Military Aerospace & Defense Lifecycle Management Market Research, Key Players, Analysis And Forecast 2027: Grand View Research Inc.
The global military
aerospace and defense lifecycle management market size is anticipated to reach USD 14.2 billion by 2027, registering a CAGR of 8.4% from 2020 to
2027, according to a new report by Grand View Research, Inc. The growing
demand for Product Lifecycle Management (PLM) software solutions from the
defense equipment manufacturers and suppliers is expected to drive the market
growth. PLM software solutions help the defense equipment manufacturers and
suppliers in every facet of the process, right from the initial concept to
development and testing processes, and efficient manufacturing.
Manufacturers of military aerospace
and defense (A&D) equipment often have to deal with several complex
components. PLM software solutions can potentially enable all these
manufacturers with the capabilities that can be implemented with complex
systems and facilities and help them in reducing energy consumption. The product
lifecycle management software solutions can also aid in carrying out the
maintenance processes efficiently and driving down the associated costs.
The military aerospace and defense
OEMs are gradually realizing the importance of lifecycle management solutions
in managing the existing and new programs in the most efficient manner. They
are also implementing lifecycle management solutions to create additional
business value for the organization by improving the operations throughout the
product/ service lifecycle. They are particularly striking long-term agreements
with lifecycle management solution providers to implement the solutions and
enhance their capabilities.
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Such solutions may typically be the
Internet of Things (IoT)-based solutions, Artificial Intelligence (AI)-based
solutions, and other automation solutions designed to manage critical
activities. The implementation of these solutions for maintenance and overhaul
activities has been rising continuously as these solutions can help in ensuring
the management and dissemination while improving the productivity of equipment
throughout the entire lifecycle. Warfighting vehicles and weapons have been
evolving continuously to feature various features driven by the latest
technologies and reliable communication capabilities. Hence, the aerospace and
defense industry has also been evolving rapidly with the integration of
cutting-edge technologies that can build faster and lighter connected tools.
Military Aerospace and Defense OEMs are aggressively adopting product lifecycle
management (PLM) solutions as part of a well-established and mature technology
strategy they are pursuing in managing the product or service lifecycle, right
from the early stages of concept generation to retirement. The OEMs are adopting
additive manufacturing to print complicated parts and components that would
otherwise require complex machining processes and incur extensive time and
cost. Some of the major lifecycle management solution providers are integrating
additive engineering and advanced manufacturing capabilities in their offerings
as part of the efforts to cater to the end-customers’ requirements.
Military
Aerospace & Defense Lifecycle Management Market Report Highlights
- Military aerospace & defense
companies are aggressively adopting the digital twin technology to improve
the product design, process design, and maintenance approaches
- 3D printing is allowing defense equipment
companies to enhance the manufacturing performance and reduce the
associated cost as compared to the conventional methods that typically
involve several stages, tools, and treatments to attain the desired
result.
- Blockchain technology is being used by
military aerospace & defense companies to record events, scheduled
maintenance checks, and monitor the operating conditions of the assets.
- Adoption of Augmented Reality (AR) in
maintenance applications is expected to replace the conventional
pen-and-paper checklist with a voice-based system for providing
step-by-step instructions on the field view, thereby enhancing the
capabilities of the workforce.
OEMs and tier-1 suppliers are
increasingly demanding highly tailored solutions that would help in addressing
use-case specific issues related to their end products. As a result, the
lifecycle management solution providers are pursuing a customer-centric
approach to cater to the evolving needs of their clients. Leading lifecycle
management solution providers, such as Siemens, offer a broad range of
technology solutions to cater to the requirements of both small and large-scale
companies operating in the aerospace and defense industry. They are
particularly focusing on delivering solutions that improve efficiency and
reduce total ownership costs. Prominent military and defense companies, such as
Lockheed Martin and The Boeing Company, have been utilizing PLM/SLM solutions
for more than a decade to improve collaboration and enhance workflow
management.
Defense applications are gradually
switching from conventional communication protocols to ethernet connections
that can potentially offer reliable and faster connectivity options.
Additionally, the continued digitization and emergence of Industry 4.0 and
connected value chain are enabling solution providers to offer advanced
capabilities by incorporating emerging technologies, especially for military
aerospace and defense companies. The latest technologies, such as AR/VR, IoT,
and big data analytics, are expected to play a pivotal role in shaping the
operations associated with the aerospace and defense industry, including aftersales
and maintenance services. These digital transformation technologies are
expected to augment the efficiency and intelligence of service, design,
testing, and production processes. The ability of these technologies to address
product complexity and successfully streamline the product lifecycle is
anticipated to create immense opportunities to implement lifecycle management
solutions.
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The market is consolidating gradually
with a few market participants accounting for a significant market share. The
rising demand has triggered an intense competition among the market players,
with each player focusing on providing quality solutions. Prominent companies
are pursuing various strategies, such as strategic collaborations and long-term
agreements with established aerospace and defense OEMs and service providers as
part of the efforts to strengthen their foothold in the market. At the same
time, startups are gradually discovering the market potential and are keen on
leveraging the growing investor confidence to tap the opportunities presented
by the industry. Some of the prominent players in the military aerospace and
defense lifecycle management market include:
- Dassault Systèmes
- Siemens AG
- PTC
- Autodesk Inc.
Grand View Research has segmented the
global military aerospace and defense lifecycle management market by type and
region.
Military A&D
Lifecycle Management Type Outlook (Revenue, USD Million, 2016 - 2027)
- PLM
- SLM
Military A&D
Lifecycle Management Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Middle East & Africa (MEA)
- UAE
- KSA
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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More Information:www.grandviewresearch.com
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