Global Increased Disposable Income Booms Transportation Manufacturing Industry
The global transportation manufacturing market was valued at around $8 trillion in 2017. Asia Pacific was the largest region in the transportation manufacturing market in 2017, accounting for over 38% market share.
(EMAILWIRE.COM, January 03, 2019 ) The global transportation manufacturing market, during the historic period it grew at a compound annual growth rate (CAGR) of around 7%. This was due to increase in new vehicle sales in rapidly developing countries such as China and India owing to rise in disposable income, increased demand for hybrid electric vehicles, availability of credit and low fuel prices.
For the forecasted period, the transportation manufacturing market size is expected to be over $ 10000 billion by 2021, growing at a CAGR of nearly 6.5%. The growth rate for forecasted period is almost the same when compared to the historic period. This can be attributed to the positive economic outlook, increasing demand for transportation services owing to rapid urbanization, policy makers’ green energy funding initiative, advancements in technology and increasing consumer demand for fuel efficient vehicles.
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Digital technologies such as block chain are being adopted by aircraft manufacturing companies to monitor performance of aircraft components and systems as the process is highly specialized and complex. Block chain 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 an IoT driven blockchain to collect details about every component part.
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For the forecasted period, the transportation manufacturing market size is expected to be over $ 10000 billion by 2021, growing at a CAGR of nearly 6.5%. The growth rate for forecasted period is almost the same when compared to the historic period. This can be attributed to the positive economic outlook, increasing demand for transportation services owing to rapid urbanization, policy makers’ green energy funding initiative, advancements in technology and increasing consumer demand for fuel efficient vehicles.
View Full Report: https://www.thebusinessresearchcompany.com/report/transportation-manufacturing-global-market-report-2018
Digital technologies such as block chain are being adopted by aircraft manufacturing companies to monitor performance of aircraft components and systems as the process is highly specialized and complex. Block chain 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 an IoT driven blockchain to collect details about every component part.
Download a sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=339&type=smp
About The Business Research Company:
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.
Contact Information:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow us on Linkedin: https://in.linkedin.com/company/the-business-research-company
Contact Information:
The Business Research Company
Marketing TBRC
Tel: +91 8897263534
Email us
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The Business Research Company
Marketing TBRC
Tel: +91 8897263534
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results