The Global Aviation Actuator Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of global Aviation Actuator market which consists of global, regional, and country-wise analysis of the market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, aircraft type, competitive benchmarking, etc.
The modification of the aircraft functionality and the rising manufacturing of Electric Aircrafts is resulting in the growth of the global Aircraft Actuator market. The proliferating demand for advance automated, fuel-efficient, and lightweight aircraft is expected to further augment the demand for actuators in the aviation industry.
Market Analysis and Segmentation
According to MarkNtel Advisors’ research report titled “Global Aviation Actuator Market Analysis, 2020”, the Global Aviation Actuator market is anticipated to grow at a CAGR of around 8.5% during 2020-25. The aircraft actuators are used in the land gear, flight control, position feedback, clutches, seat actuation, landing gears, and electromagnetic brakes, and manual drives in the commercial aircraft, to ensure the safety of the passengers. The increasing use of actuators for performance improvement of the new aircraft and the intensifying demand for the aircraft deliveries in the Asia-Pacific and the Middle East regions, are key factors expected to drive the demand for aircraft actuators in the upcoming years.
Commercial Aviation Sector is Expected to lead the Global Aviation Actuator Market in the Forecast Period
Based on the end-user segmentation, the commercial aviation segment is expected to attain the highest CAGR during the forecast period, as stated in the MarkNtel Advisors’ research report “Global Aviation Actuator Market Analysis, 2020”. The demand for commercial aircraft across the globe has been significantly increasing in the past few years. The trend is expected to continue in the coming future, owing to increasing commercial passenger traffic for vocational tours, business trips, migration purposes. The improving economic conditions of the emerging nations, better standards of living, and rising disposable income of the consumers is resulting in the increasing revenue generation in the aviation sector, and thus leading to high degree of investments.
According to MarkNtel Advisors, some of the key competitors operating in the Global Aviation Actuator market with considerable market share include Honeywell International, United Technologies Corporation, Rockwell Collins, Inc., Parker Hannifin Corp., Eaton, Curtiss-Wright Corporation, Saab AB, and Others, etc.
The companies in the global aviation actuator industry are facing intensive competition from the rivals, in terms of competing prices, product quality, and client servicing. Therefore, many companies are concentrating on product quality improvement and price maintenance.
Moreover, the companies have adopted contract selling, tie-ups, and mergers as their key strategy to sell their product to the end-user industry. In 2018, the Lockheed Martin chose Honeywell International to supply its control actuation system for the company’s Guided Multiple Launch Rocket System Extended Range.