Global Aerospace Actuators Market To Witness Significant Rise In Revenue During The Forecast Period 2019 – 2029
Aerospace Actuators Market: Introduction
The ‘Aerospace Actuators market’ report, compiled recently by Persistence Market Research, examines the industry in terms of the global expanse, highlighting the present & future growth potential of each region as well as consolidated statistics. The study also presents a precise summary of the competitive milieu, key developments, and application landscape of the Aerospace Actuators market based on the impact of the financial and non-financial facades of the industry.
An aerospace actuator is a component of aircraft that is responsible for moving and controlling various a mechanism and system in the aircraft. Currently, the actuators are used widely in almost all the aircraft systems, from controlling engine speed/velocity to humidification air inside the aircraft, all are controlled with the help of aerospace actuators. Additionally, aerospace actuators also installed in the landing gear, Wings flap, weapon systems, brakes, Rudder, Canards, Elevons, cargo doors etc. for the smooth functioning of all the systems. The actuation is basically done with the valve or lever arrangement according to the need of the system.
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Aerospace Actuators Market: Dynamics
The growth in demand for Aerospace Actuators Market is mainly due to rising production of aircraft as well as from maintenance and repair services across the globe. The rising demand for aircraft is owing to the regular increase in passenger traffic across the globe. Also, the R&D which is carried out on Aerospace Actuators material to optimize its strength as well as decrease the weight of the aircraft increasing its efficiency in recent years. Also, the growing focus of aircraft manufacturers on rapid advancement in technology is anticipated to increase the demand for the global Aerospace Actuators in the upcoming years. Apart from this, the Aerospace Actuators is an integral part of all aircraft, and hence, the development of the aerospace sector in civil as well as the defence will also add up to the growth of the global aerospace actuators market.
However, the factors such as strict standards and guidelines from regulating authorities and the high cost of manufacturing setup are expected to restrain the growth of the aerospace actuators market over the forecast period. However, the prevalent trend to use better technology components for better results will contribute towards the growth of the demand for aerospace actuators during the forecast period.
Aerospace Actuators Market: Segmentation
- Based On The Application, The Aerospace Actuators Market can be segmented as follows:
- Flight Control
- Auxiliary Control
- Utility Actuation
- Others (Including Weapons Bay Door Drive)
- Based on the Aviation Type, the Aerospace Actuators Market can be segmented as follows:
- Commercial Aviation
- Military Aviation
- Private Jet
- Based on the Source of Actuation, the Aerospace Actuators Market can be segmented as follows:
- Mechanical Aerospace Actuator
- Hydraulic Aerospace Actuator
- Electric Aerospace Actuator
- Others (Electro hydrostatic, Piezoelectric, and Pneumatic Aerospace Actuator)
- Based on the Type, the Aerospace Actuators Market can be segmented as follows:
- On the basis of the aircraft type, the Aerospace Actuators Market can be segmented as:
- Narrow Body aircraft
- Wide Body aircraft
- Regional Jet
- Rotary-wing Aircraft
- Civil Helicopters
- Military Helicopters
- Military Transport Aircraft
- Fighter Jets
Aerospace Actuators Market: Regional Outlook
Geographically, the Aerospace Actuators market is segmented into eight regions including North America, the Middle East and Africa, Western Europe, Eastern Europe, Latin America and the East Asia Pacific, South Asia and Oceania.
During the forecast period, North America is expected to hold a major share in the global Aerospace Actuators market followed by Europe and is anticipated to dominate even in the forecast period owing to the significant demand from established OEM aircraft manufacturers in this region. The Asia Pacific Is expected to exhibit high growth in the aviation market owing to robust growth in the aerospace industry. Also, a significant increase in defence spending on fighter jets in the economies of the Asia Pacific such as China, India, and Vietnam is anticipated to contribute to the growth of regional demand of Aerospace Actuators. Rest of the world is estimated to account for a relatively small share of the Aerospace Actuators market.
Aerospace Actuators Market: Market Participants
Some of the market participants operating across the value chain of the global Aerospace Actuators Market are:
- Curtiss-Wright Corporation
- Parker Hannifin Corporation
- Aero Space Controls Corporation
- Moog, Inc.
- Triumph Group, Inc.
- Nook Industries Inc
- Honeywell International Inc.
- Collins Aerospace
- UTC Aerospace Systems
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