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value of aircraft components including pumps, motors and actuators have increased thanks in small part to new aircraft production, but largely as a result of increasing demand for air services. Using data for the five years ending in April 2017, the value of power cylinders and actuators shipped grew by 12.9 percent on an annual basis, while the value of pumps and motors shipped increased 5 percent annually. Looking to the future, GBI expects the aircraft compo- nents industry will experience continued growth as low operating costs and a growing worldwide population of air-travelers powers the expansion of the worldwide aviation market. As the flying population continues to grow this will create strong demand for new and reconditioned jets, able to transport more people to more destination pairs. Technological advancements which have brought geographically diverse sources of oil from shale rock forma- tions and deep-sea deposits to market will limit OPEC's ability to inflate oil and jet fuel prices. e dynamics of the oil market moving forward will result in airlines being able to profitably sell seats to cost conscious travelers, driving the quantity of seat-miles consumed even higher. We expect this combination of a growing consumer base and low operating costs to benefit the aerospace components manufacturers and the OEMs well into the future. e global aviation market represents a significant source of future growth for the machine tool market. It will be important for machine tool firms to build international relationships that will allow them to capture market share and growth in those regions of the world that are experi- encing double-digit demand for air transportation. If aircraft manufacturers such as Boeing, Airbus and others are going to run their facilities at ever higher levels of capacity for the next five or more years, it will be important for their compo- nent suppliers to have strong operational and logistical capabilities to support these demanding aircraft delivery schedules. is will mean that machine tool providers will also need to be prepared to meet the growing and highly demanding needs of their customers at all levels of the aerospace manufacturing supply chain—having new equipment ready for sale and to be able to quickly support existing equipment maintenance and repair needs. CONTRIBUTOR Michael Guckes is senior economist at Gardner Business Intelligence, the research and market intelligence division of Gardner Business Media. He provides forecasting, modeling and consulting services to GBI clients and content for all Gardner brands. For more information about GBI, visit gardnerweb.com. T h e o p t i m a l t o o l s f o r a e r o s p a c e m a n u f a c t u r e r s F rom jet engines to landing gear and cabin components, the multiple materials and configurations demanded by aerospace manufacturers require tooling that is not only precise but extremely rugged. For more than 28 years, Carmex has been delivering the quality, versatility, and value that has kept both major OEMs and sub-contractors in the air—and in the black. Contact your Carmex Representative 262-628-5030 or 888-628-5030 sales@carmexusa.com www.carmexusa.com Count on Carmex for applications including: • Thread milling • Grooving • Thread turning • Chamfering • Key slotting • Special applications Whatever the material or the challenge, Carmex tooling delivers top-flight results . The optimal tools for your industry TM Lorem ipsum SEE US AT BOOTH #607 productionmachining.com :: 33 SPECIAL REPORT