NEW YORK , Oct. 16, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The Global Electric Actuators Market size is estimated to grow by USD 4.26 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 4.9% during the forecast period. Growing demand for commercial and defense aircraft is driving market growth, with a trend towards increased benefits of electric actuators over hydraulic or pneumatic actuators .
However, faulty and loosely insulated electric actuators and malfunctioning risks poses a challenge - Key market players include ABB Ltd., Actuonix Motion Devices Inc., AUMA Riester GmbH and Co.
KG, Curtiss Wright Corp., Emerson Electric Co., Flowserve Corp.
, General Electric Co., HanKun Beijing Fluid Control Technology Co. Ltd.
, IMI Plc, LINAK AS, Moog Inc., Parker Hannifin Corp., Pon Holdings BV, Rotork Plc, Schaeffler AG, Siemens AG, SMC Corp.
, SNNA BEFK Union Tech Inc., Statewide Bearings, and TiMOTION Technology Co. Ltd.
. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report Electric Actuators Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 4.
9% Market growth 2024-2028 USD 4259.2 million Market structure Fragmented YoY growth 2022-2023 (%) 4.6 Regional analysis APAC, Europe, North America, Middle East and Africa, and .