Research Report Worldwide Aircraft Actuators Industry - Fast Growth Expected
According to the "Aircraft Actuators Market - Growth, Trends, and Forecast (2020 - 2025)" report, the aircraft actuators market is expected to register a CAGR of more than 5 % during the forecast period 2020 - 2025. Increase in orders and procurement of aircraft, both for commercial and military purposes, is the main driver for the market.
3D printing has made the process of design and implementation of actuators faster, less expensive, and simpler. It also enables incorporation of all actuator components into a single structure, thus eliminating the need to use external joints, adhesives, and fasteners. The market for actuators is anticipated to grow at a fast pace, once the 3D printed actuators become fully operational in the aerospace sector.
Commercial Aircraft Segment to Dominate the Market
The commercial aircraft segment is expected to be the largest segment in the market studied during the forecast period. The procurements of commercial aircraft are more than military aircraft. Additionally, the number of actuators used on average in commercial aircraft is way more compared to military aircraft, except for the transport aircraft models. Commercial aircraft giants, like Boeing and Airbus, reported a high number of orders in 2018. By 2018, Boeing had 893 net firm orders, and Airbus had 747 net firm orders. Moreover, new aircraft models, like MRJ, C919, CR929, MA700, and Boeing 777X, are expected to be launched in the market during the forecast period. Orders for these aircraft may eventually lead to continuous aircraft production and demand for aircraft components like actuators during the forecast period.
Asia-Pacific to be the Fastest Growing Market for Aircraft Actuators
The market is projected to grow at a high pace in the Asia-Pacific region, due to the increasing aircraft orders in countries, like China and India. In the commercial aircraft segment, Chinese Airlines placed an order for 300 aircraft in early 2019, from Airbus. Moreover, the Chinese aircraft models, like Xian MA700, Comac C919, and CRAIG CR929, are under development, and thus, there will be a huge demand for the actuators for these programs, once their mass production kicks off. Most of this demand is expected to be generated from the Asia-Pacific region. Currently, C919 aircraft has around 1,000 aircraft orders from Chinese and other airlines. Even in the military segment, the countries in the Asia Pacific are increasing their defense spending, and with their aircraft procurement plans in the near future, the demand for aircraft parts, like the actuators, will be generated in this region during the forecast period.