Aircraft actuators play a vital role in aircraft flight control systems by converting electrical, pneumatic or hydraulic signal into mechanical movement of flight control surfaces such as ailerons, spoilers and flaps. These actuators are crucial components that allow for precise maneuvering capabilities of modern aircraft. Recent focus on development of advanced aircraft technologies such as more electric aircraft, hybrid electric aircraft and autonomous aircraft is fueling demand for lightweight, compact and fuel efficient actuators. Growing deployment of fly-by-wire flight control systems as a replacement to older hydromechanical systems is also propelling the aircraft actuators market.
The global Aircraft Actuators Market is estimated to be valued at US$ 10.33 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the key market trends is the increasing demand for lighter and more compact actuators to improve fuel efficiency of aircraft. With rising fuel costs and focus on reducing carbon footprint of aviation industry, manufacturers are developing new generation of actuators with minimized weight and size. For instance, Honeywell Aerospace has introduced lightweight electromechanical actuators (EMA) that are 40% lighter than existing hydraulic actuators. Additionally, growing preference of hybrid electric and more electric aircraft configurations is spurring R&D in advanced actuator technologies such as piezoelectric actuators and shape memory alloy actuators. Leading aircraft OEMs are collaborating with actuator manufacturers to integrate new innovative actuators in newer aircraft models.
Porter’s Analysis
Threat of new entrants: Low economies of scale and high capital expenditure required pose significant barriers for new players to enter the aircraft actuators market.
Bargaining power of buyers: Aircraft manufacturers have considerable bargaining power as they source from large actuator manufacturers.
Bargaining power of suppliers: Leading actuator manufacturers like Honeywell Aerospace, Moog Inc., and UTC Aerospace Systems have strong bargaining power due to their technical expertise and patent portfolio.
Threat of new substitutes: No cost effective or technologically superior substitutes currently exist for aircraft actuators.
Competitive rivalry: Intense competition exists among major players to gain market share through product innovation and expansion into new applications.
Key Takeaways
The global Aircraft Actuators Market Demand is expected to witness high growth over the forecast period. The global Aircraft Actuators Market is estimated to be valued at US$ 10.33 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
Regional analysis: North America is expected to maintain its dominance in the global aircraft actuators market during the forecast period. This is attributed to the strong presence of manufacturers like Honeywell Aerospace, Moog Inc., and UTC Aerospace Systems in the region. Asia Pacific is projected to witness the fastest growth over the forecast period owing to rising aircraft fleet and production in countries like China and India.
Key players: Key players operating in the Aircraft Actuators market are Cargill Aqua Nutrition, Skretting (Nutreco), Biomar, Alltech, Ridley Corporation Limited, CP Group, Charoen Pokphand Foods (CPF), Nutriad International, BioMar Group, Nutra Blend LLC, Guangdong Haid Group Co., Ltd., Tongwei Group, Avanti Feeds Limited, and Nutrivet BRF S.A. Cargill Aqua Nutrition and Skretting (Nutreco) are the leading players in the global market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
