North America was the largest region, in the aircrafts, aircraft components manufacturing and repair services market in 2017, accounting for 36.7% share in the market. This was due to strong air travel market in the region which includes USA and Canada and presence of major aircraft manufacturers such as Boeing, and Lockheed Martin and Textron Inc., who uses aircraft components during the manufacturing of aircrafts.Asia-Pacific was the second largest region, accounting for 22.6% share in the market. Africa was the smallest region in the aircrafts, aircraft components manufacturing and repair services market in 2017, accounting for 3.7% share in the market.
Machine Learning Algorithms In Aircrafts
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.
Aircrafts, aircraft components manufacturing and repair services industry consists of companies involved in developing prototypes and manufacturing or assembling of complete aircrafts, and aircraft parts. This industry also includes companies that provide modifications or conversions, repairing, parts replacing, and complete overhauling and rebuilding of aircraft. The types of aircraft manufactured by companies in this industry include blimps, gliders, helicopters, target drones, ultra-light aircraft and unmanned and robotic aircrafts.
Companies Covered: The Boeing Company, Airbus Group, United Technologies Corp., General Electric Company, and Lockheed Martin Corp.
Market Segments Included: Aircraft Manufacturing, Aircraft Parts Manufacturing, Repair & Maintenance
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