Market Size of Military Actuators Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 3.14 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Military Actuators Market Analysis
The military actuators market is projected to register a CAGR of 3.14% during the forecast period (2023-2028).
The market of military actuators was slightly affected due to the impact of the COVID-19 pandemic as the deliveries of aircraft decreased in 2020. However, as the global economy recovered in 2021 and manufacturing facilities began operating at production rates similar to the pre-COVID levels, the demand for military actuators is expected to witness positive growth during the forecast period.
The gradually growing military spending of various countries in the world due to geopolitical issues and border tensions is propelling the procurement of new military equipment such as armored vehicles, aircraft, and naval vessels to strengthen their military capabilities. Such procurements are driving the growth of the military actuators market during the forecast period.
The companies and armed forces are collaborating on introducing advanced manufacturing technologies like 3D printing into the defense industry. The 3D printed technology is anticipated to allow the companies to manufacture the actuators into a single structure, which will reduce their overall weight. The introduction of such technologies is anticipated to accelerate the growth of the market in the coming years.
The growing emphasis on the development of local defense manufacturing facilities in the Asia-Pacific and Middle-East and Africa is allowing the actuator manufacturing companies to shift their focus towards these regions to enhance their sales in the coming years.
Military Actuators Industry Segmentation
Actuators are devices that convert energy into motion and are majorly used in moving or controlling mechanisms and systems. Actuators are operated by an external source of energy, typically electric current, hydraulic fluid pressure, or pneumatic pressure which is then converted into motion. Actuators perform two basic motions which are linear as well as rotary motions. Moreover, actuators are available in varying types, sizes, and power configurations depending upon the application they are being used for.
The Military Actuators Market is segmented based on type, system, application, and geography. By type, the market is segmented into Linear and Rotary. By system, the market is segmented into Electrical, Mechanical, Hydraulic, and Pneumatic. The market is also segmented based on application into Land, Air, and Sea. The report also covers the market sizes and forecasts for the Military Actuators Market across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million). The market includes actuation systems deployed in missile systems, manned and unmanned platforms (across the land, air, and sea), and other weapon systems.
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Military Actuators Market Size Summary
The military actuators market is poised for growth, driven by increasing global military expenditures and the procurement of advanced military equipment. The recovery from the COVID-19 pandemic has seen manufacturing facilities return to pre-pandemic production levels, boosting demand for military actuators. Geopolitical tensions and the need to enhance military capabilities are prompting countries to invest in new armored vehicles, aircraft, and naval vessels, which in turn fuels the market. The integration of advanced manufacturing technologies, such as 3D printing, is expected to further accelerate market growth by enabling the production of lighter, more efficient actuators. Additionally, the focus on developing local defense manufacturing facilities in regions like Asia-Pacific and the Middle-East and Africa is shifting the attention of actuator manufacturers towards these areas, enhancing their market presence and sales.
North America is anticipated to experience significant growth in the military actuators market, largely due to substantial investments in defense capabilities by the United States and Canada. The demand for linear and rotary military actuators is driven by the procurement of advanced weapons, armored vehicles, and military equipment. The United States, as the leading defense spender, is actively enhancing its defense systems, which propels the market forward. The fragmented nature of the market sees numerous players, such as Raytheon Technologies Corporation, Curtiss-Wright Corporation, and Moog Inc., actively participating in various military programs. These companies are forming strategic partnerships with defense original equipment manufacturers to supply actuators for military platforms, further contributing to market growth.
Military Actuators Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2031)
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2.1 Type
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2.1.1 Linear
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2.1.2 Rotary
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2.2 System
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2.2.1 Mechanical
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2.2.2 Hydraulic
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2.2.3 Elecrtical
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2.2.4 Pneumatic
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2.3 Application
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2.3.1 Land
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2.3.2 Air
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2.3.3 Sea
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 France
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2.4.2.4 Russia
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2.4.2.5 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Rest of Latin America
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2.4.5 Middle East and Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 Egypt
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2.4.5.4 Turkey
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2.4.5.5 Rest of Middle East and Africa
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Military Actuators Market Size FAQs
What is the current Military Actuators Market size?
The Military Actuators Market is projected to register a CAGR of 3.14% during the forecast period (2024-2029)
Who are the key players in Military Actuators Market?
Raytheon Technologies Corporation, Curtiss-Wright Corporation, Moog Inc. , Nook Industries, Inc. and Kyntronics are the major companies operating in the Military Actuators Market.