Aircraft actuators are mechanical devices that provide linear and rotational motion and are used for aircraft flight control surfaces such as ailerons, ruddervators, flaps and slats. These actuators help pilots control the direction and attitude of an aircraft during its flight. Increased air traffic and preference for newer aircraft models among commercial airlines are driving demand for aircraft actuators. Further, modern aircraft require more advanced actuators that are compact, lightweight and energy efficient to power secondary flight control surfaces.

The global Aircraft Actuators Market is estimated to be valued at US$ 10.33 Mn  in 2024 and is expected to exhibit a CAGR of 4.5%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Increased aircraft production for both commercial and military applications is one of the major opportunities for growth of aircraft actuators market. According to statistics, commercial aircraft deliveries are estimated to double over the next 20 years owing to rising air passenger traffic globally. Emerging economies are also ramping up procurement of military aircraft to modernize their fleets. This growing demand for new aircraft will drive the need for reliable and efficient actuators to power flight control systems. Aircraft actuator manufacturers can capitalize on the booming aircraft production by developing advanced and customized solutions tailored for new aircraft platforms entering production. This will help gain new customers and increase market share in the coming years.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate as the aircraft actuators market requires huge R&D investments and certifications.

Bargaining power of buyers: The bargaining power of buyers is high due to presence of many established players offering similar products.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw materials.

Threat of new substitutes: The threat of new substitutes is low as aircraft actuators have limited substitutes.

Competitive rivalry: The competitive rivalry is high among key players to gain higher market share.

SWOT Analysis

Strength: Strong R&D capabilities and technology leadership of key players.

Weakness: High dependence on aerospace industry and fluctuations in raw material prices.

Opportunity: Growth in commercial aircraft fleet size and increasing demand for lightweight actuators.

Threats: Trade restrictions and geopolitical tensions affecting aerospace supply chain.

Key Takeaways

The global Aircraft Actuators Market Demand is expected to witness high growth over the forecast period of 2024 to 2031 driven by increasing aircraft deliveries and fleet size. The global Aircraft Actuators Market is estimated to be valued at US$ 10.33 Mn  in 2024 and is expected to exhibit a CAGR of 4.5%  over the forecast period 2024 to 2031.

North America is currently the largest market for aircraft actuators owing to high number of aircraft orders and presence of major OEMs in the region. Asia Pacific comprises fastest growing aircraft actuators market over the forecast period supported by surging aircraft fleet size of airlines in China and India. The aircraft actuator sales in Asia Pacific are further expected to increase with progressing commercial aircraft modernization programs.

Key players operating in the Aircraft Actuators market are Cargill Aqua Nutrition, Skretting (Nutreco), Biomar, Alltech, Ridley Corporation Limited, CP Group, Charoen Pokphand Foods (CPF), Nutriad International, BioMar Group, Nutra Blend LLC, Guangdong Haid Group Co., Ltd., Tongwei Group, Avanti Feeds Limited, Nutrivet, BRF S.A.

Explore more related article on this topic: https://www.newswirestats.com/aircraft-actuators-market-demand-analysis/