Military Actuators Market Overview
Military Actuators Market Size was valued at USD 0.9 Billion in 2022. The Military Actuators Market industry is projected to grow from USD 0.94 Billion in 2023 to USD 1.43 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2023 – 2032).
Growing demand for nameless systems and miniature actuators are the major drivers for the growth of the market. The growing need for compact discs, unnamed systems and technologically advanced weapons. Technical advances in actuator technology and the spread of 3D printing technology in actuator manufacturing are the most important trends in the military actuator market. Militaries around the world are constantly improving their weapon systems to maintain their superiority over their opponents. In addition, militaries around the world are increasingly using unmanned systems for various tasks such as surveillance, reconnaissance and target acquisition. For example, in September 2018, the US military signed a contract with Northrop Grumman to produce MQ-8C Fire Scout unmanned helicopters.
The MQ-8C Fire Scout is an improved version of the MQ-8B Fire Scout, equipped with improved sensors, a more powerful engine and a larger payload. Actuator miniaturization is a key trend in the military actuator market, as it allows actuators to be integrated into smaller weapon systems such as missiles and drones. For example, in September 2018, the US Department of Defense signed a contract with Raytheon to produce actuators for miniature air-launched missiles (MALM). Actuators are used in a variety of applications such as landing gear, flight control surfaces, and missile and bomb bay doors. Growing demand for unmanned aerial vehicles will drive the demand for actuators during the forecast period. However, the biggest challenge for market participants is the high price of actuators and the strict regulations related to their use. The growing demand for electric drives is anticipated to provide opportunities for market players. Thus, the revenue of the military actuators market increases.
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Segmentation
Military Actuators market segmentation by type includes linear and rotary.
System-based segmentation of the military actuators market includes mechanical, electrical, hydraulic and pneumatic.
Segmentation of the military actuators market based on components includes cylinders, actuators, manifolds and service valves.
Military propulsion market segmentation based on application includes land, sea and air. The dominant position of the rural segment in the market
By region, the study provides a market overview of North America, Europe, Asia Pacific and rest of the world. The North American military actuators market will dominate this market due to the growing demand for advanced defense solutions in the military and defense sector. These factors are driving the growth of the market in this region.
Competitive Landscape
Key Companies in the Military Actuators market include.
- Curtiss-Wright Corporation (US)
- Triumph Group (US)
- Moog, Inc. (US)
- Meggitt plc (UK)
- Venture Mfg. Co. (US)
- Parker-Hannifin Corporation (US)
- Kyntronics (US)
- NOOK Industries, INC. (US)
- AMETEK, Inc. (US)
- Ultra Motion (US)
- Elektro-Metall Export GmbH (Germany)
- Honeywell International Inc. (US)
- Safran (France)
- Arkwin Industries, Inc. (US)
- Hunt Valve Company (US)
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