The aerospace industry is a major source of technological progress and innovation. It is important for national defence, facilitates safe and efficient air travel, improves communication and knowledge diffusion, and helps greater consumerism, procurement optimization, and supply chain globalization.
The aerospace sector has enjoyed an impressive track record of achievement since the Wright Brothers’ first powered flight in 1903. It’s no surprise that the American aerospace industry’s positive track record and strength make it one of the largest contributors to employment in manufacturing.
From transforming modern transportation to landing a man on the Moon — it’s no surprise that the American aerospace industry positive track record and strength make it one of the largest employment contributors in manufacturing. So, what are some of the major problems that this organization is dealing with?
Managing the Supply Chain in Aerospace
Every manufacturing sub-sector of the aerospace and defence industry (A&D) enjoyed growth last year, from commercial aerospace to cyber. According to Deloitte, annual worldwide aircraft manufacturing is expected to expand by 25% over the next decade.
The aerospace fasteners market is predicted to grow steadily in line with sourcing activities on Thomasnet.com. As large manufacturers like Boeing and Airbus improve their production output, the demand for fasteners will skyrocket, with a particular focus on titanium fasteners.
However, some suppliers are finding it difficult to keep up with the demand. Airbus and Boeing have ambitious production rates, with record order books for commercial OEMs supporting forward production for 8-10 years.
Managing A Diverse Workforce and Retaining It
The aerospace industry’s most valuable asset is its employees, with an average compensation and benefits package of $92,742 – much greater than the average American earnings of $49,389.
To remain a leader in the aerospace sector, it is critical to developing a workforce with the requisite capabilities to compete globally. Because the aerospace and defence industry’s products and services are unlike any other, it’s diversifying its workforce in science, engineering, and math (STEM).
New Approaches Embraced Across Generations
The aircraft sector is well-established – Boeing has been around for over a century! The aerospace sector’s personnel are extremely seasoned and knowledgeable, as the industry is more evolutionary than revolutionary. However, conserving that knowledge while fostering collaboration and innovation across generations is a challenge.
While many manufacturing and industrial firms have adopted new technology such as AI and robotics on the factory floor, many are still hesitant to accept a digital transformation in their sales and marketing departments. Marketing and sales were cited as a major difficulty by 22% of small business owners surveyed in the United States by Thomas.
Traditional methods of growth are no longer the only ones available. Companies must provide continual training to motivate the next generation of workers while ensuring that older workers are not left behind.
“On the advice of our major customer, Boeing, we began our internet marketing using Thomasnet.com. They informed me that Thomasnet.com was the first place their engineers looked for supplier information, “According to a Tiodize representative. “We’re continuously looking for new ways to put our products in front of decision-makers when they need them.
Aerospace Consulting is a quick and easy way for us to accomplish this. Every year, we’ve gained more consumers while increasing our average sales per customer. Thomasnet.com is ideal for businesses without a national sales team.”
Innovation in a Hurry
New technologies are speeding up innovation while lowering the entrance barriers to the aerospace industry. New companies reinvent short-range transportation, while regional aircraft manufacturers are putting additional pressure on the broader commercial aviation industry. How can the sector and major OEMs take advantage of this faster innovation without jeopardizing established and trusted processes? If breaking the cost curve is the goal, one of the most effective methods is to capture, cultivate, and deploy accelerated innovation.
In the aerospace industry, get a competitive advantage.
The A&D base is powerful and innovative, capable of delivering a vast supply with industry leaders enterprises. ESI, the custom metal stamping and assembly services company, utilized new technology to broaden its market reach, including tapping into the aerospace industry. What actions can you take as a supplier or manufacturer to ensure that your company is considered for aerospace and defence contracts? There are several routes to becoming a defence supplier, each with its own set of standards, such as ISO certifications, ITAR, and First Article Inspection (FAI).
Great storytelling is still at the heart of every successful brand awareness campaign, as well as the key to converting leads into customers. Every business, especially aerospace manufacturers, has a cause that is important to its brand. Because we’re all human, these causes are frequently important to the brand’s consumers as well. The perfect tales start conversations, demonstrate your knowledge, and ultimately lead to more leads and sales.
The Aerospace Industries Association, for example, has made sustainability and green business practices a priority. Consider your company’s contribution to environmental sustainability and green manufacturing. How can you tell this tale in a way that your customers will understand? Showcase your green credentials on your website and use an inbound marketing strategy to assist your content marketing efforts – after all, you want to be shortlisted and win the bidding process, right?
Keeping your website up to date with certifications, registrations, sustainability efforts, and other important topics to the aerospace sector will ensure that your brand stands out during the evaluation process.
Validation, verification, and testing
Daily, I address ways in which we may accelerate the maturity of an engineering lifecycle and ways in which we can work in a more agile manner, with lower costs and better real-time collaboration, all while pursuing a single digital thread. Virtual Test, Validation, and Verification, in my opinion, is one of THE most important areas of concentration. The day will come when obtaining certification will not require a lorry load of documentation.