The electronic actuators are increasingly being adopted by aircraft manufacturers and operators as an alternative to conventional hydraulic and pneumatic actuator systems. They are cost-effective and enhance commercial and defense aircraft performance by giving faster reaction time. Also, electric actuators reduce the burden on maintenance personnel since they are more reliable than conventional actuators. Many airlines operating in countries such as the United States, China, Germany, Canada, the United Kingdom, India and South Korea include more aircraft in their fleet to accommodate the growing number of passengers. United Airlines, for example, recently announced its plans to bring 40 new mainline aircraft to its fleet. With the increasing adoption worldwide of commercial and defense aircraft, demand for electric actuators will increase over the forecast period. The increasing demand for commercial and defense aircraft is one of the key drivers fueling the growth of the market size of electric actuators.
Major market trends for electric actuators, such as increasing the use of electric actuators in smart homes, will also influence market growth during the forecast period. Electric actuators are used for providing linear motion for certain equipment in smart home appliances. For example, electric actuators are used to adjust the height in the sit-stand desks. They are also used to tilt the blades, and to open and close the pergola roof. The growing popularity of smart homes is expected to have a positive impact on market growth for electric actuators.
The market segment for linear actuators held the largest market share in 2018 and will account for the highest market share of electric actuators over the forecast period. The linear actuators provide accurate speed, acceleration, position, and torque control. They are easy to troubleshoot, and multiple operations can be reprogrammed. Many of those benefits allow business vendors to sell linear electric actuators. Electric linear actuators are used in various applications such as automotive, medical, industrial equipment, material handling, agricultural machinery, etc. These actuators are responsible to deliver speed, control, and precision. However, it is considered to come with a higher initial cost and a more complex design as compared to fluid power cylinders (either pneumatic or hydraulic).
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With a comprehensive study of business growth opportunities, it was found that APAC will account for the highest share of the market for electric actuators over the forecast period. Countries like the Philippines, Singapore, Malaysia and Vietnam are investing heavily in the shipbuilding industry to boost domestic employment. Other countries like China, India and Japan add more military vessels to their fleet. These developments foster market growth for electric actuators in APAC.
Electric Actuators Market Revenue & Forecast, (US$ Million), 2015 – 2027
The report provides both, qualitative and quantitative research of electric actuators market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.
The major market players operating in the market include: ABB Ltd., Emerson Electric Co., General Electric Co., LINAK AS, Moog Inc., Parker-Hannifin Corp., Rotork Plc, Siemens AG, SMC Corp., and Toshiba Corp.
Electric Actuators Market:
By Product Type: Linear Actuator, Rotary Actuator
By End Use: Automotive Industry, Water and Wastewater Industry, Marine Industry, Aerospace and Defense Industry, Other End-Users
North America: (U.S, Canada, Mexico, Rest of North America)
Europe: (France, The UK, Spain, Germany, Italy)
Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast Asia: (Indonesia, Thailand, Singapore)
Rest of Southeast Asia
Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
Latin America: (Brazil, Argentina, Rest of Latina America)
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