Asia-Pacific Aircraft Actuators Market

Market Introduction

Swift advancements in technologies, various initiatives by governments, and rise in number of airlines and aircraft fleet are among the factors propelling the overall economy of the region, driving it from a developing to developed phase. APAC is estimated to register the fastest CAGR in the APAC aircraft actuators market during the forecast period. This can be attributed to factors such as increase in investments in the commercial aircraft sector, rise in number of new aircraft, and replacement of the existing aircraft with new aircraft equipped with advanced technology. APAC has a strong import of advanced commercial aircraft over the past few years owing to the rising number of domestic and international flights. Increased international and domestic travelers from countries, such as India, China, Japan, and Taiwan are creating demand for additional flights. The aircraft count in the region is rising, which, in turn, is mounting the demand for advanced aircraft actuators. For instance, in December 2020, AirAsia India expanded their aircraft fleet with three new A320 neo planes. The company is further increasing its fleet by purchasing two more A320 neo planes by 2021. Further, according to the Boeing aviation market forecast, APAC countries would require 16,930 more airplanes by 2037 to accommodate increasing number of travelers. The growth in air traffic passengers is generating demand for higher aircraft fleet in the region, which is reflecting higher procurement rate of actuation systems among the aircraft OEM. This factor is catalyzing the aircraft actuators market. The region is expected to account for ~40% of future airline production to suffice the aircraft demand. The International Air Transport Association (IATA) also predicted that around 2.1 billion travelers are expected to travel by 2036, particularly from China. Rising count of passengers would create the need for additional aircraft, thereby providing opportunity for the market. With increasing number of aircraft, the demand for aircraft actuator would soar during the forecast period. Further, rising investments by private companies and governments are bolstering the market growth. For instance, in July 2018, MRJ, a unit of Mitsubishi Aircraft Company, announced a new plan for increasing the production of aircraft in Japan to lead the nation in the aerospace industry and reduce the dependency on other companies, such as Boing and Airbus. Similarly, the Government of India initiated “Make in India” campaign, under which certain policies and regulations are introduced to support Indian Defence Industrial Base to grow. Within a year, around 500 start-ups have begun to manufacture and provide service in defense and aerospace area. Further, the Tamil Nadu state government announced the investment of US$ 15 billion in the aerospace and defense sectors. Therefore, increasing number of aircraft, airlines, and passengers is the key factor driving the demand for aircraft actuators in APAC.

The COVID-19 outbreak has resulted in a massive financial loss in the APAC region. The governments in Asia Pacific countries are taking possible steps to reduce its effects by announcing lockdown, which is negatively affecting the aircraft manufacturing sector. China is one of the leading aerospace manufacturing countries in the region and has been one of APAC's most affected countries during Q1 and Q2. Due to this, the manufacturing facilities have been witnessing severe conditions in aircraft and aircraft component manufacturing facilities. The Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which resulted in substantial lesser demand for various components and systems including actuators. Similarly, China’s indigenous aircraft manufacturer COMAC also halted its production of C919 during Q1, which resulted in negatively in aircraft actuators market. India, Japan, and South Korea are still combating the virus. However, the countries have eased the lockdown measures, which is reflecting the restart of manufacturing facilities. Nonetheless, the remarkable lower volumes of air travel passengers have slowed down the demand for various components among the OEMs regionally and internationally. This has been negatively affecting the aircraft actuators market.

Asia-Pacific Aircraft Actuators Strategic Insights

Strategic insights for the Asia-Pacific Aircraft Actuators provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia-Pacific Aircraft Actuators Report Scope

Asia-Pacific Aircraft Actuators Regional Insights

The geographic scope of the Asia-Pacific Aircraft Actuators refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The aircraft actuators market in APAC is expected to grow from US$ 1503.11 million in 2020 to US$ 2423.60 million by 2027; it is estimated to grow at a CAGR of 7.1% from 2020 to 2027. Boom in Use of Electrotechnical Actuators. Aircraft flight control systems are shifting from bulky, heavy, and leaky hydraulic systems to an electric autonomous system. The advancements in electro-mechanical (EM) actuator, such as reliability, compact nature, light weight, and cost-efficiency, are mounting its adoption in aircraft. Commercial and military aircraft fleets are looking for advanced system, which are lighter in weight to enhance fuel efficiency. Actuators in aircraft are used in the functionality of landing gear, slats and spoilers, seats, flaps, positioning engine inlet guide vanes, rudder, ailerons, and opening and closing cargo or weapon bay doors, among others. Since, the aircraft OEMs are increasingly emphasizing on lightweight aircraft models, the electromechanical actuators are attracting the OEMs in the current scenario, which is catalyzing the aircraft actuators market. Another reason for the increasing adoption of electromechanical actuators is the paradigm shift of aerospace industry toward electric aircraft, which is obsoleting the hydraulic, pneumatic, and mechanical systems and are increasing the adoption of electric actuation systems. This trend is generating substantial demand for the electrical actuators, which is ultimately boosting the aircraft actuators market. This is bolstering the growth of the aircraft actuators market.

Key Market Segments

In terms of end user, the Commercial Aircraft segment accounted for the largest share of the APAC aircraft actuators market in 2019. Further, the Commercial Aircraft segment held a larger share of the market based on end user in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the aircraft actuators market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Collins Aerospace; Raytheon Technologies Company; Curtiss-Wright Corporation; Eaton Corporation plc, Honeywell International Inc; Meggitt PLC, Moog Inc.; Parker-Hannifin Corporation; TransDigm Group Incorporated; Woodward, Inc.

Reasons to buy report

• To understand the APAC aircraft actuators market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC aircraft actuators market
• Efficiently plan M&A and partnership deals in APAC aircraft actuators market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment APAC aircraft actuators market
• Obtain market revenue forecast for market by various segments from 2020-2027 in APAC region.

APAC AIRCRAFT ACTUATORS MARKET SEGMENTATION

By Type

• Linear
• Rotary

By System

• Hydraulic Actuators
• Electrical Actuators
• Mechanical Actuators
• Pneumatic Actuators

By

End User

• Commercial Aircraft
• Military Aircraft

By

Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

By Companies

• Collins Aerospace, a Raytheon Technologies Company
• Curtiss-Wright Corporation
• Eaton Corporation plc
• Honeywell International Inc
• Meggitt PLC
• Moog Inc.
• Parker-Hannifin Corporation
• TransDigm Group Incorporated
• Woodward, Inc