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The US - Electric Actuators for Marine and Defense Market is projected to grow by USD 190.84 million at a CAGR of 5.27% between 2023 and 2028. The market is driven by the need for efficient and reliable control systems in naval vessels and maritime defense infrastructure. The systems provide precise and accurate control over functions such as valve operation, engine control, weapon systems, and surveillance equipment in marine defense applications.
The market trends and analysis report includes a comprehensive outlook offering forecasts for the industry segmented by Type, which comprises linear actuator and rotary actuator. Additionally, it categorizes Application into vehicle and equipment, industrial automation, and robotics, and covers Material, including steel and plastic. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Market Forecast 2024-2028
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The market is poised for significant growth, driven by increasing demand for advanced control systems. Market analysis and reports indicate a substantial rise in contracts worldwide, with notable developments in Russia and Ukraine. As these nations modernize their naval vessels, the market forecast, particularly in valve applications, remains robust. More than half of marine defense vessels in the US are equipped with actuators for improved power and control.
Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. The market in marine defense refers to the industry of systems used in various marine defense applications. Electric actuators are devices that convert electrical energy into mechanical motion, used to control or automate operations in marine defense equipment and systems.
The demand for defense aircraft fleets is increasing in the US during the forecast period. For instance, the US Department of Defense (DoD) currently operates about 450 F-35 aircraft and plans to operate about 2,500 of them by the mid-2040s. The US is the headquarters for a prominent number of aircraft owners with a significant share of the aircraft fleet, such as F-35, F-16, F-22, and others. Increasing expenditure in the defense industry is one of the major factors for the rise in the number of aircraft.
Moreover, the use of defense aircraft helps reduce the burden on maintenance personnel and provides higher reliability and lower lifecycle costs. Additionally, almost all shipbuilding projects in the US incorporate electric actuators for enhanced operational efficiency. Electric linear actuators hold a significant market share. Hence, with the growth in demand for defense aircraft and ships, the demand is also expected to increase, thereby driving the industry during the forecast period.
The high growth potential of the market is encouraging companies in the market to enter into strategic partnerships and acquisitions to expand their customer base and footprint. Therefore, companies in the US - electric actuators for marine actuators market are forming strategic partnerships and carrying out acquisitions to remain competitive. For instance, in January 2022, Moog Inc. collaborated with the US military research agency, the Defense Advanced Research Projects Agency (DARPA), to deploy its electromechanical actuators for launch motion control in DARPA's Gremlins unmanned aircraft.
Therefore, such development in the electric actuator for marine and defense industry is expected to accelerate the market growth and trends during the forecast period.
The initial setup cost in the marine and defense industry is higher when compared with alternatives like pneumatic actuators and hydraulic actuators, which can impact their demand. For instance, the cost of the actuator is USD 100- USD 2,000, depending on the electronics and design, whereas the cost of a pneumatic actuator is around USD 100, which makes it more cost-effective.
Moreover, due to the high initial setup cost, enterprises in industries such as the marine industry might opt for substitute products instead of actuators which will hinder the growth of the market. This, in turn, may restrict the growth of the US market for marine and defense industry during the forecast period.
The market share growth by the linear actuator segment will be significant during the forecast period. This actuator takes the rotational force of a motor and converts it into linear movement. Electric linear actuators are easier to install than electric rotary actuators.
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The linear actuator segment was the largest and was valued at USD 450.96 million in 2018. Further, Due to the increased benefits, they have a wide range of applications in various industries, such as defense and marine vehicles, as well as industrial automation. This encourages various vendors to offer electric linear actuators. For instance, Thomson Industries Inc. offers electric linear actuators for the defense industry. This solution is used in hydraulic and pneumatic mechanisms, which ensures greater safety and productivity. These factors will lead to an increase in demand, which, in turn, will drive the growth of the linear actuator market during the forecast period.
Based on application, the market has been segmented into vehicle and equipment, industrial automation, and robotics. The vehicle and equipment segment will account for the largest share of this segment.? The vehicle and equipment segment is experiencing an increase in technological advances and a change in end-user preferences, due to which the demand in the vehicle and equipment segment is expected to remain stable. Fuel savings through weight reduction are prevalent in defense applications; for instance, actuators have been used in ground combat vehicles such as main battle tanks and artillery gun-laying systems, guns, and turrets. Thus, the vehicle and equipment segment is expected to grow significantly in the US market for the marine and defense industry during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AMETEK Inc - The company offers Linear actuators and Rotary actuators.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including AMETEK Inc., Arkwin Industries Inc., AUMA Riester GmbH and Co. KG, Bray International Inc., Creative Motion Control, Curtiss Wright Corp., Emerson Electric Co., Honeywell International Inc., Kyntronics Inc., LINAK AS, Moog Inc., Parker Hannifin Corp., Rotork Plc, Schlumberger Ltd., TAMAGAWA SEIKI Co. Ltd., Thomson Industries Inc., TiMOTION Technology Co. Ltd., Triumph Group Inc., Ultra Motion LLC, and Venture Mfg Co.
Technavio's market growth analysis report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research and growth report provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Industry Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.27% |
Market Growth 2024-2028 |
USD 190.84 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.15 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AMETEK Inc., Arkwin Industries Inc., AUMA Riester GmbH and Co. KG, Bray International Inc., Creative Motion Control, Curtiss Wright Corp., Emerson Electric Co., Honeywell International Inc., Kyntronics Inc., LINAK AS, Moog Inc., Parker Hannifin Corp., Rotork Plc, Schlumberger Ltd., TAMAGAWA SEIKI Co. Ltd., Thomson Industries Inc., TiMOTION Technology Co. Ltd., Triumph Group Inc., Ultra Motion LLC, and Venture Mfg Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Market Segmentation by Material
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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