Market Trends of Aircraft Actuators Industry
Linear Actuators Segment is Anticipated to Show the Highest Growth During the Forecast Period
- The linear actuators segment will showcase significant growth during the forecast period. Compared to hydraulic and pneumatic actuators, electric linear actuators offer the highest precision. Linear actuators are scalable for any purpose or force requirement. Aircraft manufacturing companies prefer electric linear actuators.
- Electric linear actuators can be easily networked and programmed quickly, and immediate feedback for diagnostics and maintenance is available. Electric linear actuators provide complete motion control, offering custom speeds, stroke lengths, and applied forces. Electric linear actuators are quieter than pneumatic and hydraulic actuators. Companies are collaborating to leverage technological aid and expand their market presence.
- For instance, in July 2022, Parker Aerospace announced a partnership to further the development of electric flight. Aviation Aircraft engaged Parker Aerospace to develop six technology system packages for Alice, the first-of-its-kind all-electric commuter aircraft. It features electromechanical actuators, electronic control units, and position sensors. The system would incorporate patented eSync technology, which uses a single electronics control unit to command multiple motor-driven actuators installed along the flaps on the wing, saving space and weight.
- As commercial and defense aircraft production is increasing globally, aircraft manufacturing companies prefer to install linear actuators due to their advantages. Owing to such factors, growth in the linear actuator segment of the market studied is expected to increase in the coming years.
Understand The Key Trends Shaping This Market
Download Sample
Asia Pacific is Projected to Show Significant Growth During the Forecast Period
- Asia Pacific is anticipated to register the highest growth rate during the forecast period. This is mainly due to the increasing investments from India and China in the aviation sector and the rising demand for commercial aircraft due to increased air traffic. In 2020, China became the world's largest aviation market by seats as capacity. The United States cut almost 30% of its seating capacity due to the pandemic thus, China became the largest aviation market.
- For instance, In November 2022, China Aviation Supplies (CASC) officially signed a bulk purchasing agreement for 140 Airbus jets. The order worth USD 17 billion deal comprised CASC's pre-existing orders. Also, in July 2022, Airbus confirmed the signature of multiple aircraft orders with Air China, China Eastern, China Southern, and Shenzhen Airlines for a total of 292 A320 family aircraft, demonstrating an extremely positive recovery momentum for the Chinese aviation market. Such an immense order for aircraft is expected to drive high demand for actuators to be installed on these aircraft, leading to an exponential rise in market growth opportunities during the forecast period.
- Additionally, India has also been extremely focused on upgrading its existing military capabilities. The country's military budget was valued at USD 76 billion, being the third largest in the world after the United States and China. This budget is being used for significant developments with respect to military aircraft for extensive use during the forecast period. Owing to this, drastic new steps are being taken by the Indian government.
- For instance, in October 2022, India's first private consortium for the military - the Tata-Airbus consortium initiated the construction of a manufacturing facility to build the C-295 medium transport aircraft to modernize the Indian Air Force's transportation fleet.
Get Analysis on Important Geographic Markets
Download Sample
