Pursuit for Technology & Innovation in Aerospace
October 13, 2017
The global aerospace industry is undergoing a major transformation with the development of new technologies, ever-increasing cost pressures, as well as the quest for higher production rates to satisfy the commercial aircraft backlog. The global economic environment drives the aerospace industry – passenger air traffic will grow driving a demand for 33,000 new aircrafts by 2035. All of this combines to provide immense opportunities for aerospace manufacturers to pursue their dreams and aspirations. It is up to them to seize every opportunity that comes their way, and execute it flawlessly.
To enable growth, they must invest in the latest technologies. This way they can remain competitive and sustain innovative ecosystem solutions, in the ever-evolving global supply chain. One should remember that employees are a major stakeholder in these initiatives and leadership needs to provide the guidance and inspiration to unleash the potential of the workforce. Together, achieving the aforementioned goals is well within reach if they remain committed to our mission, vision, and values.
Finally, there needs to arise among aerospace manufacturing firms an ecosystem mentality. What this means, is that they need to innovate the global supply chain solutions to become cost and time efficient. With the supply chain getting more and more globalized, it is imperative for aerospace manufacturers to adopt strategies and techniques that mitigate the risks of globalization while delivering efficiency and value at every step of the supply chain.