Top Five Trends Of The Global Aerospace Market 2021 By The Business Research Company

LONDON, May 04, 2021 (GLOBE NEWSWIRE) — The Business Research Company Aerospace Global Market Report 2021: COVID-19 Impact and Recovery To 2030 is one of a series of new reports that provide market overviews, market size and growth for the whole market, market segments, and market trends.

The top five trends of the global aerospace market 2021 are:

      1)   Blockchain To Shape Aircraft Manufacturing

Digital technologies such as Blockchain are being adopted by aircraft manufacturing companies to monitor performance of aircraft parts and systems as the manufacturing process is highly specialized and complex. Blockchain is a data structure used to establish a digital archive or record blocks of data which can be accessed across a network of computers.

For instance, Boeing has implemented IoT (internet of things)-driven blockchain to collect details about every component. This helps to predict maintenance events, optimize production operations and extend the life cycle of parts. Airbus has identified blockchain applications in the areas of supply chain tracking, procurement support and revenue sharing.

      2)   Machine Learning Algorithms In Aircraft Manufacture

Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve aircraft safety and improve manufacturing productivity. 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 lower costs.

For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases the components’ lives and reduces maintenance costs. Boeing has successfully built machine-learning algorithms to design aircraft and automate factory operations.

      3)   In-Flight Entertainment Systems To Enhance Traveler Luxury Preferences         

In-flight entertainment systems are becoming increasingly popular due to changing passenger preferences. In-flight entertainment (IFE) systems provide sophisticated seat back computers loaded with movies or wireless setups that run content on smartphones or tablets. They also include internet connectivity, interactive maps, and surround-sound audio. These systems have become a part of the regular aircraft maintenance operation by retrofitting every two years.

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      4)   IoT Technology For Predictive Maintenance

Aircraft maintenance and repair companies are widely using IoT technology for predictive maintenance of aircraft parts and equipment. IoT technology is used to send critical data from engines, wing flaps, bleed values and landing gear to technicians for preventive maintenance. This data aids technicians to create maintenance schedules, procure parts and schedule relevant workers to fix equipment.

For example, GE aviation is widely using IoT technology to schedule preventive maintenance plans.

      5)   3D Printing For Aircraft Parts

Additive manufacturing is continuously evolving and manufacturers are now using 3D printing technology to produce parts for aircraft and aircraft engines. 3D printing creates a three-dimensional physical object using a digital design. 3D-printed parts are 25% lighter, simpler and offer more design features than conventional parts. This enables manufacturers to create high performance aircraft engines and parts.

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The Business Research Company’s report Aerospace Global Market Report 2021: COVID-19 Impact and Recovery To 2030 covers major aerospace companies, aerospace market share by company, aerospace market players.

Competitive Landscape Of The Global Aerospace Market

The aerospace market is highly concentrated with a few large players dominating the market. The top ten competitors in the market made up to 41% of the total market in 2020. Major players in the market include The Boeing Company, United Technologies Corporation, General Electric Company, Safran S.A., Rolls-Royce Holdings plc, General Dynamics Corp., Honeywell International Inc., and Bombardier Inc.

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The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

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