This new report from Stratview Research analyses the Aviation Actuator Systems Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aviation Actuator Systems Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aviation Actuator Systems Market is no different. Derived from the previous market scenario, the Aviation Actuator Systems Market is likely to witness an impressive CAGR of 6.2% during 2020-25 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
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Market Share Analysis
Aviation Actuator Systems Market Share: By Product Type
Based on the product type, the market is segmented as electric actuators, electromechanical actuators, electrohydraulic actuators, and electrohydrostatic actuators. The market is dominated by the electrohydraulic subsegment while the electrohydrostatic subsegment is estimated to register the highest growth during the forecast period. This high growth can be attributed to the characteristics of the electrohydrostatic subsegment, such as low investment costs, energy savings, fail-safe functionality, high power density and power capacity, and easy integration into existing infrastructure.
Aviation Actuator Systems Market Share: By Application Type
Based on the application type, the market is segmented as flight control, landing gear, and auxiliary control. The flight control subsegment is expected to account for the largest market share during the forecast period, owing to the use of large number of actuators in this application.
Aviation Actuator Systems Market Share: By Aircraft Type
Based on the aircraft type, the market is segmented as narrow-body aircraft, wide-body aircraft, very large aircraft, fighter aircraft, and transport aircraft. The wide-body aircraft segment is estimated to depict the highest growth during the forecast period. The demand for wide- body aircraft is increasing globally owing to its efficiency, upsurge in passenger traffic, and enhanced connectivity between important geographical destinations of developing and developed regions.
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Aviation Actuator Systems Market Share: By End-User Type
Based on the end-user type, the market is segmented as commercial aviation and defense. The commercial aviation segment is expected to grow at a higher CAGR during the forecast period. Snowballing orders for commercial aircraft from developing regions have majorly contributed to the rise in demand for commercial aircraft, which, in turn, has led to the demand for aviation actuator systems in the commercial aviation segment.
Aviation Actuator Systems Market Share: By Region
In terms of regions, North America dominated the aviation actuator systems market, as of 2018, followed by Europe, and is expected to continue its dominance during the forecast period. The North American market is also estimated to register the highest growth in the coming five years. Factors governing the growth of the aviation actuator systems market comprise expansionary fiscal & monetary policy, low oil prices, deleveraging private sector, and steady labor market. Further, North America is the leading manufacturer of fighter and military transport aircraft, which serves as a catalyst towards the growth of the aviation actuator systems market. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period. China and India are the growth engines of the region.
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