Global Aircraft Actuator Market Report and Forecast 2024-2032

Global Aircraft Actuator Market Size

The global aircraft actuator market value reached around USD 16.13 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.3% to reach USD 27.96 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Aircraft Actuator Market Growth

Aircraft actuator provides multiple advantages, such as improved aircraft performance and stability with precise control systems, heightened safety through dependable flight controls, and enhanced fuel efficiency. Advanced actuators lower maintenance costs, boost flight comfort, and facilitate automation, reducing pilot workload.

The market also promotes technological innovation, extends aircraft longevity, and supports emerging designs like electric and hybrid aircraft. The overall growth of the aircraft actuator market is driven by increasing air travel demand and technological progress, which in turn stimulates economic growth and further drives the aircraft actuator industry revenue.

Global Aircraft Actuator Market Analysis

The rising application of aircraft actuators in military aircraft owing to the rising defence expenditure in emerging economies of the world is driving the market. Additionally, rapid urbanisation, the growing inclination of manufacturers towards developing lightweight aircraft, and the thriving aviation industry in developing and developed countries are some of the major factors propelling the demand for the aircraft actuator market.

The aircraft actuators market dynamics and trends are driving high demand for light combat aircraft due to escalating geopolitical tensions and the increased risk of military conflicts. Additionally, the market is anticipated to benefit from the rising demand for electric actuators, which offer enhanced efficiency and fuel cost savings.

Global Aircraft Actuator Industry Outlook

As of April 2024, the United States led global military spending between 2022 and 2023 with a 2.3% increase, reaching USD 916 billion. This expenditure constituted 3.4% of the U.S. GDP and accounted for 37% of the world's total military expenditure. China followed with an estimated USD 296 billion in military spending, marking a 6.0% increase, which represented 1.7% of its GDP and 12% of global spending. Russia's military expenditure rose by 8.2% to USD 109 billion, making up 5.9% of its GDP and 4.5% of the global total. India's military spending increased by 4.2% to USD 83.6 billion, equating to 2.4% of its GDP and 3.4% of global expenditure. Saudi Arabia experienced a substantial 17% rise in military spending, reaching USD 75.8 billion, accounting for 8.2% of its GDP and 3.1% of global military expenditure. This increase is boosting the aircraft actuator market revenue, as actuators are crucial for operating advanced weapon systems such as missile guidance and bomb release mechanisms, enhancing mission effectiveness.

In Europe, the United Kingdom's military spending grew by 7.9% to USD 74.9 billion, Germany's by 7.0% to USD 66.8 billion, and France's by 11% to USD 61.3 billion. Ukraine experienced a notable surge in military expenditure, increasing by 51% to USD 64.8 billion, accounting for 37% of its GDP and 2.7% of global spending. Other countries with significant spending increases included Poland, which saw a 75% rise to USD 31.6 billion, and Algeria, with a 76% increase to USD 18.3 billion. In Asia, South Korea's military expenditure rose by 1.1% to USD 47.9 billion, while Japan's increased by 5.0% to USD 51.8 billion. Brazil's spending rose by 3.4% to USD 22.9 billion, Canada's by 6.6% to USD 27.2 billion, and Spain's by 7.3% to USD 22.1 billion.

According to the Bureau of Transportation Statistics, U.S. scheduled airlines recorded 61.12 million passengers in January 2022. February experienced a marginal increase, reaching 61.32 million passengers. There was a significant rise in March, with the number of passengers climbing to 74.82 million. This upward trend continued into April, which saw 71.88 million passengers. In May, passenger numbers were robust at 71.86 million. By September, the count dropped to 63.63 million, but rose to 69.88 million in October and further increased to 70.42 million in November. This upward trend supports aircraft actuator market revenue, as actuators improve passenger comfort through the management of adjustable seating, cabin pressure systems, and climate control, contributing to a more enjoyable flight experience.

Continuous innovation in actuator technology enhances performance and reliability, meeting the evolving demands of the aerospace industry.

• Actuators contribute to precise control of critical flight systems, significantly improving aircraft safety and reducing the risk of accidents.

• Rising air travel and defence spending drive demand for advanced actuators, supporting the growth of the aircraft actuators industry and investment opportunities.

Advanced actuators can be expensive to develop and maintain, impacting overall aircraft costs.

• The intricate design and integration of actuators can lead to complex manufacturing and maintenance processes.

• Reliance on specialized suppliers for key components can create vulnerabilities in the supply chain.

Advances in electric and hybrid aircraft open new markets for specialized actuator solutions.

• Increased defence budgets and geopolitical tensions boost demand for advanced actuators in military applications.

• Growing focus on fuel efficiency and environmental sustainability drives aircraft actuators market demand that enhance aircraft performance and reduce emissions.

Economic downturns or budget cuts in the defence and aerospace sectors can negatively impact actuator sales.

• Evolving regulations and compliance requirements may increase operational costs and complexity.

• Intense competition from global manufacturers can drive down prices and impact profit margins.

Key Players in the Global Aircraft Actuator Market and Their Key Initiatives

Honeywell International Inc.

• Launched electromechanical actuators for urban air mobility vehicles.

• Partnered with Archer Aviation to supply flight control actuation to capture the aircraft actuators market opportunities.

Parker-Hannifin Corporation

• Acquired Meggitt PLC to expand advanced aerospace actuator technologies.

• Divested Aircraft Wheel and Brake Division to focus on core aerospace technologies.

Moog Inc.

• Launched new hydraulic actuators on United Launch Alliance’s Vulcan Rocket's inaugural flight to meet the growing demand of the actuator market.

• Awarded "Supplier of the Year for Innovation".

Collins Aerospace

• Invested USD 30M to expand the Monroe repair facility.

• Participated in multiple EU Clean Aviation projects.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Aircraft Actuator Industry Segmentation

“Global Aircraft Actuator Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Linear

• Rotary

Market Breakup by System

• Hydraulic Actuators

• Electrical Actuators

• Pneumatic Actuators

• Mechanical Actuators

Market Breakup by End User

• Commercial Aircraft

• Military Aircraft

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Aircraft Actuator Market Share

The growth of the aircraft actuators industry provides notable advantages for both commercial and military aviation. In commercial aircraft, actuators enhance passenger comfort by regulating seating, cabin pressure, and climate control, boost fuel efficiency through accurate aerodynamic adjustments, and improve operational efficiency by optimising systems like landing gear and flight controls.

For military aircraft, actuators offer advanced manoeuvrability for intricate operations, bolster the reliability of essential systems such as weapon deployment and landing gear, and support cutting-edge technologies, fostering innovation and enhancing combat effectiveness. Overall, actuators are essential for enhancing performance, safety, and efficiency across different types of aircraft, which in turn drives demand in the aircraft actuator market.

Leading Companies in the Aircraft Actuator Market

The companies deliver technology and manufacturing solutions with a focus on aerospace, building technologies, and performance materials, and is well-regarded for its advanced products and services across various industries.

• Honeywell International Inc.

• Collins Aerospace

• Parker-Hannifin Corporation

• Moog Inc.

• Eaton

Key Highlights of the Report

Aircraft Actuator Market Report Snapshots

Aircraft Actuator Market Size

Aircraft Actuator Market Growth

Aircraft Actuator Market Trends

Aircraft Actuator Companies

Aircraft Actuator Market Regional Analysis