US - Electric Actuators for Marine and Defense Market by Type, Application and Material - Forecast and Analysis 2024-2028
| Published: Nov 2023 | Pages: 148 | SKU: IRTNTR75005 |
US Electric Actuators Market in Marine Defense: Trends and Analysis
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.
Overview of the US Electric Actuators Market
Market Forecast 2024-2028
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Market Size and Forecast for Electric Actuators in Marine Defense
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.
Trends and Growth Drivers in the US Electric Actuators Market
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.
Key US Electric Actuators Market Driver
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.
Market Trends
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.
Challenges in the US Electric Actuators Market Marine Defense
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.
In-Depth Analysis of the Marine Defense Sector
Type Segment Analysis:
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.
Application Segment Analysis:
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.
Key Players and Competitor Analysis
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.
Segment Overview
The market research and growth report provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
- Type Outlook
- Linear actuator
- Rotary actuator
- Application Outlook
- Vehicle and equipment
- Industrial automation
- Robotics
- Material Outlook
- Steel
- Plastic
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Industry Scope |
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Report Coverage |
Details |
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Page number |
148 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.27% |
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Market Growth 2024-2028 |
USD 190.84 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.15 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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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. |
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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. |
What are the Key Data Covered in this Market Growth and Forecasting Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive growth between 2024 and 2028
- Precise estimation and contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across US
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of the companies
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Material
- Exhibit 07: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 08: Parent market
- Exhibit 09: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 10: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 11: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 12: Chart on US - Market size and forecast 2023-2028 ($ million)
- Exhibit 13: Data Table on US - Market size and forecast 2023-2028 ($ million)
- Exhibit 14: Chart on US: Year-over-year growth 2023-2028 (%)
- Exhibit 15: Data Table on US: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Electric actuators market for marine and defense industry in US 2018 - 2022
- Exhibit 16: Historic Market Size – Data Table on electric actuators market for marine and defense industry in US 2018 - 2022 ($ million)
- 4.2 Type Segment Analysis 2018 - 2022
- Exhibit 17: Historic Market Size – Type Segment 2018 - 2022 ($ million)
- 4.3 Application Segment Analysis 2018 - 2022
- Exhibit 18: Historic Market Size – Application Segment 2018 - 2022 ($ million)
- 4.4 Material Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Material Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 23: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 24: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 25: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 26: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 27: Chart on Type - Market share 2023-2028 (%)
- Exhibit 28: Data Table on Type - Market share 2023-2028 (%)
- 6.2 Comparison by Type
- Exhibit 29: Chart on Comparison by Type
- Exhibit 30: Data Table on Comparison by Type
- 6.3 Linear actuator - Market size and forecast 2023-2028
- Exhibit 31: Chart on Linear actuator - Market size and forecast 2023-2028 ($ million)
- Exhibit 32: Data Table on Linear actuator - Market size and forecast 2023-2028 ($ million)
