Commercial Aircraft Actuation Systems market size will be USD 665.2 million in 2023 and will grow at a CAGR of 5.80% from 2023-2030: Cognitive Market
Introduction of?Commercial Aircraft Actuation Systems
Commercial aircraft actuation systems are crucial components that control the movement of aircraft surfaces, such as wings and flaps. These electromechanical systems translate pilot inputs into physical movements, ensuring precise and responsive control during flight. The growing demand for air travel, rising focus on fuel efficiency, advances in technologies & materials, development and introduction of new aircraft models, reduction in maintenance costs, the rise of low-cost carriers, modernization in military aircraft, and strict regulations by aviation industry are the major factors influencing the growth of the commercial aircraft actuation systems market.
For instance, In January 2020, Honeywell International Inc. announced the development of its new electromechanical actuators specifically designed for urban air mobility (UAM).
Key Insights from Commercial Aircraft Actuation Systems Market Report
The Global Commercial Aircraft Actuation Systems market size will be USD 665.2 million in 2023 and will grow at a CAGR of 5.80% from 2023 to 2030.
Increasing Demand from Emerging Regions to Provide Viable Market Output
The increasing demand from emerging regions is influencing market growth. As these regions experience economic growth, there is growth in air travel demand, leading to higher aircraft production and fleet expansion. Actuation systems are critical in controlling various aircraft functions, ensuring safety and efficiency. Airlines in emerging markets are investing in modernizing their fleets with technologically advanced systems to meet stringent safety regulations and enhance overall operational performance. This trend is propelling the demand for commercial aircraft actuation systems, creating opportunities for manufacturers to cater to the evolving needs of these burgeoning aviation markets.
For instance, in September 2019, according to the Commercial Aircraft Corporation of China, the Chinese market was projected to have a major demand for commercial aircraft in the next 20 years.
Rise in Commercial Aviation to Propel Market Growth
The increase in commercial aviation has significantly impacted the Commercial Aircraft Actuation Systems market. Increasing global travel demands, expanding airline fleets, and emerging low-cost carriers have fueled the need for advanced and efficient actuation systems. These systems control various aircraft functions, ensuring safety, reliability, and performance. As airlines strive to enhance fuel efficiency, reduce maintenance costs, and improve overall operational efficiency, the demand for innovative actuation solutions has surged. This trend will likely continue as the commercial aviation sector expands, creating opportunities for the Commercial Aircraft Actuation Systems market to thrive.
According to Boeing's Commercial Market Outlook 2020-2039, 2021 reflects that the global market is getting back. The growth in demand for air travel is responsible for the airline industry's growth amid the pandemic.
Market Dynamics of the?Commercial Aircraft Actuation Systems Market
The strict regulations and requirements of certification can hinder the market’s growth. Compliance with rigorous aviation standards necessitates extensive testing and validation processes, contributing to prolonged development timelines and increased costs. Meeting these requirements demands meticulous adherence to design, manufacturing, and testing protocols, posing challenges for market participants regarding time, resources, and financial investments. This regulatory landscape acts as a deterrent for potential market entrants and intensifies competition among existing players striving to meet the stringent certification criteria.
Impact of?COVID-19?on the Commercial Aircraft Actuation Systems market
The COVID-19 pandemic affected the Commercial Aircraft Actuation Systems market significantly. The global aviation industry experienced a sharp decline in demand for new aircraft, leading to a slowdown in the manufacturing and sales of actuation systems. Travel restrictions, grounded fleets, and financial uncertainties among airlines resulted in deferred or canceled orders. Suppliers and manufacturers faced disruptions in the supply chain, impacting production schedules. However, as the industry gradually recovers with easing travel restrictions and increasing passenger confidence, the Commercial Aircraft Actuation Systems market is expected to rebound, albeit with ongoing challenges related to changing market dynamics and the need for adaptability in a post-pandemic aviation landscape.
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Competitive Landscape of the?Commercial Aircraft Actuation Systems market
The major players focus on product innovation, strategic collaborations, and mergers to enhance their market presence and meet the demands of the aviation industry.
Commercial Aircraft Actuation Systems Industry News
Top Companies Market Share in Commercial Aircraft Actuation Systems Industry:
Commercial Aircraft Actuation Systems Market Analysis
Type Segment Analysis
According to Cognitive Market Research, linear held the major market share over the forecast period. These systems involve straight-line motion and are commonly employed in various aircraft components, such as landing gear, thrust reversers, and flaps. These systems provide precise control and stability during critical phases of flight.
Rotary is the fastest-growing category over the forecast period. They facilitate rotational motion and are essential for controlling aircraft surfaces like ailerons and rudders. They play a crucial role in ensuring the maneuverability and directional control of the aircraft.
Actuator Type Segment Analysis
According to Cognitive Market Research, the hydraulic holds a prominent market share. These systems utilize fluid power to control various aircraft functions, offering high power density and reliability. These systems are crucial for critical operations like landing gear deployment and flight control surfaces.
Pneumatic is the fastest-growing category over the forecast period. These systems rely on air pressure to drive mechanical movements, often in secondary or less critical functions. Pneumatic systems may be preferred for simpler tasks.
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In terms of revenue, the North America Commercial Aircraft Actuation Systems market share was 40% of the total marke
According to Cognitive Market Research, North America dominated the market in 2023. It accounted for around 40% of the global revenue, owing to the presence of major aircraft manufacturers and technological advancements. The region's demand for modernized and fuel-efficient aircraft has led to a steady growth in the actuation systems market. The United States, in particular, is a key contributor, with established aerospace companies continuously investing in research and development. The region benefits from a well-developed infrastructure, skilled workforce, and robust regulatory framework. Ongoing collaborations between industry players and government initiatives further bolster the market. As a result, North America remains a crucial player in the global commercial aircraft actuation systems market, influencing its growth and innovation.
Europe is the fastest-growing category due to the region's prominent aerospace industry and technological advancements. The European market benefits from a strong demand for fuel-efficient and lightweight aircraft, emphasizing the adoption of innovative actuation technologies. Stringent safety and regulatory standards further drive the market, with Europe focusing on enhancing aircraft performance and reducing environmental impact. The collaborative efforts of industry stakeholders and government initiatives to support aviation advancements contribute to the sustained growth of Europe's Commercial Aircraft Actuation Systems market.
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