Global Military Actuators Market

Global Military Actuators Market Size, Share, Growth Analysis, By Application(Air, Land), By System(Electrical, Hydraulic), By Components(Cylinders, Drives), By Type(Linear, Rotary) - Industry Forecast 2024-2031

Report ID: SQMIG20A2050 | Region: Global | Published Date: February, 2024
Pages: 270 | Tables: 118 | Figures: 77

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Military Actuators Market size was valued at USD 14.5 billion in 2019 and is poised to grow from USD 15.4 billion in 2023 to USD 23.62 billion by 2031, growing at a CAGR of 6.3% in the forecast period (2024-2031).

The global military actuators market is characterised by intense competition on account of the presence of prominent military actuators manufacturers serving major geographies across the globe. Armor producers increase their sales by investing, developing top-notch R&D infrastructure, and expanding their market reach. To maintain their position in the market and gain a competitive edge, the market players are heavily investing in their R&D facilities and launching cutting-edge products. ' Curtiss-Wright - (US) ', ' Moog - (US) ', ' Parker Hannifin - (US) ', ' Triumph Group - (US) ', ' Meggitt - (UK) ', ' Venture Mfg. Co - (US) ', ' Kyntronics - (US) ', ' Nook Industries - (US) ', ' Elektro-Metall Export GmbH - (Germany) ', ' Honeywell International Inc - (US) ', ' Curtiss-Wright Corporation - (US) ', ' Triumph Group - (US) ', ' Moog, Inc - (US) ', ' Kyntronics - (US) ', ' NOOK Industries, INC - (US) ', ' Safran - (France) ', ' Arkwin Industries, Inc - (US) ', ' Hunt Valve Company - (US) ', ' AMETEK, Inc - (US) ', ' Ultra Motion - (US) '

The rising demand for actuators from military aircraft is one of the major factors driving the market expansion. Military actuator demand is driven by nations with large military budgets and is expected to remain stable throughout the forecast period.

Due to the growing need for advanced protection solutions in the defence and military industries, North America held the largest share (33.7%) and has dominated the global military actuators market. Being the top military spender in the world, the United States has access to the most cutting-edge and substantial amount of defence equipment, significantly boosting the market's expansion in North America.

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Global Military Actuators Market

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