Aircraft Hardware Demand (and Prices) are Taking Off
The demand for aircraft hardware is sky rocketing as air travel becomes more accessible. Take a closer look at the industry and what it means for prices.
Did you know that the two biggest heavyweights in aerospace manufacturing are currently falling short of producing enough planes to meet the sky-high demands? These demands are also what’s driving the increase in aircraft hardware prices.
To put things in perspective, Airbus and Boeing would both have to build 30 percent more planes annually than they do now, just to meet existing orders for the end of the decade.
In fact, Airbus found itself falling so far behind its 2016 production schedule that they had to dramatically increase their labor force and staffing at the end of the year, including over the Christmas holidays, just to stay on track.
So is your only choice just to brace and prepare for industry trends to push up prices, while pushing down your bottom line?
How to Save on Aircraft Hardware
Your best bet is to investigate parts that use alternate materials, yet give you the same level of performance and safety as the more traditional, and more expensive, parts.
Let’s take a major selling part like fasteners, for example. This is obviously a big ticket item and one that’s in high demand. In fact, experts are predicting that the worldwide market for aerospace fasteners is projected to be worth $7.5 billion by 2024.
A less expensive option would be something like the Visu-Lok fastener. Unlike your more conventional nut and bolt pairings, the Visu-Lok is fully installed and verified from one side of the structure.
These less expensive parts are guaranteed to perform up to the standards set out in the Fastener Quality Act of 1999.
They also utilize titanium and super-alloy materials, which are less expensive than stainless steel, yet proven to perform just as well under intense heat and pressure.
No Need to Sacrifice Quality to Trim Costs
Let us put your mind at ease and tell you that cutting costs doesn’t have to mean cutting corners.
A lot of people in aviation and aerospace get very nervous when they hear the words “lower cost aircraft hardware.” This doesn’t have to mean “cheap.”
Heads turned and headlines were made when an aerospace parts company faced allegations that it falsely certified it had performed required inspections on aerospace parts used in military aircraft.
In the end, they had to pay out $2.7 million to settle the lawsuit, and suddenly quality control in aerospace was a hotter topic than it had ever been before.
You can read about our quality assurance policy here. In short, we track every single part’s journey through production to assure safety and quality at every step.
We also use a full chemical and physical laboratory to perform functional and destructive tests. If a part is found to be flawed or faulty, the entire lot is assumed to be the same and sent back.
Don’t Overpay or Settle When Buying Aircraft Hardware
As we stated earlier, there is no need to choose between safe parts and good parts. You can decrease your spending, without giving up quality or safety. This is what we’ve built our reputation on, and we stand by it.
You can click here to contact us anytime.