Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Aircraft Actuator Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global aircraft actuator market is showcasing substantial growth with a projected CAGR of 10.1% from 2023. This robust increase is steering the sector to new heights in 2024, as the market capitalization is expected to attain $18.6 billion due to a dynamism powered by burgeoning air passenger traffic, technological innovations, and the demand for enhanced aircraft efficiency.
The surge in flight control actuation systems, crucial for the adjustment and control of aerospace surfaces, reflects the industry's responsiveness to the escalating requirements of both commercial and military aviation sectors. With a diverse range of applications from the cockpit to the cargo bay, the adoption of actuation systems is at an all-time high, promising opportunities for stakeholders across the value chain.
Asia-Pacific Region Takes Flight as Fastest-Growing Market
Among the geographies contributing to the market expansion, the Asia-Pacific region stands out as the fastest-growing segment. This can be attributed to significant economic developments and a spike in disposable income among consumers, leading to increased air traffic and fleet expansion within the region.
- Commercial Aviation's Upturn Drives Demand
- Military Sector's Modernization Fuels Actuator Advancements
- Unmanned Aerial Vehicles (UAVs) Propel Market Innovations
The aircraft actuators market analysis underscores a strong push towards electric and electromechanical actuators, owing to their promising benefits in operational safety, energy efficiency, and system redundancy. Meanwhile, the integration of predictive maintenance and health monitoring systems heralds a new era of reliability and longevity for actuation components.
Technological Breakthroughs Define Market Trajectory
With an increase in consumer demand for quieter, more environmentally friendly, and fuel-efficient aircraft, R&D initiatives are in full swing. Innovations such as the graphene oxide aerogel from the University of Bath point to a revolutionary phase where advancements are not just desirable but critical to the sector's success. The strategic collaborations among industry heavyweights in the delivery of advanced systems and services further influence the comprehensive growth narrative, enabling a holistic upgrade of aviation standards. The report deeply dives into the factors bolstering the market uptrend and the industry’s competitive landscape, highlighting key players that are paving the path towards future growth with strategic moves, such as acquisitions, partnerships, and product innovations.
A selection of companies mentioned in this report includes
- Honeywell International Inc.
- Eaton Corporation
- Moog Inc.
- Parker Hannifin Corporation
- Safran S.A.
- Meggitt plc
- Woodward Inc.
- Sitec Aerospace GmbH
- Progressive Automations Inc.
- Tamagawa Seiki Co. Ltd.
- Aero Space Controls Corporation
- Beaver Aerospace & Defense Inc.
- Rockwell Collins Inc.
- Curtiss-Wright Corporation
- Raytheon Technologies Corporation
- Liebherr Group
- Nabtesco Corporation
- SKF Group
- Arkwin Industries Inc.
- ITT Inc.
- AAR Corporation
- GE Aviation Systems LLC
- TransDigm Group Incorporated
- BAE Systems plc
- Héroux-Devtek Inc.
- Raytheon Technologies Corp.
- Lufthansa Technik AG
- Electromech Technologies LLC
- Hemisphere Engineering Inc.
- United Technologies Corp.
For more information about this report visit https://www.researchandmarkets.com/r/812jxm
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