Northbrook, IL 60062 -- (SBWIRE) -- 04/04/2022 -- The Aircraft Actuators Market is expected to reach USD 21.0 billion by 2030, at a CAGR of 8.7% during the forecast period. Aircraft Actuators Market is divided based on End-Use, Type, Technology, System, Application and Wing Type.
The market is driven by various factors, such as the growing trend of more electric aircraft and the expected increasing demand for commercial aircraft, globally.
Electrohydrostatic subsegment is expected to grow with the highest CAGR across the forecast period
The electric hybrid actuators segment has been categorized further into electromechanical, electrohydraulic, and electrohydrostatic. Electrohydrostatic segment is expected to grow at the highest CAGR across the forecast period. The high growth of electro hydrostatic actuators segment can be attributed to their characteristics which include, energy-saving, low maintenance cost, high power density, fail-safe functionality, and easy integration into existing aircraft architecture.
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Widebody aircraft is expected to witness the largest market share during the forecast period
The demand for widebody aircraft is expected to increase globally due to its efficiency, rise in passenger traffic post-COVID-19 impact, and increasing connectivity across all geographical areas of developing regions and developed regions. With the growing manufacturing of a widebody aircraft platform, the demand for aircraft actuators is expected to surge across the forecast period.
The North America market is projected to witness the highest market share from 2020 to 2030
North America leads the aircraft actuators market due to the presence of several large aircraft actuator manufacturers in the region. Prominent market players based in this region include Honeywell International Inc. (US), Collins Aerospace (US), Moog (US), AMETEK (US), and Woodward Inc. (US). These major market players continuously invest in R&D to develop aircraft actuators with improved efficiency and reliability. They are also focused on developing aircraft actuators suitable for state-of-the-art technologies, such as more electric aircraft systems or digital fly-by-wire, rather than using conventional technology in aircraft.
The global aircraft actuators market is dominated by a few globally established players such as Honeywell International Inc. (US), Safran (France), Collins Aerospace (US), Moog (US), AMETEK (US), and Woodward Inc. (US).