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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Aircraft Actuator Market Trends
Rising Application of Aircraft Actuators in the Military and Defence Sector to Boost the Growth of the Aircraft Actuator Industry
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 growth of the aircraft actuator market. Over the forecast period, a high demand estimated for light combat aircraft, owing to the rising geopolitical tensions and increasing risk of military confrontation, will drive the demand for actuators. Furthermore, the market is expected to be aided by the growing demand for electric actuators to achieve greater efficiency and cost cutting of fuel.
Aircraft Actuator Market Report Snapshots
Aircraft Actuator Market Growth
Aircraft Actuator Market Trends
Aircraft Actuator Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global aircraft actuator market attained a value of nearly USD 16.13 billion.
The market is projected to grow at a CAGR of 6.3% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 27.96 billion by 2032.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The major drivers of the industry, such as the rising application of aircraft actuators in the aviation industry, increasing government investments in the military and defence sector, and the growing demand for electric actuators, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing technological advancements and the increasing R&D activities in the aviation industry.
Based on the type, the market is divided into linear and rotary.
Hydraulic actuators, electrical actuators, pneumatic actuators, and mechanical actuators are the major segments based on system, considered within the market report.
Commercial aircraft and military aircraft are the different end users of the product.
The competitive landscape consists of Honeywell International Inc., Collins Aerospace, Parker-Hannifin Corporation, Moog Inc., and Eaton, among others.
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