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Aircraft Actuators Market to Reach $24.1 Billion, Globally, by 2031 at 5.4%: Allied Market Research
at https://www.alliedmarketresearch.com/request-sample/2464
Surge in operations in commercial aviation, increase in the demand for fuel efficiency, rise in the adoption of electric actuators, remarkable surge in air travel activities & air traffic across the globe are expected to drive the growth of the global aircraft actuators market. In addition, increase in military expenditure, and persistent technological advancements in aircrafts in both developing and developed economies are expected to create ample opportunities for the growth of the global aircraft actuator market.
Based on application, the commercial aviation segment held the largest market share in 2021, holding more than one-third of the global aircraft actuators market share, and is expected to retain its dominant status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 6.4% during the forecast period. The growth of this segment is mainly due to surge in use of actuator in power generation & transmission systems of commercial aircraft. The report also analyses other segments of the market such as Military Aviation, Business and General Aviation, and Unmanned.
Based on end-use, the OEM segment held the largest market share in 2021, holding more than four-fifths of the global aircraft actuators market share, and is expected to retain its dominant status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 5.7% during the forecast period. The growth of this segment is mainly due to increase in aircraft orders from aircraft manufacturers because of rise in air traffic. The report also analyses other segments of the market such as the aftermarket segment.
Based on wing type, the fixed wing segment held the dominating market share in 2021, holding nearly two-thirds of the global aircraft actuators market share, and is expected to retain its dominant status during the forecast period. In addition, same segment is expected to cite the fastest CAGR of 5.8% during the forecast period. Fixed wing aviation is the largest and fastest growing segment owing to rise in use of fixed wing aircraft in the military sector. The report also analyses other segments of the market such as the rotary wing segment.
Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding more than one-third of the global aircraft actuators market share, and is expected to retain its dominant status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 5.9% during the forecast period. The immaculate growth of the market in this region is primarily due to rise in demand for adoption and enhancement of aircraft performance systems and increase in demand for air travel in the region.
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The report analyzes these key players in the global aircraft actuator market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
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