Market Size of Aircraft Actuators Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.42 Billion |
| Market Size (2029) | USD 13.49 Billion |
| CAGR (2024 - 2029) | 7.44 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aircraft Actuator Manufacturers Market Analysis
The Aircraft Actuators Market size is estimated at USD 9.42 billion in 2024, and is expected to reach USD 13.49 billion by 2029, growing at a CAGR of 7.44% during the forecast period (2024-2029).
- The rapid transmission of COVID-19 in the Asia-Pacific, the United States, and Europe led to a noteworthy drop in demand for aircraft actuators. There was a consistent decrease in revenues for several aircraft actuator suppliers and service providers across all markets due to the limited availability of equipment, manufacturing shutdown, and late delivery. As the supply chain disruptions subsided in 2021 and aircraft deliveries gradually recovered to pre-pandemic levels, the demand for aircraft actuators is also expected to follow a similar trend and is likely to attain pre-pandemic levels by 2023.
- Expanding air transportation services and an increase in the number of commercial aircraft fleets have become essential for each country to enhance their connectivity to the world for superior international transportation activities and economic growth. Therefore, various airlines worldwide are investing in procuring advanced aircraft fleets with lightweight and fuel-efficient capabilities. The growing investments toward the expansion of the fuel-efficient fleets of airlines are expected to drive the growth of the market.
- The aviation industry is constantly evolving with respect to aircraft actuator systems. As it is very crucial for aircraft actuator systems to withstand strong vibrations, cold, and heat, various manufacturers globally are working together to ensure that the products are efficient, streamlined, and cost-effective. Over the past few years, the source control signals, as well as power for actuators onboard aircraft, have evolved drastically. Starting with manual sources like cables and rods, actuation technology gradually advanced to hydraulically- and electrically-driven solutions.
- 3D printing has made the design and implementation of actuators faster, less expensive, and simpler. It also enables the incorporation of all actuator components into a single structure, thus eliminating the need to use external joints, adhesives, and fasteners. The market for actuators is anticipated to grow quickly once 3D-printed actuators become fully operational in the aerospace sector.
