(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.
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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). The study includes an in-depth competitive analysis of these key players in the military actuators market, with their company profiles, recent developments, and key market strategies.
Light tactical vehicle (by platform) in land segment is expected to grow at the highest CAGR during the forecast period.
The light tactical vehicle segment is expected to be the fastest-growing land application segment during the forecast period. Increasing instances of cross-border terrorist attacks have resulted in an increased demand for light tactical vehicles for carrying out patrolling and reconnaissance activities. This, in turn, is expected to contribute to the rise in demand for military actuators used in these systems.
Fighter aircraft (by platform) in air segment is expected to lead the market for military actuators during the forecast period.
Fighter aircraft is expected to be the largest air application segment during the forecast period. The global demand for fighter aircraft is projected to grow rapidly in the coming years. The delivery of the Gripen aircraft is also expected to increase by 2019. Thus, increased demand for fighter aircraft across the globe is expected to contribute to the rise in demand for military actuators used in them.
The Asia Pacific military actuators market is expected to grow at the highest growth rate during the forecast period.
The military actuators market in the Asia Pacific region is projected to grow at the highest CAGR market during the forecast period, due to an increase in the number of military aircraft deliveries in the region. This is expected to lead to rising demand for military actuators in the region, thereby fueling the growth of the Asia Pacific military actuators market. Moreover, increased demand for mini electrical actuators for use in advanced driver assistance and aircraft sensors is also expected to fuel the growth of the military actuators market in the country.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the military actuators marketplace.
- By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
- By Designation: C-level Executives: 35%, Directors: 25%, and Others 40%
- By Region: North America: 45%, Europe: 20%, APAC: 30%, and RoW: 5%
Research Coverage:
The market study covers the military actuators market and aims at estimating the market size and growth potential across different segments, such as system, application, type, component, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall military actuators market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, challenges, and opportunities.
TABLE OF CONTENTS
1 INTRODUCTION 21
1.1 OBJECTIVES OF THE STUDY 21
1.2 DEFINITION 21
1.3 STUDY SCOPE 22
1.3.1 MARKETS COVERED 22
1.3.2 YEARS CONSIDERED FOR THE STUDY 22
1.4 CURRENCY 23
1.5 LIMITATIONS 23
1.6 STAKEHOLDERS 23
2 RESEARCH METHODOLOGY 24
2.1 RESEARCH DATA 24
2.1.1 SECONDARY DATA 26
2.1.1.1 Secondary sources 26
2.1.2 PRIMARY DATA 27
2.1.2.1 Key data from primary sources 27
2.1.2.2 Breakdown of primaries 28
2.1.3 MARKET DEFINITION & SCOPE 28
2.1.4 BY SEGMENT AND SUBSEGMENT 28
2.1.5 SEGMENT DEFINITIONS 29
2.1.5.1 Military actuators market, by type 29
2.1.5.2 Military actuators market, by system 29
2.1.5.3 Military actuators market, by application 29
2.1.5.4 Military actuators market, by component 30
2.2 RESEARCH APPROACH & METHODOLOGY 30
2.2.1 BOTTOM-UP APPROACH 30
2.2.1.1 Regional military actuators market 30
2.2.1.2 General approach for the military actuators market 31
2.2.1.3 Military actuators market approach, by type, application, component, and system 31
2.2.2 TOP-DOWN APPROACH 32
2.2.3 PRICING ANALYSIS 33
2.3 TRIANGULATION & VALIDATION 33
2.3.1 TRIANGULATION THROUGH SECONDARY 33
2.3.2 TRIANGULATION THROUGH PRIMARIES 33
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 34
2.5 RESEARCH ASSUMPTIONS 35
2.5.1 MARKET SIZING 35
2.5.2 MARKET FORECASTING 35
2.6 RISKS 36
2.7 OTHERS 37
2.7.1 GREY AREAS 37
2.7.2 LIMITATIONS 37
3 EXECUTIVE SUMMARY 38
4 PREMIUM INSIGHTS 41
4.1 ATTRACTIVE OPPORTUNITIES IN MILITARY ACTUATORS MARKET FROM 2019 TO 2024 41
4.2 MILITARY ACTUATORS MARKET, BY COMPONENT 41
4.3 MILITARY ACTUATORS MARKET, BY SYSTEM 42
4.4 MILITARY ACTUATORS MARKET, BY COUNTRY 42
5 MARKET OVERVIEW 43
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