Driving Growth: Examination of the Automotive Torque Actuator Motors Market Across Regions - APAC, North America, Europe, South America, Middle East, and Africa - Forecast 2023-2027
Originally Published on: TechnavioAutomotive Torque Actuator Motors Market Analysis APAC,North America,Europe,South America,Middle East and Africa - US,China,Japan,Germany,UK - Size and Forecast 2023-2027
The global automotive torque actuator motors market is poised to expand by USD 3,372.46 million from 2022 to 2027, with an anticipated CAGR of 6.62%. This growth is propelled by factors such as the rising popularity and adoption of electric vehicles (EVs), consumer expenditure on advanced vehicle features, and innovation in automotive actuator technologies. Notably, the US holds the largest market share, valued at USD 1,972.89 million in 2021.
Automotive Torque Actuator Motors Market Forecast 2023-2027
Obtain insights into the market size and forecast for the automotive torque actuator motors market during the specified period.
Market Segmentation by Application, Vehicle Type, Geography
This comprehensive market report delves into segmentation by application (ETC, turbocharger, and EGR), vehicle type (passenger vehicles and commercial vehicles), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Market Application Analysis
The ETC segment is poised to experience significant growth, driven by its essential role in modern vehicles to regulate throttle opening and control engine torque output. Torque actuators play a critical role in various automotive systems, enhancing drivability, fuel efficiency, and integration with advanced vehicle systems.
Market Vehicle Type Analysis
Passenger vehicles dominate the market share, with torque actuators being indispensable for precise torque control in electric powertrains. As the adoption of passenger EVs increases, so does the demand for torque actuators to implement advanced driver assistance systems, improving power delivery and overall driving experience.
Market Region Analysis
APAC is forecasted to contribute 34% to the global market growth, fueled by the growing demand for electric and hybrid vehicles and the integration of advanced driver assistance systems. The region's emphasis on clean transportation solutions and technological advancements drives market expansion.
Market Dynamics
Comprehend key drivers, trends, and challenges shaping the market, including the surging popularity of EVs, the emergence of autonomous driving and ADAS, and the considerable costs associated with torque actuators. Companies must refine marketing strategies to effectively leverage market dynamics.
Key Automotive Torque Actuator Motors Market Companies
Prominent companies like Curtisswright offer innovative torque actuator motors tailored to meet evolving industry demands. Detailed analyses of competitive landscapes and information about key market players aid in understanding market dynamics and industry trends.
Market Analyst Overview
The market is undergoing significant transformation driven by the integration of automotive DC motors in turbochargers, enhancing vehicle performance and fuel efficiency. Increasing vehicle production, particularly in developing countries, and the surge in EV adoption create demand for torque actuators to efficiently manage power distribution.
Market Scope
Receive comprehensive coverage of the market dynamics, growth momentum, regional analysis, competitive landscape, and key companies profiled. Customization options are available to address specific research needs.
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Early Warning Radar Market Demand, Growth & Future Outlook, Size, Share | Global Industry Analysis, 2019-2027
Global Early Warning Radar Market: Introduction
A new study on the global early warning radar market was published by Transparency Market Research (TMR). It presents detailed information of key market dynamics, including the market drivers, market trends, and market challenges, as well as the structure of the global early warning radar market. TMR’s study offers valuable information on the global early warning radar market in order to illustrate how the market is expected to expand during the forecast period, i.e. 2019–2027.
In terms of revenue, the global early warning radar market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global early warning radar market.
Modern airborne early warning radars help detect, track, and control interceptors. Military radar systems aid air and ground surveillance, early detection, air traffic control, and sea navigation in a big way. These systems are also used to track terrorist activities, along with cameras that use ultrasonic frequency and multiple object detection, using image processing to achieve higher national border protection. The procurement of air defense systems and radars would drive the military radar market as a result of increasing regional instability and transnational disputes. Likewise, the production of drones and UAVs is estimated to also propel the military radar sector during the forecast period.
