With the constant advancement of aircraft technology and global strive for a reduction in the aerospace carbon footprint, the aircraft actuator market is facing a rise in demand. Actuators are simply a component in which an action, movement, or other control can be conducted after given an operating signal. These operating signals can be given via voltage, hydraulics, pneumatics, or by manual human power. From landing gear to aircraft flaps, actuators are vital to a number of flight pertinent operations, and this number will only continue to rise.
From the years of 2019 to 2024, the aircraft actuator parts market is expected to rise by a compound annual growth rate (CAGR) of around 5% with $15 billion USD added to the total value. North America is currently leading the growth trend, attributed to their massive scale aviation industry operations, including both manufacturing and maintenance. Europe and Asia-Pacific follow close behind in their efforts, the latter expected to have the most rapid growth. This is due to countries such as China and India facing more development and government initiative. China holds a potential of a 7.5% growth during the trend periods, creating an opportunity of over $4 Billion in the actuator market. By 2025, the market should reach a worth of over $34 billion as linear actuator markets continue to grow across the globe.
The primary driving force of actuator demand is through commercial and military interests that have created desire for increased production. 3D printing technology also contributes to the ease of manufacturing, driving down production times and costs across the board as 3D printing technology becomes more operational and feasible. As countries across the world continue to develop, urbanize, and connect with others, the demand for actuators and aircraft will continue to rise.
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