Global Aircraft Actuators Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
Actuator systems in aircraft play a role in steering the aircraft and managing functions such, as flight control surfaces and landing gear operation.
Market Key Insights
- The Aircraft Actuators market is projected to grow from $12.1 billion in 2024 to $29.7 billion in 2034. This represents a CAGR of 9.4%, reflecting rising demand across Flight Control Systems, Landing Gear Systems and Engine Control.
- The market leaders in this sector include Honeywell International Inc and Moog Inc and Collins Aerospace which determine the competitive dynamics of this industry.
- U.S. and Germany are the top markets within the Aircraft Actuators market and are expected to observe the growth CAGR of 6.9% to 9.9% between 2024 and 2030.
- Emerging markets including India, Brazil and Indonesia are expected to observe highest growth with CAGR ranging between 9.0% to 11.8%.
- The Aircraft Actuators market will experience $2.5 billion in additional growth through 2030 because of the transition toward electric actuation systems.
- The Aircraft Actuators market is set to add $17.6 billion between 2024 and 2034, with manufacturer targeting Electric & Mechanical Product Type projected to gain a larger market share.
- With Rising demand for electric aircraft, and Technological advancements in actuator design, Aircraft Actuators market to expand 146% between 2024 and 2034.
Opportunities in the Aircraft Actuators
The aviation sector is increasingly looking into ways to integrate energy sources, like solar and wind power into hydraulic actuators for reducing carbon emissions and cutting operational expenses effectively in light of rising environmental sustainability concerns.
Growth Opportunities in North America and Europe
North America Outlook
Europe Outlook
Market Dynamics and Supply Chain
Driver: Rising Demand for Electric Aircraft, and Growth in Air Travel
Advancements in actuator technology have also been driving the aircraft actuator market by improving compactness and reliability while boosting efficiency well. As technology progresses further into the smart actuators are also becoming more common in aircraft systems leading to better flight control measures and increased safety along, with fuel economy benefits.
Restraint: High Manufacturing and Maintenance Costs
Opportunity: Miniaturization for Drones and Unmanned Vehicles and Development of Smart Actuators
With the advancements, in aircraft technology today there is an opportunity to incorporate smart systems into aircraft actuators to enhance their efficiency and safety through self diagnosis capabilities and reduced system malfunctions with the help of sensors integrated within these intelligent actuators.
Challenge: Technical Complexities & Requirement for Frequent Upgradation
Supply Chain Landscape
Alcoa Inc.
Precision Castparts Corp
Parker Hannifin Corp.
UTC Aerospace Systems
Zodiac Aerospace
Moog Inc
Boeing
Airbus
Alcoa Inc.
Precision Castparts Corp
Parker Hannifin Corp.
UTC Aerospace Systems
Zodiac Aerospace
Moog Inc
Boeing
Airbus