The Aviation Actuator Systems Market is expected to grow at 6.2% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Aviation Actuator Systems Market
Aviation Actuator Systems Market is likely to witness an impressive CAGR of 6.2% during the forecast period. Increasing aircraft orders along with the growing passenger traffic across the globe are the major factors contributing towards the growth of the global aviation actuator systems market. The number of aircraft has increased owing to rise in air traffic. The fact that the number of aircraft manufactured and its ability to minimize limitations of high-maintenance requirements, weight, and vulnerability to security risks mark the high dependence of the aviation actuator systems market, is leading to the procurement of power-efficient and low-weight actuators.
In terms of regions, North America dominated the aviation actuator systems market, as of 2018, followed by Europe, and is expected to continue its dominance during the forecast period. The North American market is also estimated to register the highest growth in the coming five years. Factors governing the growth of the aviation actuator systems market comprise expansionary fiscal & monetary policy, low oil prices, deleveraging private sector, and steady labor market. Further, North America is the leading manufacturer of fighter and military transport aircraft, which serves as a catalyst towards the growth of the aviation actuator systems market. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period. China and India are the growth engines of the region.
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Market Scope & Segmentation
Aviation Actuator Systems Market Share: By Product Type
Based on the product type, the market is segmented as electric actuators, electromechanical actuators, electrohydraulic actuators, and electrohydrostatic actuators. The market is dominated by the electrohydraulic subsegment while the electrohydrostatic subsegment is estimated to register the highest growth during the forecast period. This high growth can be attributed to the characteristics of the electrohydrostatic subsegment, such as low investment costs, energy savings, fail-safe functionality, high power density and power capacity, and easy integration into existing infrastructure.
Aviation Actuator Systems Market Share: By Application Type
Based on the application type, the market is segmented as flight control, landing gear, and auxiliary control. The flight control subsegment is expected to account for the largest market share during the forecast period, owing to the use of large number of actuators in this application.
Aviation Actuator Systems Market Share: By Aircraft Type
Based on the aircraft type, the market is segmented as narrow-body aircraft, wide-body aircraft, very large aircraft, fighter aircraft, and transport aircraft. The wide-body aircraft segment is estimated to depict the highest growth during the forecast period. The demand for wide- body aircraft is increasing globally owing to its efficiency, upsurge in passenger traffic, and enhanced connectivity between important geographical destinations of developing and developed regions.
Boeing anticipated that there would be the total deliveries of 40,410 commercial aircraft worth US$ 6.25 trillion in the global marketplace during 2018-2037. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 64.7% of the total commercial aircraft deliveries during the same period. An anticipated healthy CAGR of 4.7% in air passenger traffic during 2018-2037 will majorly bolster the demand for commercial aircraft.
Aviation Actuator Systems Market Share: By End-User Type
Based on the end-user type, the market is segmented as commercial aviation and defense. The commercial aviation segment is expected to grow at a higher CAGR during the forecast period. Snowballing orders for commercial aircraft from developing regions have majorly contributed to the rise in demand for commercial aircraft, which, in turn, has led to the demand for aviation actuator systems in the commercial aviation segment.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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