AIRCRAFT ACTUATORS MARKET ANALYSIS

The global aircraft actuators market size was valued at US$ 8.37 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 7.11% from 2022 to 2030. This growth is driven by the increasing demand for aerospace products, growing disposable income, and technological advancements in aircraft technology. Rising number of airlines worldwide and escalating passenger traffic are expected to drive the growth of the global aircraft actuators market during the forecast period. The increased focus on developing more fuel-efficient commercial aircraft will also boost the market.

Global Aircraft Actuators Market: Regional Insights

The global aircraft actuators market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is anticipated to dominate the global aircraft actuators market during the forecast period due to continuous procurement of military aircraft in the U.S. for strengthening the military capabilities, and rise in investments in production of new aircraft and development of airport infrastructures in Canada. There is a rise in demand for private jets in Canada due to growing preference of individual travel, owing to the COVID-19 pandemic. This is also expected to propel growth of the market in North America region.

Furthermore, Asia Pacific is also anticipated to show significant growth in the global aircraft actuators market over the forecast period, owing to rise in passenger demand leading to investment in commercial airline fleet. For instance, in November 2022, China Aviation Supplies signed a mass purchase agreement for 140 Airbus jets worth US$ 17 billion. Moreover, increasing number of aircraft and airlines manufacturers in Japan are investing in development of engine MRO activities in the country, as the passenger influx is likely to increase in the coming years. This is also projected to support growth of the global aircraft actuators market during the forecast period.

Figure 1: Global Aircraft Actuators Market Share (%), By Region, 2022

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Global Aircraft Actuators Market Drivers:

Rising adoption of electric aircraft to boost the market growth

In present times, electric aircrafts have become important sector of development with the rapidly growing aviation industry. This is directly corresponding to a major increase in aviation-related emissions. Nearly 915 million tons of CO₂ emission is caused by the global aviation industry. With the use of electric aircraft, the cost of fuel and carbon footprint can be reduced, along with revolutionizing of air travel. Thus, there is a significant rise in demand for electric aviation, which is further driving the need for sustainable aviation and emission norms all over the world. As a result, the demand for aircraft actuators is growing rapidly across the globe, which is further expected to augment growth of the global aircraft actuators market over the forecast period.

Increasing growth of commercial aviation sector to accelerate the market pace

The commercial aviation industry was adversely impacted by the COVID-19 pandemic, which is now showing major growth in post pandemic times. The industry is likely grow in rapid pace in the coming years. The number of aircraft deliveries is increasing along with the growing air traffic passengers, and launch of novel technologies in this segment. These factors are further driving the demand aircraft actuators all over the world, which is anticipated to fuel growth of the global aircraft actuators market over the forecast period.

Global Aircraft Actuators Market Opportunities:

Increasing adoption of novel techniques by aircraft companies to organize the aircraft actuation systems is expected to create opportunities in the global aircraft actuators market during the forecast period. This in turn is leading to emergence of novel technologies in aircraft actuation systems, such as electromechanical actuators and fly-by-wire power systems. Such technological advancements will remain necessary to gain an advantage in the market. These technologies are likely to become important factor in the growth of this market. Thus, growing adoption of new ways to organize aircraft actuation systems is likely to bring multiple opportunities in the global aircraft actuators market during the forecast period.

Increasing development of remote actuator systems is anticipated to generate ample of growth opportunities in the global aircraft actuators market over the forecast period. The cost of components used in manufacturing is increasing, which is likely to result in production actuators by major established companies capable of bearing the high costs of manufacturing. However, new companies may not be able to survive the market due to this cost increase, which in turn will create burden on well-established companies to adopt new technologies. This in turn is likely to create growth opportunities for these market players in the global aircraft actuators market.

Global Aircraft Actuators Market Trends:

Rise in use of piezoelectric and magnetic actuators is a growing trend

The piezoelectric and magnetic actuators are small in size and provide high energy density as well as support to the aircraft system. The use of these actuators is increasing in aviation industry, which is likely to continue in the market over the forecast future. The aircraft actuators industry is evolving from pneumatic and hydraulic actuator systems to electric actuator systems. Moreover, the adoption of electric options is increase in the aviation industry for reducing emissions, as the aircraft fleet shifts to a clean energy source. Thus, the use of piezoelectric and magnetic actuators is growing, which is expected to drive growth of the market.

Emergence of AI-based technologies is a recent trend

The use of Artificial Intelligence (AI) technologies to design aircraft actuators is increasing, which is likely to improve the efficiency of the actuator systems in the coming years through the use of lightweight materials in the design. Ai is emerging as a vital tool which allows different OEMs to use machine learning for more enhancements in the process of design. Thus, emerging AI technologies in the designing of aircraft actuators is likely to continue in the global aircraft actuators market over the forecast period.

Global Aircraft Actuators Market Restraints:

High cost of aircraft actuators to hinder the market growth

The aviation industry requires higher capital investment, due to which, testing inspecting even a minor component multiple times before installing it in an aircraft becomes important. Due to this, further additional costs, like required R&D cost for the aircraft components is added to overall cost. Aircraft actuators are mainly utilized for increased fuel efficiency and high consumption of fuel, even so to fly at higher altitudes for more distances, adds into the time interval where these components are utilized and require timely maintenance. This further increases cost of these aircraft components including actuators, which is expected to propel growth of the global aircraft actuators market during the forecast period.

