The actuator is a mechanical device that is externally controlled by a source of energy and turns that energy into a linear or rotary control motion in order to move or stop an object in one position. A valve is a device that controls the flow of fluids (liquids, gases, and slurries) in a pipe or other enclosure. Regulation of flow is accomplished using a moveable piece that opens, closes, or partially obstructs a route opening. Several valves are utilized in the ship's piping and equipment systems depending on the flow pattern of the liquid. The marine actuators and valves market size is projected to grow from USD 2.8 Billion in 2022 to USD 3.6 Billion by 2027, at a CAGR of 5.3 %. The rise in global sea-borne trade and increasing requirement for high-performance motion control devices will drive the market for marine actuators and valves.
In the last decade, there have been developments in the materials and technologies used in valves and actuators on board marine vessels. With rising levels of global trade and increasing naval fleets around the world, marine actuators and valve manufacturers aim to develop advanced components that can meet the rigorous demands of operations. The market has undergone tremendous technological advancements, such as the development of advanced actuation technologies, the use of advanced materials, and the implementation of various safety standards. Marine actuators and valves manufacturers and ship operators are focusing on the development of actuators and valves management systems to include predictive failure evaluation and real-time health monitoring systems based on machine learning concepts. This is aimed at reducing the actuators and valves life cycle cost in future.
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Major players operating in the marine actuators and valves market include Moog Inc. (US), Honeywell International Inc. (US), Rotork plc (UK), Emerson (US) and Curtiss-Wright Corporation (US). Contracts, partnerships, agreements, new product & service launches, mergers, and acquisitions are among some of the key strategies adopted by the leading market players to strengthen and sustain their position in the marine actuators and valves market.
Moog, Inc. is a designer, producer, and systems integrator of precision motion and fluid controls and systems for use in aerospace, defence, and industrial markets. It operates in three divisions: aircraft controls, space and defence controls, and industrial systems. The Industrial Systems division customises machine performance components and systems in a number of markets by applying electrohydraulic, electromechanical, and control technologies in applications including motion control, fluid control, and power and data management. Moog provides equipment and solutions for the offshore petroleum, oceanographic, seismic, and shipbuilding industries around the world.
Honeywell International, Inc. is a software industrial corporation that specialises in aerospace and automotive products and services. It specialises in turbocharger control, sensing, and security technologies for buildings and homes, speciality chemicals, electrical and sophisticated materials, refining and petrochemical process technology, and energy efficient products and solutions for homes, businesses, and transportation. Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions are its business segments.
Rotork Plc is a holding company that designs, manufactures, and sells actuator systems and related products. Controls, Fluid Systems, Gears, and Instrumentation are its business segments. Electric actuators are designed, manufactured, and sold in the Controls market. Fluid Systems specialises in the manufacture of pneumatic and hydraulic actuators. Gearboxes, adaptation, and ancillaries for the valve sector are all part of the Gears category. For a variety of industries, the Instrumentation division provides high precision pneumatic controls and power transmission equipment. The company was established in 1945 and is headquartered in Bath, England.
Emerson is a provider of industrial automation and process management solutions to the industrial, commercial, and consumer markets. It specialises in the production of electrical, electromechanical, and electronic products. Automation Solutions, AspenTech, Climate Technologies, and Tools and Household Products are Emerson's four reportable segments. The company's Automation Solutions business focuses on optimising customer efficiency and operating costs through integrated products and solutions. Through a diverse range of products and integrated solutions, including measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems, it enables process, hybrid, and discrete manufacturers to maximise production, protect personnel and the environment, and optimise energy efficiency and operating costs.
Curtiss-Wright Corp. is a globally integrated firm that primarily serves the aerospace and defence industry, as well as vital technologies in the demanding commercial power, process, and industrial markets. It operates in three segments: aerospace and industrial, defence electronics, and naval and power. The Naval & Power segment primarily serves the naval defence and power & process markets, with products such as naval propulsion equipment, main coolant pumps, motors, generators, steam turbines, valves, and secondary propulsion systems, as well as a diverse offering of products for commercial nuclear power plants and nuclear equipment manufacturers, and specialised severe-service valve technologies for the energy and industrial markets. The corporation was founded on July 5, 1929, and is based in the United States.
Marine Actuators and Valves Market by Platform (Commercial, Defense, Unmanned), Sales Channel (OEM, Aftermarket), Product (Actuator and Valve type), Design Characteristics, Material, Application, Component and Region - Global Forecast to 2027
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