Insights reveal the COVID-19 pandemic has not grounded global industry growth
Research from Cambashi, a global leader in research, consulting, and training for engineering and industrial software markets, reveals that, despite the effects of the global COVID-19 pandemic on the airline industry, aerospace manufacturing is still flying high.
Research for Cambashi’s Insights industry training courses, combined with data from the company’s software and employment Observatories, shows that the aerospace manufacturing industry has stood up well through the COVID-19 pandemic and is already returning to pre-pandemic levels, or better.
“This is partly due to the defence sector, which has been relatively unaffected and partly because of the space industry, which is a thriving sub-set,” explained Alan Griffiths, Lead Analyst at Cambashi. “Both areas have advanced products with complex supply chains that require sophisticated design, engineering and manufacturing software.”
Software plays a major role in the aerospace industry as it is essential to design, simulation, production, supply chain and maintenance activities. Alan Griffiths added: “Although the aerospace software market growth in most countries dipped in 2020 due to COVID-19 effects, we forecast it to recover to pre-pandemic levels or higher in 2022 and then continue growing with a CAGR of nearly 13% from 2021 to 2025”.
The range of engineering software used in aerospace manufacturing includes:
• CAD for design
• CAM for manufacturing planning
• PLM to manage the product lifecycle
• ERP to manage the production/planning and financial processes
• SCM (Supply Chain Management) to manage the supply chain, and
• Service Management software to manage service and maintenance
• Industrial IoT software for connected applications.
“Engineering software applications typically outperform the underlying economy of the industries they serve,” explained Alan Griffiths. “When looking at the ratio of technical software spend to Value Added, there has been a steady increase over the past 10 years in the aerospace industry. This shows the importance of engineering and technical software in driving advancements and efficiency gains in the industry.”
For more detail and analyst insights on this market, a complimentary white paper on Aerospace Manufacturing and software can be downloaded here.
Barry Monk, Next Communications
+44 (0) 7811 336 943 Anastasia Prokhorova, Cambashi
Cambashi is a global market research, industry analysis, consulting and training company, focused on engineering and industrial software markets (IoT, BIM, PLM, CAD/CAM/CAE). For over 35 years the company has provided in-depth market intelligence and analysis, based on comprehensive, multi-perspective datasets. The Cambashi Observatories help organisations establish market potential for the various engineering software segments in defined industry sectors and territories.
Cambashi develops training content using its extensive knowledge of the manufacturing industries and tactical industry intelligence, which covers market forecast, business drivers, and challenges. This is especially beneficial for sales and business development specialists, new starters and mid-level staff looking to gain credibility and confidence so they can engage with buyers and marketeers looking to develop relevant content.
Follow the link to Cambashi Industry Insights for more industry research, latest trends and challenges, business opportunities and drivers, products and services, industry news and key issues within the Aerospace, Automotive, Chemicals, High Tech, Machinery, Oil & Gas and Utilities industries.