Global Commercial Aircraft Actuation System Market was valued at USD 597.8 million in 2020 which is anticipated to reach USD 874.5 Million by 2025 at a CAGR 5.23% during the forecast period.
Aircraft actuation systems are a vital part of aircraft and assists in flight navigation and movement. Efforts to save on energy costs and the shift towards electric aircraft are factors expected to shape the design process of future actuation systems. The global commercial aircraft actuation system market report compiled by Market Research Future (MRFR) takes a deep dive into aircraft component production, dip in fleet numbers, and other pertinent factors and setbacks estimated for the period of 2019 to 2025 (forecast period).
Technological advances in the aerospace industry and expansion plans of commercial airlines can drive the market growth. The shift to electric actuator systems can save airlines operational costs and lead to new plans among airline operators. Programs to lower the emission levels such as the Clean Sky initiative in the European Union (EU) can foster market growth. Other factors impacting market growth are constant trade among nations, the growing middle class, rising urbanization, and service agreements between airlines. Shortcomings of conventional actuation systems and cancellation of government bids can negatively impact the market growth.
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UTC Aerospace Systems, Eaton Corporation Plc, Moog, Inc., Triumph Group Inc., Parker Aerospace, Curtiss Wright Corporation, Saab AB, Woodward Inc., Liebherr, and Honeywell International are key players of the Global Commercial Aircraft Actuation System Market.
Global Commercial Aircraft Actuation System Market has been segmented based on type and aircraft type.
Based on type, the market has been segmented by hydraulic, electric and pneumatic. Among these, the hydraulic segment is expected to account for the largest market share of 42.36% in 2020 and can exhibit a CAGR of 7.69% during the forecast period. The rising use of hydraulic operated systems and lightweight systems is propelling the growth of the market. However, the electric segment can capture a large section of the market in the coming years owing to changing standards and regulations enforcing low emission levels.
Based on aircraft type, Global Commercial Aircraft Actuation System Market has been segmented into wide body aircraft, freighter/transport aircraft, narrow-body aircraft, and others. The narrow body aircraft segment accounted for the largest market share of 35.25% in 2020. It can accrue demand during the review period due to the rising aircraft delivery in APAC and North America regions during the forecast period. Safety of passengers can influence the demand for narrow-body aircraft.
Based on region, Commercial Aircraft Actuation System Market has been segmented into North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and Latin America.
Among these, North America is anticipated to capture 32.34% market share in the commercial aircraft actuation system market over the coming years. Increase in air traffic activities, expansion plans of commercial aircraft, and delivery of aircraft are factors propelling market growth.
On the other hand, APAC has the fastest-growing market during the forecast period, due to the rising demand for repair, overhaul, and maintenance of aircraft. Popularity of low-cost carriers in China, India, and Japan, and is projected to influence the market till the end of the forecast period.
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