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(USGovernment-News.Com, March 07, 2019 ) According to the new research report "Military Actuators Market by Application (Air, Land, Naval), System (Electrical, Hydraulic, Pneumatic, Mechanical), Component (Cylinders, Drives, Servo Valves, Manifolds), Type (Linear, Rotary), and Region - Global Forecast to 2024", The military actuators market 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. Ongoing military automation across the globe and increasing demand for electrical actuators from the aerospace & defense industry are expected to be the major factors driving the market.
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By system, the military actuators market is segmented into hydraulic, electrical, pneumatic, and mechanical. Among these, the hydraulic actuators segment is expected to be the fastest-growing segment during the forecast period. Hydraulic actuators are widely used in the aerospace & defense sector. They are extensively used in different parts of aircraft. Hydraulic actuators are rarely used in the marine industry due to the possible issues of leakage of fuels. In some applications, these actuators involve additional maintenance costs due to increased oil consumption by them resulting from leakage issues.
By type, the military actuators market is segmented into linear actuator, rotary actuator, multi-axis positioning actuators, and semi-rotary actuators. Among these, the linear actuators segment is expected to be the fastest-growing segment during the forecast period. Linear actuators are primarily used in the aerospace & defense applications as they help in enhancing the operational efficiency of weapons. These actuators comprise ball or lead screws, belts, and voice coils, among others.
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North America is estimated to account for the largest share of the military actuators market in 2019. This region is highly fragmented with a large number of manufacturers of military actuators,
namely, Honeywell (US), Parker Hannifin (US), and Moog (US), among others. Increased use of linear actuators in various defense applications in the North American region is expected to contribute their rising demand in the near future, thereby driving the military actuators market in the region.
In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.
The military actuators market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of components, applications, systems, and types. The supply side is characterized by advancements in technologies and diverse application industries. Various primary sources from both, the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents.
Major vendors in the military actuators market are 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). Parker Hannifin, a specialist in electromechanical actuators, is expected to be the third-largest supplier and manufacturer of military actuators in 2018. The company provides a wide range of products, which adhere to the finest quality standards. Ultra Motion introduced its new R series spaceflight actuators for thrust vector
controls, throttle controls, and fin controls in space and aerospace applications in October 2018. AMETEK launched ACL23A-4 aileron and rudder trim actuator systems for the Pilatus PC-24 super versatile jet in April 2018. The company is strategically developing innovative products for upcoming trends in the end-use market.
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