The Hydraulic Actuators Market Size is expected to garner $2.4 billion by 2022, registering a CAGR of 3.6% during the forecast period 2016 - 2022. Asia-Pacific leads the hydraulic actuator market, followed by North America. Growth in the region would be supplemented by increasing construction and manufacturing activities and rising demand from developing countries including China and India.
Top Companies
AMETEK, Astronics Corporation, Curtiss-Wright Corporation, Eaton Corporation Plc, Honeywell International Inc ITT Inc., Liebherr-International AG , MOOG, Nabtesco Corporation, Raytheon Technologies Corporation, Saab AB, Safran SA, itec Aerospace GmbH Tamagawa Seiki Co., Ltd., Woodward
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The report analyzes these key players in the global aircraft actuator market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
The application segment comprises mobile equipment, industrial, and aviation & others. In 2014, mobile equipment segment occupied a prominent share of the overall market revenue, followed by industrial segment. Moreover, the segment is anticipated to grow at the fastest CAGR of 3.9% during the forecast period, owing to increasing demand for construction, mining and agriculture equipment across the globe. The industrial segment is anticipated to grow at a notable pace due to increasing usage of hydraulic actuators in manufacturing equipment.
Drivers, Restraints and Opportunities
Surge in operations in commercial aviation, increase in the demand for fuel efficiency, rise in the adoption of electric actuators, remarkable surge in air travel activities & air traffic across the globe are expected to drive the growth of the global aircraft actuators market. In addition, increase in military expenditure, and persistent technological advancements in aircrafts in both developing and developed economies are expected to create ample opportunities for the growth of the global aircraft actuator market.
From a growth perspective, Asia-Pacific is anticipated to witness the fastest CAGR of around 5% during the forecast period, on account of increasing demand from countries such as China, India, Australia and others. LAMEA is estimated to grow at a CAGR of 3.7% during 2016 2022, due to increasing usage of hydraulic actuators in mining, oil exploration and construction activities in the region.
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