Aerospace

"Now we create a full work documentation package for all our customer orders at the click of a button. Earlier, this required multiple days' work for our administrative staff and was only done on the biggest orders."

Managing Director, Global Component MRO-Business

Key industry challenges

Dramatic reduction in passenger traffic

During COVID-19 the aerospace industry has experiences a significant reduction in passengers due to restrictions and travel regulations. According to the report "2021 aerospace and defense industry outlook" by Deloitte "passenger traffic may not return to prepandemic levels before 2024." (p. 3).

Increased focus on sustainability

The pressure on the aerospace industry to become more sustainable and reduce CO2 emissions was high even before COVID-19. According to PwC this is expected to intensify after the crisis. This calls for companies to experiment with new fuels and develop lower-consumption aircraft and engines.

Virtual meetings substitute international travel

Many of the companies that due to COVID-19 are being forced to hold meetings virtually instead of traveling across country boundaries to meet, might be expected to continue this practice for years to come, meaning less air travel for businesses.

Large scale digital transformations are rare

In the aerospace industry large scale digital transformation is rare, but the impact of investment in digital tools such as data analytics and artificial intelligence can improve performance and enhance decision making.

Source

2021 aerospace and defense industry outlook, Deloitte (PDF)

Aerospace trends 2020, PwC