Global Aviation Actuator System Market Overview
Global aviation actuator system market stood at $ 831.3 million in 2018 and is projected to grow at a CAGR of over 5% during the forecast period to reach $ 1121.2 million by 2024, on account of increasing demand for electric aircraft and automation. The aviation industry is witnessing technological advancements in aircraft models, which is contributing to developments in actuator systems. Aviation actuator system is used in landing gears, clutches and electromagnetic brackets for commercial aircraft. Surging population and declining air fares are driving the aviation market, which in turn is propelling global aviation actuator system market. Moreover, integration of Internet of Things (IoT) in aviation industry is expected to have a positive influence on global aviation actuator system market during forecast period.
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Global Aviation Actuator System Market Segments
Based on product type, global aviation actuator system market can be categorized into electrohydraulic, electromechanical, electro hydrostatic and electric segments. Features, such as high reliability, higher acceleration & stall torque capabilities and effectiveness of electrohydraulic actuator in handling impulse load can be attributed to the segment’s dominating share in the market. In terms of aircraft type, the market can be segmented into narrow body aircraft, wide body aircraft, very large aircraft, transport aircraft and fighter aircraft. Wide body aircraft segment is anticipated to register the fastest growth rate during the forecast period, owing to increasing passenger traffic and high efficiency of the aircraft when compared with other segments. Flight control application segment dominated the market in 2018 and is likely to witness high growth through 2024, backed by the use of large number of actuators in this application.
Global Aviation Actuator System Market Regional Insights
Aviation actuator system market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. North America dominates global aviation actuator system market and the region is expected to maintain its leading market position in coming years, on account of low oil prices and expansionary fiscal and monetary policies. Moreover, manufacturers in the region are focusing on emission-free and fuel-efficient aircraft with efficient aviation actuator system.
Global Aviation Actuator System Market Competitive Landscape
Major players operating in global aviation actuator system market are GE Aviation, United Technologies Corporation, Honeywell International Inc, Parker Hannifin Corporation, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Honeywell International Inc. is using electromechanical technologies to offer diverse suite of actuators.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast global aviation actuator system market size.
- To classify and forecast global aviation actuator system market based on product, aircraft type, application, end-user and regional distribution.
- To identify drivers and challenges for global aviation actuator system market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global aviation actuator system market.
- To conduct the pricing analysis for global aviation actuator system market.
- To identify and analyze the profile of leading players operating in global aviation actuator system market.
Some of the leading players in global aviation actuator system market are GE Aviation, United Technologies Corporation, Honeywell International Inc, Parker Hannifin Corporation, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated global aviation actuator system market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Providers or Suppliers of Actuator Parts
- Subcomponent Manufacturers
- Defense Aircraft Actuator System Manufacturers
- Commercial Aircraft Actuator System Manufacturers
- Government bodies such as regulating authorities and policymakers
- Organizations, forums and alliances related to aviation actuator system market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.
In this report, global aviation actuator system market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Product:
o Electro Hydrostatic
- Market, by Aircraft Type:
o Narrow Body Aircraft
o Wide Body Aircraft
o Very Large Aircraft
o Transport Aircraft
o Fighter Aircraft
- Market, by Application:
o Flight Control
o Landing Gear
o Auxiliary Control
- Market, by End-User:
o Commercial Aviation
- Market, by Region:
o North America
? United States
? South Korea
? Rest of Asia-Pacific
? United Kingdom
? Rest of Europe
o Middle East & Africa
? Saudi Arabia
? Rest of Middle East & Africa
o South America
? Rest of South America
Company Profiles: Detailed analysis of the major companies operating in global aviation actuator system market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).