Release date : 2020-09-09
The majority spare parts businesses are doomed to failure
Locatory.com experts point out that in order to win over a considerable market share in the extremely competitive and economically demanding environment the aviation sector must constantly seek for new ways of developing and expanding the existent and potential client base and increasing the rate of customer retention. The major task, however, is to determine the best strategy that would enable the industry to achieve the best possible results.
‘Connecting international markets has long been (and remains to be) one of the main approaches aimed at accelerating business in the aviation sector. The spare parts and components sub-sector is no exception. For instance, a North American aircraft might require technical support and maintenance in Asia, Africa or Latin America. In such a case the properly developed relationships among airlines and aircraft technical maintenance companies located in various geographical locations are simply vital for business success of all parties involved. Certain business is only as limited as limited is the market.’, – explained Chief Commercial Officer of Locatory.com Vytautas Vorobjovas.
Six out of ten largest aviation companies in the world operate from the USA
The USA aviation industry amounts to 25% of the entire global aviation industry. However, Locatory.com has observed that smaller American companies are hesitant to invest in brand awareness and international expansion. Such companies might be losing millions of dollars in profits that would otherwise be obtained from positioning their activities on international spare parts platforms such as Locatory.com. The alike strategic development is more than often equivalent to a strong marketing campaign aimed at determining target customer segments.
‘Six out of ten largest aviation companies in the world operate from the USA. In order to raise awareness and strengthen position in the inner market and internationally (especially in the rapidly growing markets) aviation companies must put extra emphasis on their image. A properly developed and well positioned image is the key to attracting major investments. This fact ignored is one of the main reasons why smaller companies vanish every day giving way to larger, more experienced market players.’, – concluded V.Vorobjovas.