Dublin, March 27, 2019 (GLOBE NEWSWIRE) -- The "Military Actuators Market by Application (Air, Land, Naval), System (Electrical, Hydraulic, Pneumatic, Mechanical), Component (Cylinders, Drives, Servo Valves, Manifolds), Type (Linear, Rotary), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The military actuators market size is expected to grow from USD 1.1 billion in 2019 to USD 1.4 billion by 2024, at a CAGR of 5.79% during the forecast period.
Military automation is the latest trend in the global defense industry. Most countries across the globe have started adopting military automation to enhance their combat capabilities. This has led to an increased demand for military actuators, worldwide. The development of new and advanced electrical actuators with improved permanent magnet materials has led to their increased robustness and efficiency.
Light tactical vehicle (by platform) in land segment is expected to grow at the highest CAGR during the forecast period
The light tactical vehicle segment is expected to be the fastest-growing land application segment during the forecast period. Increasing instances of cross-border terrorist attacks have resulted in an increased demand for light tactical vehicles for carrying out patrolling and reconnaissance activities. This, in turn, is expected to contribute to the rise in demand for military actuators used in these systems.
Fighter aircraft (by platform) in air segment is expected to lead the market for military actuators during the forecast period
Fighter aircraft is expected to be the largest air application segment during the forecast period. The global demand for fighter aircraft is projected to grow rapidly in the coming years. The delivery of the Gripen aircraft is also expected to increase by 2019. Thus, increased demand for fighter aircraft across the globe is expected to contribute to the rise in demand for military actuators used in them.
The Asia Pacific military actuators market is expected to grow at the highest growth rate during the forecast period
The military actuators market in the Asia Pacific region is projected to grow at the highest CAGR market during the forecast period, due to an increase in the number of military aircraft deliveries in the region. This is expected to lead to rising demand for military actuators in the region, thereby fueling the growth of the Asia Pacific military actuators market. Moreover, increased demand for mini electrical actuators for use in advanced driver assistance and aircraft sensors is also expected to fuel the growth of the military actuators market in the country
The military actuators market comprises major solution providers, such as Curtiss-Wright (US), Moog (US), Parker Hannifin (US), Honeywell (US), Triumph Group (US), Meggitt (UK), Venture Mfg. Co (US), Kyntronics (US), and Nook Industries (US).
Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Research Approach & Methodology
2.3 Triangulation & Validation
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions
2.6 Risks
2.7 Others
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Military Actuators Market From 2019 to 2024
4.2 Military Actuators Market, By Component
4.3 Military Actuators Market, By System
4.4 Military Actuators Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Ongoing Military Automation Across the Globe
5.2.1.2 Increasing Demand for Electrical Actuators from the Aerospace & Defense Industry
5.2.2 Opportunities
5.2.2.1 Development of Miniaturized Military Actuators
5.2.2.2 Use of Advanced Military Actuators in Different Applications
5.2.3 Challenges
5.2.3.1 Formulation and Stringent Implementation of Various Regulatory Norms
5.2.3.2 Issues Related to Power Consumption, Noise and Leakage
5.2.3.3 High Overhaul and Maintenance Cost of Military Actuators
6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.3 Regulatory Landscape
6.4 Patent Listings, 2014-2015
7 Military Actuators Market, By Application
7.1 Introduction
7.2 Land
7.3 Air
7.4 Naval
8 Military Actuators Market, By Component
8.1 Introduction
8.2 Cylinders
8.3 Drives
8.4 Servo Valves
8.5 Manifolds
8.6 Others
9 Military Actuators Market, By System
9.1 Introduction
9.2 Hydraulic Actuators
9.3 Electrical Actuators
9.4 Pneumatic Actuators
9.5 Mechanical Actuators
9.6 Other Actuators
10 Military Actuators Market, By Type
10.1 Introduction
10.2 Linear Actuators
10.3 Rotary Actuators
10.4 Multi-Axis Positioning Actuators
10.5 Semi-Rotary Actuators
11 Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Rest of the World
12 Competitive Landscape
12.1 Introduction
12.2 OEM Competitive Leadership Mapping
12.3 Start-Ups Competitive Leadership Mapping
12.4 Ranking of Key Players, 2018
12.5 Competitive Scenario
13 Company Profiles
13.1 Curtiss-Wright
13.2 Triumph Group
13.3 Moog
13.4 Meggitt
13.5 Venture Mfg. Co.
13.6 Parker Hannifin
13.7 Kyntronics
13.8 Nook Industries
13.9 AMETEK
13.10 Ultra Motion
13.11 EME EleKTro-Metall
13.12 Whippany Actuation Systems
13.13 Beaver Aerospace & Defense
13.14 Arkwin Industries
13.15 Hunt Valve
13.16 Temis SRL
13.17 Honeywell
13.18 Safran
13.19 Woodward
13.20 Innovators
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