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Industrial spare parts markets are big

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Aviation Spare Parts

Worldwide market size in 2019

$907.2 billion

CAGR from 2020 to 2027

4.1%

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Automotive Spare Parts

Worldwide market size in 2019

$378.4 billion

CAGR from 2020 to 2027

4.0%

THE FUTURE OF SPARE PARTS IS DIGITAL

The key challenge in spare part management is to maintain high spare part availability with low cost.