Commercial Aircraft Actuation System Market
Commercial Aircraft Actuation System Market Size was valued at USD 654.9 Billion in 2022. The Commercial Aircraft Actuation System market industry is projected to grow from USD 689.1 Billion in 2023 to USD 1036.1 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 5.23% during the forecast period (2023 - 2032).
The defense units of many countries are strengthening their position globally by manufacturing combat planes, helicopters, and transport aircraft. In 2014, the U.S. possessed 14,000 military aircraft, Russia had 4,000, China had 3,000, and India had 2,000. Thus, increase in number of aircrafts is expected to drive the market. However, high cost associated with autopilot system is the major restraint that could hinder the market.
Military Commercial Aircraft Actuation System Market development is being positively impacted by factors like the focus on updating outdated military aircraft and the rising utilization of combat aircraft in military missions. Additionally, the need for new combat and trainer aircraft is being driven by an increase in defense spending, particularly in developing nations.
By manipulating levers and flaps, a military aircraft actuation system assists in extending and retracting landing gear, monitoring and controlling velocity, and modulating engine speed. The actuation systems are driven by a variety of energy sources, including electricity, hydraulic fluid pressure, and pneumatic pressure, which transform energy into motion. Additionally, increasing RD spending will accelerate market expansion. During the projected period, it is anticipated that the rising popularity of automation and combat aircraft would increase.
Several reasons, including the expanding use of electric aircraft concepts and the anticipated rise in demand for commercial aircraft internationally, are driving the industry.
The creation of high-tech, lightweight electric aircraft actuators is to blame for the expansion of the aircraft actuators market in North America. The need for aircraft actuators in the area is also driven by rising air passenger traffic, which also results in a rise in aircraft deliveries.
The expansion of the market may be ascribed to elements including enhanced commercial aviation infrastructure, an increase in air travel, and the development of fuel-efficient aircraft.
The purchase of new aircraft by airlines and defense organizations throughout the globe is another factor fuelling market expansion. One of the main reasons propelling the airplane actuators market is the desire for lightweight electric actuation systems to fulfil the demands of future aviation passenger traffic.
The rising need for fuel-efficient aircraft in North America, Asia Pacific, and Europe is another factor driving market expansion.
Key Players
The key players of the global Commercial Aircraft Actuation System Market are Honeywell, Moog, Parker Aerospace, UTC Aerospace Systems, and Eaton. In 2016, the top 5 players accounted for XX% share in global market.
Market Research Analysis
The global Commercial Aircraft Actuation System Market has been analyzed based on the three segments, namely type, aircraft type and regions.
On the basis of type, the global Commercial Aircraft Actuation System Market is segmented as electric, hydraulic, pneumatic and mechanical. The hydraulic actuation systems are expected to dominate the market with largest share. The growth of the segment can be attributed to increasing demand in operating wheel brakes, land gear, and speed propellers. On the other hand, there is a shifting trend towards electric actuators. Thus, advancements in electric actuators recently is expected to significantly boost the growth of the segment during the forecast period.
Based on aircraft type, the market is bifurcated as narrow body, wide body and others. The narrow body segment is expected to witness exponential growth in North America due to rise in aircraft sales, technological advancement, and increasing passenger traffic.
Market Segmentation
This study provides an overview of the global Commercial Aircraft Actuation System Market statistics, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Commercial Aircraft Actuation System Market by its type, by aircraft type and region.
By Type
Electric
Hydraulic
Pneumatic
Mechanical
By Aircraft Type
Narrow Body
Wide Body
Others
By Region
Asia Pacific
North America
Europe
Rest of World
Regional Analysis:
The market for military aircraft actuation systems is dominated by North America. Due to the presence of many major combat aircraft producers (including Lockheed Martin, and Northrop Grumman) and actuation system suppliers (including UTC, and Honeywell), the area has a significant market share.
Additionally, it is anticipated that the US military would get USD 674 billion in assistance in 2019 for new destroyers, fighter planes, and Black Hawk helicopters, among other things, which has an indirect impact on the military aircraft actuation systems in this region.
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