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The report delves into the competition landscape of the global early warning radar market. Key players operating in the global early warning radar market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global early warning radar market that have been profiled in this report.
Global Early Warning Radar Market: Key Players
Key players operating in the global early warning radar market include CurtissWright Corporation, BAE Systems PLC, Thales Group, SAAB A.B., Elbit Systems Ltd, Lockheed Martin Corporation, General Dynamics Corporation, and The Raytheon Company.
On March 8, 2018, Lockheed Martin announced a new joint venture to pursue the next generation Integrated Air and Missile Defense System, “TLVS,” for the German Bundeswehr. This joint venture is expected to strengthen the company’s global position in integrated air and missile defense systems, and thereby, consolidate the company’s position in the early warning radar market.
Global Early Warning Radar Market: Market Dynamics
An early-warning radar is a system that is mostly utilized to identify long-range targets, which allows defense forces to be alerted as early as possible before an attacker hits a target, providing air defense units maximum time to operate and retaliate. This compares to devices that are mostly used to track weapons, which tend to offer shorter ranges, but provide higher precision.
Early warning radars, along with cameras, are being used with ultrasonic frequency that employs image processing so as to provide higher security at national borders. The need for advanced situational awareness and information dissemination abilities is driving the development and procurement of several radars for aircraft, rotorcraft, and UAVs. Early warning radar systems help defense and paramilitary forces achieve varied capabilities such as relatively low-cost ISR improved, electronic attack (EA), strike missions, suppression/destruction of enemy air defense (SEAD / DEAD), network nodes, communications relays, and search and rescue (CSAR) combat. Such radars are better equipped to detect targets and also track multiple targets. Compared to previous vacuum-tube-based radars, these also have a longer range and multi-function capabilities. Such developments have led to significant adoption, with these new systems replacing obsolete TWT and klystron-based radars. Expenditure on defense is anticipated to be driven by the ever-growing need for early threat detection and situational awareness, technological innovations in the industry, adaptability to new platforms, internal and external security threats, territorial disputes, and modernization initiatives undertaken by armed forces across the world. The growing demand for border surveillance radars and the need for new generation air and missile defense systems is expected to offer significant opportunities to the early warning radar market during the forecast period.
However, high expenses involved in improving military early warning radars is a key factor that is likely to hamper the global military radar market during the forecast period.
Global Early Warning Radar Market: Prominent Regions
Asia Pacific is a prominent market for early warning radars, globally. Expansion of the early warning radar market in the region can be attributed to considerably high investments in research & development activities by manufacturers operating in the region. Moreover, the rising adoption of early warning radars in developing economies in Asia Pacific, owing to technological advancements and cost-efficiency, is also attributed to drive the early warning radar market in the region. Emerging economies in the region are witnessing expansion of military infrastructure. This, in turn, is boosting the overall demand for early warning radars.
The market in Asia Pacific, due to rising terrorist activities, is estimated to expand significantly over the next few years, due to the ongoing arms race among countries in the region, strong economic growth, and China’s growing assertiveness in territorial disputes with its neighbors. Countries such as India, Pakistan, South Korea, North Korea, China, and Japan are installing early warning radars by entering into various agreements and collaborations. Therefore, the early warning radar market in the region is witnessing consistent expansion.
The early warning radar market in North America is estimated to expand significantly during the forecast period, owing to the presence of a large number of prominent market players in the region, and continuous technological advancements. The early warning radar market in the Middle East & Africa is expected to expand at a moderate pace in the near future, due to the considerable expansion of the defense sector in this region.
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Key Questions Answered in TMR’s Early Warning Radar Market Study
What would be the Y-o-Y growth trend of the early warning radar market between 2019 and 2027?
What is the influence of the changing trends in technologies on the global early warning radar market?
Would Asia Pacific continue to remain the most profitable regional market for providers of early warning radars?
Which factors would hinder the growth of the global early warning radar market during the forecast period?
Which are the leading companies operating in the global early warning radar market?
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