Higher consumption of power and other related issues to impede the market growth

The use of pneumatic actuators results in conversion of energy produced from compressed air to mechanical motion. These actuators are an assembly of several systems including air filters, compressors, dryers, lube tubes, and regulators, due to which pneumatic actuators are vulnerable to faults such as air leaks and excessive noise. The maintenance cost related to these issues is relatively high. This factor in turn impacts adoption of these systems, which is likely to hinder growth of the global aircraft actuators market over the forecast period. However, with increasing focus of manufacturers on development of advance systems with enhanced efficiency will support growth of the market in the near future.

Figure 2: Global Aircraft Actuators Market Share (%), By Systems Segment, 2022

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Global Aircraft Actuators Market Segmentation:

The global aircraft actuators market report is segmented into Type, System, and End User.

Based on Type, the market is segmented into Linear, Rotary. Out of which, Linear is expected to dominate the global market over the forecast period and this is attributed to the increasing collaboration among market players for leveraging technological aid and expanding their market presence. The aircraft manufacturing firms around the world are choosing to install linear actuators, owing to their advantages, as the production of defense and commercial aircraft is increasing all over the world. This in turn is likely to boost growth of this segment.

Rotary segment is also expected to witness significant growth in the near future and this is owing to the increasing adoption of rotary aircraft actuators due to their various advantages. Rotary actuators offer advantages such as high efficiency and engagement from 85-92% in single rack models. It offers 92-97% efficiency and engagement in double rack models. These actuators are highly compatible with the automated control system in synchronous actuation systems. Thus, adoption rotary actuators is increasing, further driving growth of this segment.

Based on System, the market is segmented into Hydraulic Actuators, Electrical Actuators, Pneumatic Actuators, and Mechanical Actuators. Out of which, Electrical Actuator is expected to dominate the global market over the forecast period and this is attributed to the increasing demand in military aircraft leading to market player boosting their manufacturing output. For instance, in July 2022, Hanwha Aerospace Co. Ltd, and Vertical Aerospace, started a joint development program for designing, testing, manufacturing, and supplying electromechanical actuators for VX4 electric aircraft of Vertical Aerospace. Such initiatives are likely to drive demand for electrical actuators, which is further expected to propel growth of this segment.

Hydraulic Actuator segment is also expected to witness significant growth in the near future and this is owing to the rise in collaborations among market players and aerospace and technology firms for designing, developing, and manufacturing electric actuator systems for aircraft. For instance, in July 2022, Hanwha Aerospace Co. Ltd, and Vertical Aerospace, started a joint development program for designing, testing, manufacturing, and supplying electromechanical actuators for VX4 electric aircraft of Vertical Aerospace. Such initiatives are likely to drive demand for electrical actuators, which is further expected to propel growth of this segment. For instance, in January 2020, RUAG Australia, made significant improvements in the manufacturing facilities at its Hydraulic Actuator Center of Excellence in Bayswater, Australia. Such initiatives are driving growth of this segment in the global aircraft actuators market.

Based on End User, the market is segmented into Commercial Aircraft, Military Aircraft, and General Aviation Aircraft. Out of which, General Aviation Aircraft is expected to dominate the global market over the forecast period and this is attributed to the rising passenger traffic leading to aircraft and airlines operator investing in fleet modernization programs. For instance, in June 2021, United Airlines accelerated the deferred aircraft order for 45 Boeing 737 MAX deliveries to 2022 and 2023. Thus, such initiatives are likely to drive growth of the market in the near future.

Military Aircraft segment is also expected to witness significant growth in the near future and this is owing to the increasing focus of prominent countries around the world on increasing air forces capability, and increasing defense budget of several economies in recent years. Actuation systems designed for military platforms are of various types ranging from flight controls and utility actuation to missiles that provide innovation and reliability necessary for mission success.

Global Aircraft Actuators Market: Key Developments

In July 2022, Honeywell International Inc. received a contract from Archer Aviation Inc. for providing flight control actuators for its 12 tilt six configurations electric vertical takeoff and landing aircraft.

In March 2021, Raytheon Technologies Corporation’s vertical Collins Aerospace provided the 600^th Thrust Vector Actuation System (TVA) for the Terminal High Altitude Area Defense (THAAD) missile system.

In January 2022, Moog Inc., announced to provide Air Recovery Mission of Gremlin with precision motion control. The company provided innovative avionic technologies to the program, as part of the test for the DARPA.

In July 2022, Moog singed a four-year agreement with Triumph to provide repair, maintenance, and overhaul solutions for cargo door and Boeing 787 landing gear actuation control systems for an operator based in Asia Pacific.

Global Aircraft Actuators Market: Key Companies Insights

The global aircraft actuators market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global aircraft actuators market are Heroux-Devtek Inc., Honeywell International Inc., Liebherr-International Deutschland GmbH, Raytheon Technologies Corporation, Nook Industries Inc., Parker Hannifin Corp., Electromech Technologies, Eaton Corporation PLC, Arkwin Industries Inc., Moog Inc., Woodward Inc., Safran SA, and Triumph Group.

*Definition: Aircraft Actuators are used in a variety of applications across aircraft and avionics. They are able to withstand harsh environments, including strong vibrations and cold temperatures. They also offer increased reliability and efficiency as compared to manual systems.