According to the UnivDatos, “ Aircraft Actuator Market” report, the market was valued at USD 8.2 Billion in 2022 and is expected to grow at a CAGR of 7.5% during the forecast period from 2023 - 2030 to reach USD Million by 2030.  

In 2021, Parker Hannifin, a leading provider of aerospace and industrial motion and control technologies, announced plans to invest USD 450 million in the development of new manufacturing facilities and technology centers. The investment will be focused on expanding the company's capabilities in the aerospace industry and will include the construction of new manufacturing facilities and the development of new technology and manufacturing processes. The new manufacturing facilities will be located in key aerospace markets around the world, including the United States, Europe, and Asia. The investment will support the production of a wide range of aircraft actuators and other components, including hydraulic, pneumatic, and electro-mechanical systems. The new technology centers will focus on the development of advanced manufacturing technologies, such as additive manufacturing and automation, and will support the production of high-performance, low-cost components. This investment is part of Parker Hannifin's ongoing efforts to expand its capabilities in the aerospace industry and to meet the growing demand for advanced aircraft systems and components. The company has a long history of supplying aerospace customers and is a leading provider of actuation systems for commercial and military aircraft. The investment will help to ensure that the company remains at the forefront of technological developments in the aerospace industry, and will support the production of high-quality, reliable components for use in a wide range of applications.

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Some other Investments

·       In 2020, Moog Inc. announced plans to invest USD 50 million in the expansion of its aircraft actuator manufacturing facilities in China, as part of its efforts to meet the growing demand for these components in the region.

·       In 2021, Parker Hannifin announced plans to invest USD 450 million in the development of new manufacturing facilities and technology centers, with a focus on expanding its capabilities in the aerospace industry.

About Parker Hannifin

Parker Hannifin is a Fortune 250 global technology company that specializes in motion and control technologies. The company was founded in 1917 and is headquartered in Cleveland, Ohio, USA. Parker Hannifin has a global presence, with operations in more than 40 countries and sales in over 100 countries. Parker Hannifin's aerospace division is a leading provider of motion and control technologies for the aerospace industry and is responsible for the development and production of a wide range of aircraft components, including actuators, hydraulic and pneumatic systems, and electromechanical systems. The company has a long history of supplying aerospace customers and is a trusted partner of many of the world's leading aircraft manufacturers. Parker Hannifin is known for its commitment to innovation and continuous improvement and has a strong focus on research and development. The company has a long history of investing in new technologies and developing innovative solutions to meet the needs of its customers. In recent years, the company has made significant investments in the development of new manufacturing technologies and the expansion of its capabilities in the aerospace industry.

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Conclusion

Parker Hannifin has made significant investments in the development of new manufacturing technologies and the expansion of its capabilities in the aerospace industry. These investments have enabled the company to improve the efficiency and quality of its manufacturing processes and to develop new products and technologies that meet the growing demand for advanced aircraft systems and components. The aircraft actuator market is expected to continue to grow in the coming years, driven by the increasing demand for advanced aircraft systems and components, and the increasing focus on efficiency and sustainability in the aerospace industry. As a leading provider of aircraft actuators, Parker Hannifin is well-positioned to take advantage of these trends and is likely to continue to invest in the development of new products and technologies to meet the needs of its customers.

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