PartsBase, an aerospace and defence community of 7,400 companies, has announced a new transactional marketplace, PartStore 2.0. The new PartStore 2.0 has been completely reimagined as the industry's first transactional marketplace after undertaking a multi-year, multi-million-dollar investment into technology.

The new PartStore 2.0 builds upon the community footprint of the PartsBase family of brands by introducing a true e-commerce experience. Many large OEMs and aviation distributors are migrating their inventory, images and pricing to the new platform.

“The new PartStore creates an online platform for the aviation industry to buy and sell parts in a transactional way,” says Rodrigo Garcia, chief operating officer of PartsBase. “PartsBase completely overhauled and revamped the way buyers and sellers engage and launched a much-needed digital channel to add to the experience of our customers and vendor partners.”

PartStore 2.0 is powered by Oro, a leading B2B e-commerce platform for the modern purchasing experience. Oro works in the background to drive the new functionality of the marketplace, allowing PartsBase's customers to manage their inventories and orders in real time. Additionally, customers can take advantage of matrix ordering, so they can purchase multiple vendor inventories in a single shopping cart, a first for the aviation industry.

“Along with these innovative solutions, buyers can checkout utilising a secure transaction, and sellers are issued sales orders, all via the PartStore,” adds Garcia.

Additional notable features of the PartStore include expanded data fields, images, as well as extended shipping options. The platform is configurable, meaning additional transactional services can be easily implemented. Example future expandability into payment services (including credit lines), shipping enhancements, insurance and blockchain are slated on the development roadmap identified by the PartStore customer advisory council.

Finally, the new PartStore integrates with the PartsBase family of brands, therefore leveraging a strong digital footprint in terms of search engine optimisation and multi-channel clicks for buyers and sellers.

The world's most comprehensive network of aviation parts and services, PartsBase is utilised by more than 5,000 users every day, ranging from boutique aerospace start-ups to leading global operators and manufacturers. On a monthly basis, between 25,000 and 30,000 users access the platform to search for components, market intel and aviation repair services, with more than 12 million parts being searched for each year.

Adding 346 new companies operating 800 aircraft in Q3 2022, the PartsBase community is growing fast. To meet the business requirements of this rapidly expanding network, requirements that have changed significantly during the COVID-19 pandemic, PartsStore aims to provide advanced and powerful capabilities tailored to the specific procurement needs of the aviation industry.

“We're incredibly excited to be working with PartsBase; a real industry pioneer pushing the envelope in aviation and aerospace digital transformation,” says Yoav Kutner, CEO of Oro. “We built OroMarketplace as a distinct solution to cater to unique, complex and underserved B2B needs. I'm looking forward to collaborating with PartsBase further as we continue to enhance and scale-up its game-changing PartsStore marketplace.”