Military Actuators Global Market Report 2023

Major players in the military actuators market are Curtiss-Wright Corporation, Triumph Group, Moog Inc., Meggitt plc, Venture Mfg. Co., Parker-Hannifin Corporation, Kyntronics, Nook Industries Inc., Ametek Inc.

New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Military Actuators Global Market Report 2023" - https://www.reportlinker.com/p06480081/?utm_source=GNW , Ultra Motion, Elektro-Metall Export GmbH, Honeywell International Inc., Safran S.A., Arkwin Industries Inc., and Hunt Valve Company.The global military actuators market is expected to grow from $1.33 billion in 2022 to $1.48 billion in 2023 at a compound annual growth rate (CAGR) of 11.10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The military actuators market is expected to reach $2.20 billion in 2027 at a CAGR of 10.42%.The military actuator market consists of sales of clevises, spindles, gears and inner tubes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Military actuator refers to actuators that are used in military machines and equipment to achieve automation and movement. An actuator is a component of a machine or system that aids in generating mechanical force by converting energy, frequently electrical, air, or hydraulic energy.North America was the largest region in the military actuators market in 2022. The regions covered in the military actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of military actuators are linear and rotary.Linear actuators refer to devices that move between two points in a linear motion.Linear actuators are used in the military for motion control, torque transmission, and equipment automation.These are common components of artillery carriers, fighter planes, tanks, sailing ships, and other vehicles.The various components of military actuators include cylinders, drives, servo valves, manifolds, and others that have systems such as hydraulic actuators, electrical actuators, pneumatic actuators, electromechanical actuators, and others. The military actuators are suitable for armed forces of land, air, and sea.The growing military spending is significantly contributing to the growth of the military actuators market going forward.Military spending refers to money spent by a government to provide weapons, equipment, and soldiers to its military.Military actuators are used to provide motion control provision of torque, and equipment automation for logistics to transport, weapon operation, and other crucial applications in the military sector.The growing military spending of various countries around the world is a key driver of the military actuators market.For instance, according to the April 2022 data released by the Stockholm International Peace Research Institute (SIPRI), a Sweden-based government institute that provides information, analysis, and suggestions regarding armed conflict, military spending, the arms trade, disarmament, and arms control, the worldwide military expenditure increased by 0.7% in real terms in 2021, to reach $2,113 billion. Therefore, the growing military spending will drive the military actuators market.Product innovation is the key trend gaining popularity in the military actuators market.Major companies operating in the military actuator markets are focusing on making military actuators with better features and greater applications.For instance, in December 2020, UAVOS Inc., a US-based provider of proprietary unmanned aerial, terrestrial, and aquatic vehicle solutions launched new Xservo series of servo actuators. It includes an inbuilt CANopen/EtherCAT motion controller, allowing customers to simplify development by eliminating the need for mechanical and electrical integration of a passive servo actuator with an external controller. The actuators are well-suited for a variety of rotating applications in UAVs (unmanned aerial vehicles).In September 2021, Fairbanks Morse Defense (FMD), a US-based manufacturer of naval engines acquired Hunt Valve Company Inc. for an undisclosed amount. The acquisition expanded FMD’s service options and capabilities for shipyard, defense, and industrial clients, including its assistance and support for the U.S. Nuclear Navy. Hunt Valve Company Inc. is a US-based naval valves and electromechanical actuators manufacturing company.The countries covered in the military actuators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The military actuators market research report is one of a series of new reports that provides military actuators market statistics, including military actuators industry global market size, regional shares, competitors with a military actuators market share, detailed military actuators market segments, market trends and opportunities, and any further data you may need to thrive in the military actuators industry. This military actuators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06480081/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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