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"Aircraft actuator market expected to be driven by the power generation systems application”
The aircraft actuator market is expected to reach 20.13 billion by 2022 at a CAGR of 9.5% between 2016 and 2022. An increasing trend to adopt the more electric aircraft (MEA) concept has resulted in an increasing number of electronic components replacing the traditional mechanical or hydraulic components. This has resulted in an increased power requirement for electronic components, further increasing the demand for power generation systems and would be the major driver for the growth of the aircraft actuator market.
Among all the actuator types, hydraulic actuators accounted for the largest market share in 2015. Hydraulic actuators are the most powerful type of actuators which deliver high power and better control with a good response time, and without utilizing much space, because of which they are widely used as part of aircraft machineries.
“Converters expected to be fastest-growing electronic components during the forecast period”
Among all the electronic components types, converters accounted for the largest market share in 2015 and the market for the same is estimated to grow at the highest CAGR between 2016 and 2022. Due to the emergence of the more electrical aircraft concept, the requirement of electricity generation and distribution in aircraft would increase significantly; this would give rise to the associated components market including converters.
Breakup of primaries:
- By Company Type - Tier 1 - 40%, Tier 2 - 40%, and Tier 3- 20%
- By Designation – C-Level - 30%, Director Level - 50%, and Others - 20%
- By Region – North America - 40%, Europe - 30%, APAC - 20%, and RoW - 10%
Key players in the aircraft actuator market include Honeywell Aerospace, Inc. (U.S.), Rockwell Collins, Inc. (U.S.), Safran SA (France), UTC Aerospace Systems (U.S.), Woodward, Inc. (U.S.), Microsemi Corporation (U.S.), Infineon Technologies AG (Germany), and Vishay Intertechnology, Inc. (U.S.) among others.
Reasons To Buy the report:
- This report includes the market statistics pertaining to component, aircraft type, and application along with their respective market size.
- The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the aircraft actuator market.
- Major drivers, restraints, and opportunities for the aircraft actuator market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for markets based on component, aircraft type, and application have been conducted to give an overall view of the aircraft actuator market.
- A detailed competitive landscape has been given which includes key players, in-depth analysis, and revenue of key players.