was valued at USD 50 billion in 2022 and is estimated to register a CAGR of over 6% between 2023 and 2032 driven by increasing disposable incomes, rising urbanization, and growing business travel.

The hydraulic actuators segment dominated the aircraft actuators industry with a share of over 45% in 2022 and is estimated to reach over USD 8 million by 2032, owing to their utility in aircrafts for reliability and performance.

North America market size for aircraft actuators held a revenue share of over 23% in 2022 and is predicted to witness substantial growth through 2032 driven by booming aviation sector in the region, along with a strong base of precision engineering companies that specialize in actuator manufacturing.

Rockwell Collins (now part of Raytheon Technologies), Honeywell Aerospace, Moog Inc., UTC Aerospace Systems (now part of Raytheon Technologies), Safran Group, Woodward, Inc are some of the major industry contenders.