An actuation system plays a vital role in the movement of the aircraft. This system requires an energy source or a control signal to operate efficiently. Where the energy source or control signal can be in the form of hydraulic pressure, electric voltage, pneumatic pressure, or mechanical. The aircraft actuator includes a reduction gear. This gear is used to control and maintain the rotating motion of the system. It is a key component of an aircraft it plays an important role in the control of flight. The rise in aircraft delivery in the region such as Asia-Pacific and North America is expected to propel the commercial aircraft actuation system market during the forecast period.
The major challenges for the commercial aircraft actuation system market are the delays and project cancellations by the government authorities and shortcomings of the conventional actuation systems. The Global Commercial Aircraft Actuation System Market was valued at USD 597.8 million in 2018 which is anticipated to reach USD 874.5 Million by 2025 at a CAGR 5.23% during the forecast period 2018–2025.
The global commercial aircraft actuation system market has been segmented based on type, aircraft type, and region. 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 2018 and is register 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. Based on aircraft type, the market has been segmented by narrow-body aircraft, wide body aircraft, freighter/transport aircraft, and others. The narrow body aircraft segment accounted for the largest market share of 35.25%, in 2018, during the review period due to the rising aircraft delivery in the Asia-Pacific and North America during the forecast period.
Based on region, the market has been segmented into North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America. Among these, North America is anticipated to contribute 32.34% market share in the growth in commercial aircraft actuation system over the coming years. Increase in air traffic activities and rising aircraft deliveries are factors propelling market growth. Asia-Pacific has the fastest-growing market during the forecast period, due to the rising demand for maintenance, repair, and overhaul of aircraft in Asia-Pacific. The commercial aircraft actuation system market is emerging in China, India, and Japan, and is projected to grow at a high rate during the review period.
The key players in the global commercial aircraft actuation system market are Honeywell International (US), Parker Aerospace (US), UTC Aerospace Systems (US), Eaton Corporation Plc (Ireland), Liebherr (Germany), Moog, Inc. (US), Curtiss Wright Corporation (US), Saab AB (Sweden), Woodward Inc. (US), and Triumph Group Inc. (US).
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
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Global aircraft component MRO market is touted to record a substantial market valuation of USD 874.5 million by 2025.
Global commercial aircraft actuation system market is projected to register a moderate 5.23% CAGR in the forecast period.
The massive demand for commercial aircraft actuation systems driven by the growing air passenger traffic is the market's primary growth inducer.
The hydraulic segment is expected to observe substantial demand over the review period.
The narrow body aircraft segment is expected to secure the highest CAGR.
The APAC segment is slated to expand as the fastest-growing segment.
A few eminent market players operating in the global commercial aircraft actuation system market are Honeywell International (US), Parker Aerospace (US), UTC Aerospace Systems (US), and others.