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Aerospace and Defense: Still Soaring to New Heights?

In barely any other industry do companies face more difficult challenges than in the aerospace industry – complex processes, the highest safety standards, enormous cost pressure, a global sourcing market, and transnational development and production are the key parameters. The forecasts are optimistic, however. A continued increase in passenger numbers and a corresponding increase in aircraft fleet size are predicted. But there are headwinds to be faced – high oil prices and the increased demands on aircraft with regard to their environmental impact are forcing companies to develop innovative solutions. It is essential that they develop concepts and technologies that are safer and more reliable, reduce operating costs, offer passengers more comfort, and cut emissions.

In the aerospace industry, the development costs for new products, and as a result, the risks, are enormous. This means reducing development times and keeping costs within limits is now more critical than ever. Global partnerships represent one way to use common solutions to meet the challenges of the increasingly fierce competitive environment. However, this requires companies to acquire new competencies and implement efficient innovation processes.