Additive manufacturing is continuously evolving and manufacturers are now using 3D printing technology to produce parts for aircrafts and aircraft engines.3D printing creates a three-dimensional physical object using a digital design. They are 25% lighter, simpler and offer more design features than conventional parts. This enables manufacturers to create high performance aircraft engines and components. GE Aviation has introduced 3D printed parts in its aircraft engines. In 2016, Airbus unveiled the first aircraft made using 3D printing technology. Boeing has also planned to use 3D printed titanium parts in the construction of its 787 Dreamliner jets that is expected to save about $3 million in construction costs.

THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL AIRCRAFT AND COMPONENTS MANUFACTURING MARKET TO GROW TO $2 TRILLION BY 2021

North America was the largest region in the aircraft and components manufacturing market in 2017, accounting for two-fifth of the market share. This was due to presence of major aircraft manufacturers such as Boeing in this region. The aircraft and components manufacturing industry also experienced significant growth in Mexico because of the investments by the Canadian company Bombardier, and increasing participation of companies such as GE, Airbus, Honeywell, Eurocopter and Safran Group, among other international companies in other parts of the region.

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According to The Business Research Company’s Consultant, Nitin Gianchandani, aircraft manufacturers are using machine learning techniques such as artificial intelligence (AI) to improve safety, productivity and quality of aircrafts. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision making. These technologies optimize manufacturing operations and costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines which increases lifecycle of parts and reduces maintenance costs. Boeing has successfully built machine learning algorithms for aircraft designing and to automate factory operations.

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Boeing was the largest player in the aircraft and components manufacturing market, with revenues of $65.1 billion in 2016. Boeing’s growth strategy is to expand its operations in emerging markets. In 2017, the company opened the Boeing India Engineering and Technology Center (BIETC) in Bengaluru, India.

The aircraft and components manufacturing industry includes establishments manufacturing aircraft, aircraft engine and engine parts and other aircraft parts and auxiliary equipment.

Aircraft and Components manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.

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