COVID-19 Pandemic Rebound Driven by the Model-based Enterprise Creates Growth Opportunities
The commercial aerospace industry, common to its rich technology history, will be the leading edge in emerging technologies that will continue to shift its trajectory. This study is a deep dive into how the Fourth Industrial Revolution is shaping Aerospace 4.0 and transforming aerospace systems and the aftermarket landscape over the next decade.
The industry saw unprecedented years of growth toward the end of the last decade. This growth exposed weaknesses as the supply chain was pushed to the limits and operators scrambled to attract enough talent to sustain the labor force. The COVID-19 pandemic shook up the industry; as recovery is revealed, winners and losers will emerge and companies that have not addressed these dormant opportunities could perish.
Emerging technologies in aerospace covered in this study include:
- High-tech batteries
- Blockchain
- Wearables
- Big Data and predictive analytics
- Tracking technologies
- Advanced materials
- High-tech coatings
- Additive manufacturing
- Robotics and cobots
- Predictive maintenance
- Smart hangars and smart factories
- Artificial intelligence
- Augmented, virtual, and mixed reality
- Connectivity
- Gamification
- The Industrial Internet of Things
- Holographic and screenless displays
- Digital twins
Digitalization in aerospace has grown to a $1.5 billion business impacting every facet of the industry. OEMs, operators, suppliers, and third parties are attempting to capture a share of the convoluted array of products. The 2020s will be a decade of integration as a focus to a higher level of the business will be needed by all organizations. Gleaning best practices and embedding them into these digital systems will be the key to success.
Joint ventures, consolidations, and outright takeovers have been evident in the past few years as manufacturers embrace vertical integration in hopes of gaining back some control lost because of outsourcing.
Key Issues Addressed
- Which technologies pertain to my business?
- What top opportunities will require focus for business to grow?
- What top trends will drive the commercial aerospace market in the 2020s?
- What impact will these trends have on the market?
- What is the impact of emerging technology market growth?
- What opportunities are available for commercial aerospace vendors (aftermarket and OEMs) in the 2020s?
