Market Introduction
The Middle Eastern and African countries are witnessing a rise in demand for advanced aircraft actuators to evaluate and ensure that flights control systems are performing up to the mark. According to the Federal Aviation Administration in the Middle East, the aviation industry is experiencing an annual growth rate of 10%. Similarly, African countries are experiencing growth in the aviation industry after increase in air passenger count due to liberalization of air service agreements. The IATA projects are expecting growth in annual passengers by almost 5.9% over the next 20 years, which accounts for more than 300 million additional air passengers. Various countries in the region are identifying the potential of implementing advanced technologies in aircraft. They are in a bid to enhance the aircraft facilities. The aviation industry in this region is strengthening with increase in aircraft fleet. For instance, in November 2019, Middle East Airlines (MEA), the national airline of Lebanon, procured the new aircraft fleet from Airbus. Four A330NEOs, eleven A321NEOs, and four A321XLRs aircraft would be added into the fleet. Similarly, the UAE is also enhancing its aircraft fleet to meet the need for increased international flights. For instance, in September 2017, approximately 90 million passengers have been registered at Dubai International Airport. The country is expecting to equip over 1,375 registered business jets in the fleet by 2020. The country is investing strong capital to meet the robust demand for aircraft, aircraft parts, aircraft equipment, and services. Increasing number of passengers has created the need for additional aircraft in the commercial sector. Countries are setting new goals for aviation industry growth and procuring new aircraft to meet the demand. For instance, in October 2020, Kuwait Airways has received the delivery of first two Airbus A330neos. The country is equipping new aircraft having mid-sized capacity with excellent travelling range for long distance flights.
The MEA aircraft actuators market is majorly affected by the disruption in the supply chain. Pertaining to the closure of borders of countries, the supply chain of several components and systems have been disturbed. The demand for advanced aerospace technologies such as aircraft actuators has declined during the lockdown period. This has resulted in a loss of business among the aircraft actuators market players offering their products to respective customers in the MEA region. South Africa has few aircraft manufacturers, which produce general aviation piston aircraft. The widespread COVID – 19 viruses have led the manufacturers to suspend their operations or operate with a minimal workforce temporarily. This has weakened the demand for actuation systems, thereby hindering the aircraft actuators market in the country. Additionally, the disruption in the supply chain business owing to the trade ban has also reflected adverse effects on aircraft actuators market in the country
Market Overview and Dynamics
The aircraft actuators market in MEA is expected to grow from US$ 274.03 million in 2020 to US$ 336.11 million by 2027. Highlight Aircraft Order and Delivery Volumes in Use of Electrotechnical Actuators. The aviation industry is maturing at a rapid rate over the years, recording a significant number of production and deliveries of aircraft (commercial and military) fleet. The commercial aviation industry is on a tremendous rise over the past few years with the emergence of low-cost carriers (LCCs) and expansion strategies of fleet adopted by the full-service carriers (FSCs). These two factors have showcased massive order volumes on various commercial aircraft manufacturers across the world. Commercial aviation is foreseen to surge in the coming years with an increase in air travel passengers and aircraft volumes. This factor is anticipated to drive the aircraft production, thereby boosting the aircraft actuators market. Airbus and Boeing are the two aircraft manufacturing giants with significantly higher volumes of orders and delivery statistics. These two aircraft original equipment manufacturers. This is bolstering the growth of the aircraft actuators market.
Key Market Segments
In terms of end user, the Commercial Aircraft segment accounted for the largest share of the MEA aircraft actuators market in 2019. Further, the Commercial Aircraft segment held a larger share of the market based on end user in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the aircraft actuators market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Collins Aerospace; Raytheon Technologies Company;Eaton Corporation plc, Honeywell International Inc; Moog Inc.; Parker-Hannifin Corporation; TransDigm Group Incorporated; Woodward, Inc.
Reasons to buy report
MEA AIRCRAFT ACTUATORS MARKET SEGMENTATION
By Type
By System
By End User
By Country
By Companies
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 274.03 million |
| Market Size by 2027 | US$ 336.11 million |
| CAGR (2020 - 2027) | 3.0% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Aircraft Actuators Market is valued at US$ 274.03 million in 2020, it is projected to reach US$ 336.11 million by 2027.
As per our report Middle East & Africa Aircraft Actuators Market, the market size is valued at US$ 274.03 million in 2020, projecting it to reach US$ 336.11 million by 2027. This translates to a CAGR of approximately 3.0% during the forecast period.
The Middle East & Africa Aircraft Actuators Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Aircraft Actuators Market report:
The Middle East & Africa Aircraft Actuators Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Aircraft Actuators Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Aircraft Actuators Market value chain can benefit from the information contained in a comprehensive market report.
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