Market Challenges And Opportunities

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 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.