![]() Surge in demand for new technologies that provide enhanced performance, reliability, and environmental sustainability is likely to positively impact the global piezoelectric actuator industry growth during the forecast period. Thus, Increase in demand for aircraft is expected to drive piezoelectric actuator market statistics in the next few years. The actuation is accomplished using either a valve or lever arrangement based on the requirements of the system. Piezoelectric actuators are used extensively in a variety of aircraft applications, ranging from controlling engine speed and humidity levels within the aircraft to managing landing gear, wings flaps, weapon systems, pneumatic valve technology, vibration damping, micro pumps, and cargo doors to ensure smooth operation of all systems. Thus, rise in investment in the aerospace & defense sector is fueling piezoelectric actuator market expansion. The contract highlighted the increase in global demand for F-16 military aircraft. In June 2018, Lockheed Martin, an aerospace firm based in the U.S., was awarded a contract worth US$ 1.12 Bn to manufacture 16 advanced F-16 Block 70 Fighting Falcons for the Royal Bahraini Air Force. Navy for the repair of the F/A-18 landing gear. Additionally, the company was awarded a contract by the U.S. In 2021, The Boeing Company secured orders for 164 units of 737 MAX and 24 freighter airplanes, resulting in a substantial backlog of over 4,200 airplanes valued at US$ 297 Bn. They are investing significantly in the aerospace & defense sector. Expansion in Aerospace & Defense Sector Fueling Piezoelectric Actuator Market DevelopmentĬountries around the globe are enhancing their military capabilities due to rise in security concerns. They are also employed in a variety of other applications that demand precise action control such as fine lens modification, machining tools, and other machinery. Piezoelectric actuators are used to drive motors and operate special-purpose hydraulic valves. These actuators have gained widespread popularity in high-precision positioning mechanisms due to their ability to achieve small mechanical displacements at a rapid rate. ![]() Piezoelectric actuators are devices that can transform electrical energy into mechanical displacement or stress by exploiting the piezoelectric effect. Surge in government investment in the aerospace & defense sector is projected to positively impact the global piezoelectric actuator market growth in the next few years. Several studies anticipate their usage in nanotechnology, particularly in driving micro-robots, precise positioning in MEMS technology, and biotechnological probes.Īdoption of piezoelectric actuators and mechanisms is rising in aircraft applications due to their high output energy density and air and space qualification. Adoption of piezoelectric actuators is expanding beyond industrial machinery and now includes compact electronic devices such as digital cameras and cell phones. Growth in the automotive sector and rise in penetration of piezoelectric actuators in medical devices, including laser beam steering devices and surgical devices, are expected to drive the piezoelectric actuator market size in the next few years. It is estimated to grow at a CAGR of 5.2% from 2023 to 2031 and reach US$ 1.5 Bn by the end of 2031.The global industry was valued at US$ 965.3 Mn in 2022.Global Piezoelectric Actuator Market Outlook 2031
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