Aircraft Actuator Market Size & Share to See Modest Growth Through 2024
Zion Market Research, the market research group announced the analysis report titled 'Aircraft Actuator Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024'
Global Aircraft Actuator Market: Overview
The increase in the global population and rapid development in technology have led to the increase in demand for civil aircraft. Hence, the aircraft actuator market is expected to boost in the coming period. Aircraft actuators help create a safe journey for all passengers on board. Actuators in aircraft play a crucial role for control and flight. Actuators are used in flaps, landing gear, and weapon systems. They are also used in load limiters, clutches, seat actuation, manual drives, electromagnetic brakes, and position feedback for commercial aircraft. Actuators are needed in nearly all systems of an aircraft including oxygen, air system, fuel, water and hydraulic.
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Global Aircraft Actuator Market: Growth Factors
Increasing urbanization; rising migrants, tourists, and international students; growing middle-class population; and continued economic growth are few factors that contribute to the growth of the global aircraft actuator market. Bilateral air service agreements, flourishing trade among nations, and liberalization is other factors propelling the growth of the global market.
Global Aircraft Actuator Market: Segmentation
The aircraft actuator market can be segmented on the basis of the component, application, aircraft type, and geography. The component segment is further classified as electrical, mechanical, and electronic. The application segment of the global aircraft actuator market is segmented as power distribution, power generation, landing and braking, fuel, flight control, health monitoring, and avionics. The aircraft type segment is further diversified as the wide body, narrow body, and very large body. Narrow body aircraft had the largest market by aircraft type as a result of the rise in increasing passenger traffic, aircraft sales, and technological advancement.
The aircraft actuator market can also be segmented on the basis of product into electric actuators, hydraulic, mechanical, and pneumatic. The hydraulic actuator market is the dominant segment owing to increasing the need for hydraulic actuators in constant speed propellers, operating wheel brakes, and retractable land gear.
Global Aircraft Actuator Market: Regional Analysis
On account of increase in overseas education, disposable income, and migration, Asia-Pacific region is anticipated to observe considerable growth aircraft actuators market. Hence, the Asia-Pacific region is estimated to witness a significant rise in the digit of commercial aircraft and air traffic. The aircraft actuator market in North America is estimated to observe positive growth due to increase in acceptance of the modern standardization strategies for security by North American Airlines. Owing to rising investments in renovating the wide body aircraft in the United States, this region is also estimated to witness positive demand in future. The aircraft production rate of Boeing is expected to increase in the coming period owing to increasing the need for actuators in North America. Increased need for enhancement as a result of high air traffic in developed economies such as North America and Europe has surged to the need for a better reliability and efficiency-backed aviation actuators.
Global Aircraft Actuator Market: Competitive Players
The major players in the aircraft actuator market are Rockwell Collins, Inc., Honeywell Aerospace, Inc., Safran SA, and Vishay Intertechnology, Inc. Other key players influencing the global market include Woodward, Inc., Infineon Technologies AG, Microsemi Corporation, and UTC Aerospace Systems.
Global Aircraft Actuator Market by Regional Segment Analysis: North America (U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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