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According to this report the global aircraft actuator market was valued at US$ 7,700.33 million in 2019 and is projected to reach US$ 11,631.67 million by 2027; it is expected to grow at a CAGR of 6.6% from 2020 to 2027.
The aircraft actuator industry is continuously evolving with innovations to provide smaller, lighter, and cost-effective actuation systems. The rising demand for electromechanical actuators to enhance the actuation processes is propelling the market growth. An advent of electric aircraft is creating a new opportunities for the market players to focus on developing lighter, smaller, and efficient aircraft actuators. Further, increasing demand for small and narrow-body aircraft fleet from developing and developed nations propels the market growth. As the new electric actuators perform faster operations with minimal maintenance cost, major companies are selecting these products over hydraulic a
(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 effici