According
to a new report on the aviation actuator system market, published by
Transparency Market Research, the global
aviation actuator system market is expected to reach value of
US$ 2283.9 Mn by 2026, expanding at a CAGR of 6.4% from 2018 to 2026.
According to the report, the global market is likely to continue to
be influenced by a range of macroeconomic and market-specific
factors. In terms of demand, Asia Pacific is projected to continue to
lead the global market, with the market in the region expanding at a
CAGR of 7.3% between 2018 and 2026.
Rising demand for defense aircraft driving
the global aviation actuator system market
The global aviation actuator system market has
witnessed strong growth over the last decade. The primary factor
driving the market is rising demand for defense aircraft worldwide.
In the wake of growing security concerns, increasing military
capabilities by countries across the globe, and increasing
expenditure on the defense sector, the demand for military aircraft
is increasing. Thus, the surging demand for military aircraft is
estimated to raise the demand for aviation actuator systems to be
used in these aircraft during the forecast period. The shift toward
using electric actuators is a major trend being witnessed in the
global aviation actuator system market. Some of the leading aircraft
manufacturers are shifting toward use of electric actuators instead
of hydraulic actuators, due to advanced characteristics of electric
actuators. For instance, Lockheed F35, Boeing 787 Dreamliner, and
Airbus A380 have replaced hydraulic or pneumatic actuators with
electric actuators.
Global Aviation Actuator System Market:
Scope of Report
The global aviation actuator system market has
been broadly segmented in terms of actuator type, application,
end-use, and region. Based on actuator type, the market has been
segmented into mechanical actuator, hydraulic actuator, electric
actuator, and others. The mechanical actuator segment was the
dominant segment, holding 34.83% share of the global market, in terms
of revenue, in 2017. It is expected to expand at a significant CAGR
of 6.7% during the forecast period.
This is primarily attributable to high demand for
mechanical actuators in the aerospace industry. In terms of
application, the global aviation actuator system market has been
divided into flight control, auxiliary control, utility actuation,
and others. The utility actuation segment is expected to expand at a
high CAGR of 7.2% from 2018 to 2026, due to rising consumer
inclination toward high-reliability actuators and actuation
components used in the aviation industry. Based on end-use, the
market can be segregated into commercial aviation and defense. The
commercial aviation segment is anticipated to register the maximum
CAGR during the forecast period, owing to various initiatives taken
for the development of electric aircraft.
Among regions, North America is anticipated to
hold the maximum share of the global market, while the market in Asia
Pacific is anticipated to expand at the maximum CAGR during the
forecast period. In 2017, North America accounted for 39.49% share of
the global aviation actuator system market. This is attributable to
increasing demand from major aircraft companies in the region, which
include Bombardier and Boeing. Furthermore, the market in Asia
Pacific is anticipated to expand significantly between 2018 and 2026,
due to rising disposable income and growing middle-class population
across the region.
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