- Exhibit 33: Chart on Linear actuator - Year-over-year growth 2023-2028 (%)
- Exhibit 34: Data Table on Linear actuator - Year-over-year growth 2023-2028 (%)
- 6.4 Rotary actuator - Market size and forecast 2023-2028
- Exhibit 35: Chart on Rotary actuator - Market size and forecast 2023-2028 ($ million)
- Exhibit 36: Data Table on Rotary actuator - Market size and forecast 2023-2028 ($ million)
- Exhibit 37: Chart on Rotary actuator - Year-over-year growth 2023-2028 (%)
- Exhibit 38: Data Table on Rotary actuator - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Type
- Exhibit 39: Market opportunity by Type ($ million)
- Exhibit 40: Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by Application
- 7.1 Market segments
- Exhibit 41: Chart on Application - Market share 2023-2028 (%)
- Exhibit 42: Data Table on Application - Market share 2023-2028 (%)
- 7.2 Comparison by Application
- Exhibit 43: Chart on Comparison by Application
- Exhibit 44: Data Table on Comparison by Application
- 7.3 Vehicle and equipment - Market size and forecast 2023-2028
- Exhibit 45: Chart on Vehicle and equipment - Market size and forecast 2023-2028 ($ million)
- Exhibit 46: Data Table on Vehicle and equipment - Market size and forecast 2023-2028 ($ million)
- Exhibit 47: Chart on Vehicle and equipment - Year-over-year growth 2023-2028 (%)
- Exhibit 48: Data Table on Vehicle and equipment - Year-over-year growth 2023-2028 (%)
- 7.4 Industrial automation - Market size and forecast 2023-2028
- Exhibit 49: Chart on Industrial automation - Market size and forecast 2023-2028 ($ million)
- Exhibit 50: Data Table on Industrial automation - Market size and forecast 2023-2028 ($ million)
- Exhibit 51: Chart on Industrial automation - Year-over-year growth 2023-2028 (%)
- Exhibit 52: Data Table on Industrial automation - Year-over-year growth 2023-2028 (%)
- 7.5 Robotics - Market size and forecast 2023-2028
- Exhibit 53: Chart on Robotics - Market size and forecast 2023-2028 ($ million)
- Exhibit 54: Data Table on Robotics - Market size and forecast 2023-2028 ($ million)
- Exhibit 55: Chart on Robotics - Year-over-year growth 2023-2028 (%)
- Exhibit 56: Data Table on Robotics - Year-over-year growth 2023-2028 (%)
- 7.6 Market opportunity by Application
- Exhibit 57: Market opportunity by Application ($ million)
- Exhibit 58: Data Table on Market opportunity by Application ($ million)
8 Market Segmentation by Material
- 8.1 Market segments
- Exhibit 59: Chart on Material - Market share 2023-2028 (%)
- Exhibit 60: Data Table on Material - Market share 2023-2028 (%)
- 8.2 Comparison by Material
- Exhibit 61: Chart on Comparison by Material
- Exhibit 62: Data Table on Comparison by Material
- 8.3 Steel - Market size and forecast 2023-2028
- Exhibit 63: Chart on Steel - Market size and forecast 2023-2028 ($ million)
- Exhibit 64: Data Table on Steel - Market size and forecast 2023-2028 ($ million)
- Exhibit 65: Chart on Steel - Year-over-year growth 2023-2028 (%)
- Exhibit 66: Data Table on Steel - Year-over-year growth 2023-2028 (%)
- 8.4 Plastic - Market size and forecast 2023-2028
- Exhibit 67: Chart on Plastic - Market size and forecast 2023-2028 ($ million)
- Exhibit 68: Data Table on Plastic - Market size and forecast 2023-2028 ($ million)
- Exhibit 69: Chart on Plastic - Year-over-year growth 2023-2028 (%)
- Exhibit 70: Data Table on Plastic - Year-over-year growth 2023-2028 (%)
- 8.5 Market opportunity by Material
- Exhibit 71: Market opportunity by Material ($ million)
- Exhibit 72: Data Table on Market opportunity by Material ($ million)
9 Customer Landscape
- 9.1 Customer landscape overview
- Exhibit 73: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 74: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 75: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 76: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 77: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 78: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 79: Matrix on vendor position and classification
- 12.3 AMETEK Inc.
- Exhibit 80: AMETEK Inc. - Overview
- Exhibit 81: AMETEK Inc. - Business segments
- Exhibit 82: AMETEK Inc. - Key offerings
- Exhibit 83: AMETEK Inc. - Segment focus
- 12.4 AUMA Riester GmbH and Co. KG
- Exhibit 84: AUMA Riester GmbH and Co. KG - Overview
- Exhibit 85: AUMA Riester GmbH and Co. KG - Product / Service
- Exhibit 86: AUMA Riester GmbH and Co. KG - Key offerings
- 12.5 Bray International Inc.
