Aircraft, Engine and Parts Manufacturing Industry Revenue to Rise
Revenue for the aircraft, engine and parts manufacturing industry is expected to rise slightly in the five years to 2018 as consumers resume air travel and airlines renew their fleets. In addition, as new, more technologically advanced aircraft come to market, companies will command higher prices, leading to improved profit, according to a new report from IBISWorld.
Despite record-high fuel prices, airlines worldwide have a ravenous need to renew or expand fleets. The aircraft, engine and parts manufacturing industry reportedly feeds this hunger by manufacturing and overhauling aircraft and aircraft engines; industry operators also manufacture aircraft-related parts and equipment. In addition, the industry has introduced new products like fuel-efficient planes, including the Boeing 787 Dreamliner that was released in September 2011.