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Aviation Actuator System Market

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Aviation Actuator System Market
Aviation Actuator System Market Expected to Reach US$ 2283.9 Mn by 2026
According to a new report on the aviation actuator system market, published by
Transparency Market Research, the global aviation actuator system market is expected
to reach value of US$ 2283.9 Mn by 2026, expanding at a CAGR of 6.4% from 2018
to 2026. According to the report, the global market is likely to continue to be
influenced by a range of macroeconomic and market-specific factors. In terms of
demand, Asia Pacific is projected to continue to lead the global market, with the
market in the region expanding at a CAGR of 7.3% between 2018 and 2026.
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Rising demand for defense aircraft driving the global aviation actuator system market
The global aviation actuator system market has witnessed strong growth over the last
decade. The primary factor driving the market is rising demand for defense aircraft
worldwide. In the wake of growing security concerns, increasing military capabilities
by countries across the globe, and increasing expenditure on the defense sector, the
demand for military aircraft is increasing. Thus, the surging demand for military
aircraft is estimated to raise the demand for aviation actuator systems to be used in
these aircraft during the forecast period. The shift toward using electric actuators is a
major trend being witnessed in the global aviation actuator system market. Some of
the leading aircraft manufacturers are shifting toward use of electric actuators instead
of hydraulic actuators, due to advanced characteristics of electric actuators. For
instance, Lockheed F35, Boeing 787 Dreamliner, and Airbus A380 have replaced
hydraulic or pneumatic actuators with electric actuators.
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Global Aviation Actuator System Market: Scope of Report
The global aviation actuator system market has been broadly segmented in terms of
actuator type, application, end-use, and region. Based on actuator type, the market
has been segmented into mechanical actuator, hydraulic actuator, electric actuator,
and others. The mechanical actuator segment was the dominant segment, holding
34.83% share of the global market, in terms of revenue, in 2017. It is expected to
expand at a significant CAGR of 6.7% during the forecast period. This is primarily
attributable to high demand for mechanical actuators in the aerospace industry. In
terms of application, the global aviation actuator system market has been divided
into flight control, auxiliary control, utility actuation, and others. The utility
actuation segment is expected to expand at a high CAGR of 7.2% from 2018 to 2026,
due to rising consumer inclination toward high-reliability actuators and actuation
components used in the aviation industry. Based on end-use, the market can be
segregated into commercial aviation and defense. The commercial aviation segment is
anticipated to register the maximum CAGR during the forecast period, owing to
various initiatives taken for the development of electric aircraft.
Among regions, North America is anticipated to hold the maximum share of the
global market, while the market in Asia Pacific is anticipated to expand at the
maximum CAGR during the forecast period. In 2017, North America accounted for
39.49% share of the global aviation actuator system market. This is attributable to
increasing demand from major aircraft companies in the region, which include
Bombardier and Boeing. Furthermore, the market in Asia Pacific is anticipated to
expand significantly between 2018 and 2026, due to rising disposable income and
growing middle-class population across the region.
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