According
to the new market research report "Aircraft Actuator Market by Component
(Electronic, Electrical, & Mechanical), Application (Power Generation,
Power Distribution, Flight Control, Landing & Braking, Fuel, Avionics,
& Health Monitoring), Aircraft Type and Geography - Global Forecast to 2022", the market is estimated to reach USD
20.13 Billion by 2022, at a CAGR of 9.5% between 2016 and 2022. The growing
trend of more electric aircraft and increasing demand for commercial aircraft,
globally, are the major drivers for the aircraft actuator market.
Health monitoring systems application
expected to grow at the highest CAGR between 2016 and 2022
The
market for health monitoring systems is expected to grow at the highest CAGR
during the forecast period. The demand to increase aircraft availability and
lower the costs by reducing unscheduled maintenance, aircraft downtime, and
delays has boosted the demand for health monitoring systems which monitor
various airplane systems and parts to effectively assess actual damages in
real-time.
Generators expected to hold the largest
market share and witness rapid growth during the forecast period
Among
all the electrical and mechanical components types, generators accounted for
the largest market share in 2015; this market is estimated to grow at the
highest CAGR between 2016 and 2022. With the increasing requirement of
electricity generation in the next-generation electric aircraft, the
requirement of generators would also increase substantially during the forecast
period.
Narrow body aircraft expected to lead
the market for aircraft types
Narrow
body aircraft had the largest market by aircraft type. The rapid growth in the
aviation sector in emerging economies has created a huge market for low-cost
aviation carriers and narrow body aircraft are widely preferred for domestic as
well as international routes.
Major
players in the aircraft actuator market are Honeywell Aerospace, Inc. (U.S.),
Rockwell Collins, Inc. (U.S.), Safran SA (France), UTC Aerospace Systems
(U.S.), Woodward, Inc. (U.S.), Microsemi Corporation (U.S.), Infineon
Technologies AG (Germany), and Vishay Intertechnology, Inc. (U.S.) among
others.
This
research report categorizes the global aircraft actuator market based on
component, aircraft type, and application. This report describes the drivers,
restraints, opportunities, and challenges for the growth of the aircraft
actuator market. The Porter’s five forces analysis has been included in the
report with a description of each of its forces and their respective impact on
the aircraft actuator market.
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