The global aircraft actuators market revenue was around US$ 14.9 billion in 2021 and is estimated to reach US$ 24.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2022 to 2031.
Aircraft actuators carry out a variety of crucial tasks, including adjusting various flight control surfaces, flaps, rudder, spoilers, slats, and ailerons, extending and retracting landing gear, positioning engine thrust reversers, and inlet guide vanes. It opens and closes cargo or weapon bay doors, among others. Strong vibrations, extreme heat, and extreme cold can all be handled.
Factors Influencing Market Growth
The expansion of commercial aviation operations and rising demand from developing countries. such factors fuel the market growth.
An increase in air travel activity and air traffic as well as an increase in demand for electric actuators create lucrative opportunities in the market.
Due to high aircraft actuator costs, leakage, and maintenance issues are anticipated to hamper the market.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the Government enacted a lockdown, the shutdown of the manufacturing facility, and the late delivery, various aviation actuator suppliers and service providers have experienced a constant decline in revenues across all markets. The demand for airplane actuators is anticipated to follow a similar path and is projected to reach pre-pandemic levels by 2023 as the supply chain interruptions started to fade in 2021 and aircraft deliveries gradually increased to pre-pandemic levels.
Asia-Pacific dominated the market in terms of revenue. This is attributed to increasing India and China aviation sector investments and rising demand for commercial aircraft due to increased air traffic. Commercial aviation activities are expanding and growing demand from developing nations. These elements stimulate market expansion.
The leading competitors in the global aircraft actuators market are:
Raytheon Technologies Corporation
SITEC Aerospace GmbH
TAMAGAWA SEIKI CO. LTD
The global aircraft actuators market segmentation focuses on Application, End Use, Wing Type, Type, and Region.
Segmentation based on Application
Business and General Aviation
Segmentation based on End Use
Segmentation based on Wing Type
Segmentation based on Type
Segmentation based on Region
Rest of Western Europe
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America