(MENAFN - Comserve) Shibuya-ku, Tokyo, Japan, Japan, Feb 19, 2021, 08:20 /Comserve / -- The military actuators market comprises major solution providers, such as Curtiss-Wright (US), Moog (US), Parker Hannifin (US), Honeywell (US), Triumph Group (US), Meggitt (UK), Venture Mfg. Co (US), Kyntronics (US), and Nook Industries (US).
'Ongoing military automation across the globe is expected to drive the military actuators market growth. The military actuators market size is expected to grow from USD 1.1 billion in 2019 to USD 1.4 billion by 2024, at a CAGR of 5.79% during the forecast period. Military automation is the latest trend in the global defense industry. Most countries across the globe have started adopting military automation to enhance their combat capabilities. This has led to an increased demand for military actuators, worldwide. The development of new and advanced electrical actuators with improved permanent magnet materials has led to their increased robustness and efficiency.