Aircraft Actuator Market: Current Analysis and Forecast (2023-2030)

An aircraft actuator is a mechanical device that is used to control the movement of an aircraft's control surfaces, such as the ailerons, elevators, and rudder. The actuator converts the input from the pilot's controls, such as the joystick or yoke, into the necessary movement of the control surface to adjust the aircraft's attitude and direction. The growing aviation industry is accelerating the demand of the market.

The Aircraft Actuator Market was valued at 8.2 billion in 2022 and is expected to grow at a steady rate of around 7.5% in the forecasted period (2023-2030) owing to the increasing demand for devices for maintenance and upgradations in aging aircraft. Furthermore, the development of new technologies, such as electric and hybrid-electric propulsion systems, is driving the demand for aircraft actuators that can handle the increased power and control requirements of these systems. For instance, in 2020, Honeywell developed a new electric actuator for aircraft control surfaces that is lighter and more compact than traditional hydraulic actuators. The new actuator uses electric motors and gears to generate the necessary force to move the control surface, which can improve the efficiency and performance of the aircraft.

Based on the actuator types, the market is segmented into hydraulic, pneumatic, electric, electromechanical, and others. Among these, the hydraulic segment is leading the maximum share of the market due to its high power density, precision, and ability to handle heavy loads. Hydraulic actuators are commonly used in applications requiring high force and precise control, such as construction equipment and industrial machinery. Their robustness and efficiency in such scenarios contribute to their prominent market position.

Based on platform, the market is bifurcated into fixed wing, and rotary wing. Among them, the fixed wing segment is making a significant impact on the market due to its longer flight endurance, higher speed, and greater payload capacity compared to rotary-wing platforms. These attributes make fixed-wing UAVs (unmanned aerial vehicles) ideal for various applications like surveillance, mapping, agriculture, and aerial data collection. Their ability to cover larger areas efficiently and their longer operational range contribute to their substantial influence in the market.

Based on applications, the market is bifurcated into commercial aviation, military aviation, business & general aviation, and others. Among them, the commercial aviation segment is making a huge impact on the market due to the growing demand for air travel, the expansion of airline fleets, and the increasing need for efficient transportation solutions. With the rise in global travel and cargo shipping, commercial aviation plays a vital role in connecting people and goods across the world. This sustained demand for commercial aviation services is driving innovation and investment in aircraft technology, making it a substantial driver of market growth. For instance, According to the International Air Transport Association (IATA), global air traffic is expected to reach 7.2 billion passengers by 2036, which is more than double the number of passengers in 2019.

For a better understanding of the market adoption of aircraft actuators devices, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific is expected to grow at a significant CAGR during the forecast period. The region's expanding economy, increasing disposable income, and growing middle-class population are driving higher air travel demand. This, in turn, leads to increased aircraft orders and a greater need for aircraft components like actuators. Furthermore, Asia Pacific is witnessing substantial investments in the aviation sector, both in terms of airport infrastructure and the establishment of new airlines. As a result, there's a higher demand for aircraft across various segments, including commercial, military, and business aviation. For instance, In March 2022, Boeing announced plans to invest $1 billion in a new factory in South Carolina to produce electric and hybrid aircraft. The company has also announced investments in other areas of the aviation industry, including the development of new airplane interiors and the expansion of its digital services. Additionally, the region's manufacturing capabilities and skilled labor force are contributing to the growth of the aircraft manufacturing industry. Many global aircraft manufacturers and suppliers are establishing or expanding their production facilities in the Asia Pacific, which boosts the demand for aircraft actuators.

Some of the major players operating in the market include: Moog Inc.; Honeywell International Inc.; Safran; Woodward Inc.; Parker Hannifin Corporation; UTC Aerospace Systems; Meggitt PLC; Zodiac Aerospace; Triumph Group, Inc.; AMETEK Inc.