Military Actuators Market Analysis & Growth Forecast Report 2020-2027
The global military actuators market size is expected to reach USD xx billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of xx% from 2020 to 2027. The development of advanced weapons, increasing demand for electric and electromagnetic actuators from the aerospace and defense industry, and the rise in homeland security concerns are some of the major factors driving the market.
Military actuators play a crucial role in the military and defense sector. They are used in motion control to monitor velocity and speed. The use of actuators in the military and defense industries helps to reduce energy consumption. The actuators are installed to enhance the fighting capabilities, which is expected to favor the market growth over the period of time.
Increasing demand for commercial and military aircraft propels the demand for military actuators. The rise in demand for protection applications in marine and aircraft is contributing to market growth. In addition, technological advancement and innovation in ballistic protection are favoring market growth.
The market can be segmented based on components, system, type, and application. The components include cylinders, servo valves, drives, manifolds, and others. Servo valves hold a significant share in the market owing to their use in various applications. Cylinders are projected to witness significant growth over the forecast period.
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Military Actuators Market Report Highlights
- The cylinders’ component segment is projected to expand at a significant CAGR of 5.5% from 2020 to 2027. Servo valves are used in various military applications, and thus are projected to gain a significant share in the market in the years to come
- The hydraulic actuators system segment held the largest share of 24.5% in 2019. However, electrical actuators are projected to replace the hydraulic actuators over the forecast period
- The linear actuators type segment is expected to expand at a CAGR of 5.6% from 2020 to 2027 on account of its high demand in the armored vehicles in land forces
- North America dominated the market with a share of 33.7% in 2019 on account of rising investments in military and defense, rapid technological development, and increasing homeland security concerns
- The major manufacturers emphasize on innovation through extensive R&D for the production of advanced actuators for use in armored vehicles and military equipment.
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Grand View Research has segmented the global military actuators market on the basis of component, system, type, application, and region