Military Actuators Market Opportunities, Size, Share, Emerging Trends, Technological Innovation, Forecasts & Regional Analysis (Latin America, North America, Asia Pacific, Europe, Middle East)
Global Military Actuators Market is valued approximately at USD 1.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2022-2031. Military automation is the current trend in the aerospace & defense industry. Several aerospace & defense manufacturers are integrating automated technologies in their military aircrafts with the aim of improving their fighting capabilities, which creates a huge demand for military actuators across the globe. Military actuators play a significant role in the aerospace & defense sector as it provides precision control for speed, force, and position of military aircraft. Also, the military actuators used to monitor the smooth and secure landing of aircraft.
The rising demand for electrical actuators from the aerospace & defense industry, growing military & defense budget, and increasing initiatives for automation in military applications are the few factors responsible for the CAGR of the market during the forecast period. According to the Stockholm International Peace Research Institute (SIPRI), the total military expenditure across the world was estimated at nearly USD 1822 billion in 2018, representing an increase of 2.6 percent from 2017. Similarly, the US government has announced a base budget for defense of around USD 671 billion in 2021, an increase of USD 6 billion from the financial year 2020 (USD 665 billion). This, in turn, is likely to strengthen the demand for military actuators, thereby reinforcing the market growth all over the world. However, the high overhaul and maintenance cost of actuators and stringent government regulations related to power consumption, noise, and leakage are the few factors restraining the market growth over the forecast period of 2022-2031.
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The regional analysis of the global Military Actuators market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the favorable government support for the growth of the aerospace and defense sector, along with the wide presence of market players in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2022-2031. Factors such as the rising military & defense budgets and the rapid automation in military applications in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.
Major market player included in this report are:
Triumph Group, Inc.
Nook Industries Inc
Arkwin Industries, Inc.
Elektro-Metall Export GmbH
Beaver Aerospace & Defense
Whippany Actuation Systems
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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