AIRCRAFT ACTUATORS MARKET ANALYSIS

Aircraft Actuators MarketSize and Trends

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 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.