Albany, NY -- (SBWIRE) -- 03/26/2019 -- There are many factors that are driving the growth of aviation actuator system market. The increased demand for advanced electronic equipment to replace conventional pneumatic and hydraulic actuators in aviation sector is likely to drive the aviation actuator systems market during forecast period. Further, an array of advantages such as fuel efficiency, reliability and compactness of modern aviation actuator systems is another a major factor that is expected to push the market. However, there are some factors that are restraining the aviation actuator system market growth. Chief among them is the high initial investment. A lot of capital is required for the up gradation of existing conventional aviation actuator system. Moreover, the innovation and advancement in the technology related to the aviation actuator system by the well established and emerging players are expected to overcome these restraints in near future.
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The global aviation actuator system market can be segmented on the basis of product type, aircraft type, application, and region. On the basis of product type, the market can be divided into hydraulic actuator, mechanical actuator, pneumatic actuator, electromechanical actuator, and electro-hydraulic actuator. The electro-hydraulic actuator segment is likely to emerge as the dominant segment in 2017. The segment, on the backdrop of advancement in technology, reliability and effectiveness is anticipated to remain the dominant segment throughout the forecast years. On the basis of aircraft type, the global aviation actuator system market is segmented into narrow body aircraft, wide body aircraft, very large aircraft, transport aircraft and fighter aircraft. Based on aircraft type, the wide body aircraft segment is expected to dominate the aviation actuator system market in terms of value owing to the increase in passenger traffic. Importance of connectivity between key geographical locations is expected to propel the said segment to the fastest growing segment. On the basis of applications, the aviation actuator system market is segmented into commercial and defense.
Based on the region, the global aviation actuator system market can be classified into North America, Europe, South America, Middle East & Africa, and Asia Pacific. The global aviation actuator system market in North America is expected to account for the largest market share followed by Europe and Asia-Pacific. This is primarily due to the strong growth witnessed by the region's aviation industry. The growing demand from key industry players such as Bombardier and Boeing is also adding to the region's impressive growth rate. Growth in the aircraft orders is also helping the market to grow at a steady rate. The regional market is also characterized with high focus on technology innovation. Furthermore, the Asia-Pacific market is expected to grow at the highest rate during the forecast period owing to the rapid adoption of aviation actuator systems for increased safety. Additionally, the growth opportunities are mainly attributed to the significant economies of Japan, China, and India.
The major players operating in global aviation actuator system market are Eaton Industries GmbH, General Electric, UTC Aerospace Systems, PARKER HANNIFIN CORP, Moog Inc., Electromech Technologies, Beaver Aerospace & Defense, Inc., Cesa, Honeywell International Inc., and Arkwin.
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