- Exhibit 87: Bray International Inc. - Overview
- Exhibit 88: Bray International Inc. - Product / Service
- Exhibit 89: Bray International Inc. - Key offerings
- 12.6 Creative Motion Control
- Exhibit 90: Creative Motion Control - Overview
- Exhibit 91: Creative Motion Control - Product / Service
- Exhibit 92: Creative Motion Control - Key offerings
- 12.7 Curtiss Wright Corp.
- Exhibit 93: Curtiss Wright Corp. - Overview
- Exhibit 94: Curtiss Wright Corp. - Business segments
- Exhibit 95: Curtiss Wright Corp. - Key offerings
- Exhibit 96: Curtiss Wright Corp. - Segment focus
- 12.8 Emerson Electric Co.
- Exhibit 97: Emerson Electric Co. - Overview
- Exhibit 98: Emerson Electric Co. - Business segments
- Exhibit 99: Emerson Electric Co. - Key news
- Exhibit 100: Emerson Electric Co. - Key offerings
- Exhibit 101: Emerson Electric Co. - Segment focus
- 12.9 Honeywell International Inc.
- Exhibit 102: Honeywell International Inc. - Overview
- Exhibit 103: Honeywell International Inc. - Business segments
- Exhibit 104: Honeywell International Inc. - Key news
- Exhibit 105: Honeywell International Inc. - Key offerings
- Exhibit 106: Honeywell International Inc. - Segment focus
- 12.10 LINAK AS
- Exhibit 107: LINAK AS - Overview
- Exhibit 108: LINAK AS - Product / Service
- Exhibit 109: LINAK AS - Key offerings
- 12.11 Moog Inc.
- Exhibit 110: Moog Inc. - Overview
- Exhibit 111: Moog Inc. - Business segments
- Exhibit 112: Moog Inc. - Key offerings
- Exhibit 113: Moog Inc. - Segment focus
- 12.12 Parker Hannifin Corp.
- Exhibit 114: Parker Hannifin Corp. - Overview
- Exhibit 115: Parker Hannifin Corp. - Business segments
- Exhibit 116: Parker Hannifin Corp. - Key news
- Exhibit 117: Parker Hannifin Corp. - Key offerings
- Exhibit 118: Parker Hannifin Corp. - Segment focus
- 12.13 Rotork Plc
- Exhibit 119: Rotork Plc - Overview
- Exhibit 120: Rotork Plc - Business segments
- Exhibit 121: Rotork Plc - Key offerings
- Exhibit 122: Rotork Plc - Segment focus
- 12.14 Schlumberger Ltd.
- Exhibit 123: Schlumberger Ltd. - Overview
- Exhibit 124: Schlumberger Ltd. - Business segments
- Exhibit 125: Schlumberger Ltd. - Key news
- Exhibit 126: Schlumberger Ltd. - Key offerings
- Exhibit 127: Schlumberger Ltd. - Segment focus
- 12.15 TAMAGAWA SEIKI Co. Ltd.
- Exhibit 128: TAMAGAWA SEIKI Co. Ltd. - Overview
- Exhibit 129: TAMAGAWA SEIKI Co. Ltd. - Product / Service
- Exhibit 130: TAMAGAWA SEIKI Co. Ltd. - Key offerings
- 12.16 Thomson Industries Inc.
- Exhibit 131: Thomson Industries Inc. - Overview
- Exhibit 132: Thomson Industries Inc. - Product / Service
- Exhibit 133: Thomson Industries Inc. - Key offerings
- 12.17 TiMOTION Technology Co. Ltd.
- Exhibit 134: TiMOTION Technology Co. Ltd. - Overview
- Exhibit 135: TiMOTION Technology Co. Ltd. - Product / Service
- Exhibit 136: TiMOTION Technology Co. Ltd. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 137: Inclusions checklist
- Exhibit 138: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 139: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 140: Research methodology
- Exhibit 141: Validation techniques employed for market sizing
- Exhibit 142: Information sources
- 13.5 List of abbreviations
- Exhibit 143: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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electric actuators market in us market
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- What are the factors influencing the growth of the parent market?
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