LONDON--(BUSINESS WIRE)--The global commercial aircraft aftermarket parts market is expected to register a CAGR of over 6% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the growth of e-commerce. The introduction of e-commerce has brought about vital changes in many industries such as the aircraft part industry. E-commerce has altered the way purchases are made. It has increased the accuracy and efficiency of conducting business and has cracked open the world of business-to-business (B2B) global distribution.
This market research report on the global commercial aircraft aftermarket parts market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the introduction of 3D printing technology as one of the key emerging trends in the global commercial aircraft aftermarket parts market:
Global commercial aircraft aftermarket parts market: Introduction of 3D printing technology
Additive manufacturing or 3D printing is a manufacturing technique in which consecutive layers of material are laid down one over the other to achieve the final product. A digital 3D design data is used to build an object in layers. The 3D printing technology is slowly gaining traction in the aerospace industry. 3D printing technique allows manufacturing products using varied materials such as metals, composites, and polymers.
“One of the major aircraft engine manufacturers have developed an aircraft engine from large sections that were 3D printed as a single piece. The vendor has also unveiled its unnamed 3D metal printer that is suitable for making aircraft parts. The machine is capable of printing parts as large as one meter in diameter directly from a computer file,” says a senior analyst at Technavio for research on aerospace components.
Global commercial aircraft aftermarket parts market: Segmentation analysis and forecast
This market research report segments the global commercial aircraft aftermarket parts market into the following applications (MRO parts and rotable scrap replacement parts) and key regions (the Americas, APAC, and EMEA).
The MRO parts segment held the largest market share in 2017, accounting for more than 87% of the market. The market share of this segment is expected to decrease to some extent during the forecast period.
EMEA contributed for the largest share of the global commercial aircraft aftermarket parts market in 2017, accounting for a share of more than 37%. It was followed by the Americas and APAC. The APAC region is expected to post the fastest growth through 2022.
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