PUBLISHER: SkyQuest | PRODUCT CODE: 1205819
PUBLISHER: SkyQuest | PRODUCT CODE: 1205819
Global Military Actuators Market Size was valued at USD 1.39 billion in 2021, and it is expected to reach a value of USD 1.92 billion by 2028, at a CAGR of 5.73% over the forecast period (2022-2028).
Defense and military applications call for great force in a small area with exact control over force, position, and speed. Actuators are expected to drive market expansion since they satisfy all the requirements of these military and defense applications. Over the course of the forecast period, the demand for military actuators is expected to be driven by a number of factors, including the rise in terrorist activities around the world, security concerns, political turmoil, and the adoption of contemporary military programs. Manufacturers are encouraged by technological advancement to choose high-performance goods for use in a variety of military applications.
Top-down and bottom-up approaches were used to estimate and validate the size of the global Military Actuators market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Military Actuators market is segmented on the basis of type, application, system, components, and region. The market is segmented on the basis of type such as linear, rotary. On the basis of application, the market is segmented into air, land, naval. On the basis of systems, the market is segmented into electrical, hydraulic, pneumatic, mechanical. On the basis of components, the market is segmented into cylinders, drives, servo valves, manifolds. Based on region the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Due to the adoption of cutting-edge technologies, expanding R&D initiatives to support the introduction of new products, the existence of international firms producing actuators, and highly developed industries, the U.S. is seeing growth opportunities for military actuators. The presence of numerous large international corporations in the area, including Curtiss-Wright, Moog Inc., Parker Hannifin, and Venture Mfg. Co., also tends to fuel market expansion. Rising insurgency along borders in nations like China-India and India-Pakistan, as well as turmoil within nations like Iran and Syria, motivate the respective governments to include cutting-edge military programs and invest in personal protection solutions. These developments will bring lucrative growth opportunities for players in the global market.
Many companies that create goods for the military rigorously abide by the government's defence standards. The application of tight regulatory standards, issues with noise, vibration, and leakage, as well as the associated maintenance costs of military actuators, may restrain market expansion during the forecast period.
The demand for military actuators has been sparked by the use of armored vehicles, tanks, and other offshore patrol vehicles as well as different naval and aviation platforms. One of the major factors supporting the market's expansion is the rising demand for actuators from military aircraft. The demand for military actuators is fueled by nations with large military budgets, and it is expected to remain steady throughout the projection period. However, one of the reasons limiting market growth is the existence of strict government rules on vibration control, motion control noise, and leakage difficulties.