Actuator Systems Market in Aviation Worth 1090.9 Million USD by 2021
PUNE, India, July 27, 2016 /PRNewswire/ --
The report "Actuator Systems Market in Aviation by Product (Electric, Electrohydraulic, Electromechanical, Electrohydrostatic), Application (Flight Control System, Landing Gear, Auxiliary Control), Aircraft Type, End User and Region - Global Forecast to 2021", published by MarketsandMarkets, The market is projected to grow from USD 822.3 Million in 2016 to USD 1090.9 Million by 2021, at a CAGR of 5.82%.
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Browse 71 market data Tables and 71 Figures spread through 131 Pages and in-depth TOC on "Actuator Systems Market in Aviation".
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Increasing number of aircraft orders, growing trend towards for more electric aircraft (MEA), and increasing demand for automation in aviation industry are some of the key factors expected to drive the global aviation actuator systems market during the forecast period.
The electrohydraulic segment to dominate the aviation actuator systems market
Aviation actuator systems market is segmented on the basis of product into electric, electromechanical, electrohydraulic, and electro hydrostatic actuators. Electrohydraulic segment dominates the studied market and is expected to continue its dominance over the forecast period. The demand for electrohydraulic actuators is primarily driven by some of its advanced features such as high reliability, effectiveness in handling impulse load, high acceleration & stall torque capability, and simple & low power electronics.
The wide body aircraft segment is expected to grow at the highest pace during the forecast period
The global Aviation Actuator Systems Market has been segmented and analyzed on the basis of aircraft type including narrow body aircraft, wide body aircraft, very large aircraft, transport aircraft, and fighter jets. Wide body aircraft segment is anticipated to grow at the highest pace during the forecast period. It is expected to dominate the market on account of its efficiency and rise in passenger traffic. Increasing connectivity between important geographical locations of developing regions and developed regions has led to the rise in demand for wide body aircraft.
The aviation actuator systems market is expected to witness the highest growth in the North American region
The aviation industry in North American region has been witnessing strong growth over the past few years, mainly driven by the increasing demand from the major aircraft manufacturers in this region including Boeing and Bombardier. Increasing number of aircraft orders to these manufacturers by major airliners across the globe is expected to propel the market growth during the forecast period.
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Key players operating in the aviation actuator systems market are United Technologies Corporation (U.S.), Parker Hannifin Corp. (U.S.), Eaton (Ireland), Honeywell International, Inc. (U.S.), and Rockwell Collins (U.S.). Contracts, new product launches, expansions, partnership, collaborations, and agreements are the major growth strategies adopted by the players to strengthen their position in the market.
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