Aerospace Actuators Market is Forecast to Reach US$ 13.4 Billion in 2028, Says Stratview Research

The Aerospace Actuators Market is likely to grow at a significant CAGR of 4.8% during 2023-2028, to reach US$ 13.4 Billion in 2028, states Stratview Research.

DETROIT, Dec. 12, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the aerospace actuators market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Aerospace Actuators Market

The aerospace actuators market is segmented based on platform type, actuator type, actuator technology type, end-user type, and region.

Based on platform type- The aerospace actuators market is segmented into commercial aircraft, regional aircraft, general aviation, helicopters, defense, UAVs, and space. Commercial aircraft is expected to remain the market's largest and fastest-growing platform type during the forecast period. A rise in the production rates of various commercial aircraft and upcoming aircraft programs is anticipated to boost market demand in the coming years.

Based on actuator type- The market is segmented into primary flight control actuators, secondary flight control actuators, landing gear, thrust reversers, engine control, utilities, seats, weapon release, missiles, and others. The primary flight control actuator is expected to remain the dominant actuator type in the market, followed by secondary flight control actuators during the forecast period, owing to the high focus on safer and lighter flight control systems and the usage of many actuators.

Based on actuator technology type- The market is segmented into hydraulic actuators, electric actuators, pneumatic actuators, and other actuators. Hydraulic is expected to remain the dominant actuator technology type in the market during the forecast period. Hydraulic actuators are easy to maintain and generate enough power to operate control surfaces with less weight & space. However, electric actuators are expected to replace conventional technologies due to their high efficiency, increased electric power, and precise level of control.

Based on end-user type- The aerospace actuators market is segmented into OE and aftermarket based on the end-user type. OE is estimated to remain the larger end-user type until 2028. Aftermarket held a smaller share of the market in 2022. Aerospace actuators have a long life usually aligned with the life of aircraft.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is anticipated to maintain its dominance in the aerospace actuators market.

This growth is majorly attributed to the following –

• With one of the world's largest fleets of both commercial and military aircraft, the USA is the market's growth engine.
• Most of the major players in the aerospace actuators market have their presence in the region to cater to the emergent needs of OEMs and be their partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Over the next five years, Asia-Pacific is expected to grow at the fastest rate in the market owing to rising demand for commercial aircraft to accommodate growing passenger traffic, rising defense spending in important economies, the opening of Boeing and Airbus assembly plants, and the coming of indigenous commercial aircraft.

Aerospace Actuators Market Drivers

Some of the key drivers listed in the report are given below.

• An expected rise in the production rate of key programs.
• Entry of programs (B777x, C919, and MC-21).
• An expected rise in the aircraft fleet size.

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Top 10 Companies in Aerospace Actuators Market?

The market is moderately concentrated, with the presence of some regional and global players. An inorganic growth strategy is preferred, especially by the leading players. Several crucial M&As led to several changes in the competitive landscape. The following are the key players in the aerospace flight control systems market:

• Collins Aerospace
• Moog Inc.
• Parker Hannifin Corp
• Woodward Inc.
• Liebherr Group
• TransDigm Group
• Triumph Group
• Curtiss-Wright Corporation
• Honeywell Aerospace
• Safran S.A.

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Aerospace Flight Control Actuators Market
• Aerospace Pilot Control Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers to take convincing business decisions.

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