LONDON--(BUSINESS WIRE)--Technavio’s latest global product lifecycle management (PLM) in aerospace and defense 2016-2020 report highlights the top three emerging trends predicted to impact market growth through 2020. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.
“Increasing demand for commercial aircrafts from the EMEA region will significantly drive the global PLM in aerospace and defense market until 2020. In the next 20 years, the demand for new commercial aircrafts is expected to be over 2,000 from the Middle East and over 7,000 from Europe. Africa also is expected to create a demand for nearly 1,000 airplanes in the next 20 years. This trend has increased the global demand for PLM in aerospace, and it is expected to boost manufacturing and design of new aircraft models,” said Amrita Choudhury, one of Technavio’s senior industry analysts for product lifecycle management research.
“An increase in technical capabilities of the aircraft is also anticipated to drive the digital manufacturing market in the aerospace and defense industry over the next four years. With progress in digital manufacturing, the market is expected to witness the introduction of highly fuel-efficient engines and significant reduction in weight of aircrafts during the forecast period,” added Amrita.
Technavio’s market research study identifies the following top three emerging trends for the global product lifecycle management (PLM) in aerospace and defense:
- Increasing integration among PLM software
- Role of PLM in IoT supporting devices
- Increased outsourcing of FEA pre-processing jobs to APAC
Increasing integration among PLM software
The global electronic design automation market for the aerospace and defense industry experienced a decline in 2015. However, from 2017, the market is expected to show an increase in growth rate. Complexity of electronics products has led to the demand for integrated software. For instance, Mentor Graphics has launched a new version of FloTHERM XT, which has executed both computational fluid dynamics (CFD) and electronic design automation (EDA) applications. FloTHERM XT has the added capabilities of CFD simulation and analysis as well as an electronics system and printed circuit board (PCB) thermal management. The adoption of such integrated software is predicted to increase significantly during the forecast period. The availability of two software packages at the cost of one is also anticipated to increase the demand for CFD and EDA integrated software solutions.
Role of PLM in IoT supporting devices
The global IoT market finds the adoption of PLM software such as EDA to develop smart connected devices in the aerospace and defense industry. The industry finds an increase in the successful implementation of sensors and computerized automations in their products and operations. IoT is the network of physical tangible objects, interconnected through technology with the ability to communicate among themselves, and the external environment.
IoT covers hardware devices, embedded software, communication services, and IT services into a single unit. The major components of IoT include, radio-frequency identification (RFID), wireless sensor networks (WSN), near field communication (NFC), cloud services, gateways, data storage and analytics, and visualization elements. IoT helps in efficient monitoring and management of numerous interconnected devices. With advancements of IoT, smart machines can monitor and control various objects using microcontrollers via the Internet from a distance. The global IoT market was valued at USD 196.32 billion in 2014, and it is expected to reach USD 778.43 billion by 2019, growing at a CAGR of close to 32%. In terms of usage, the global connected devices market was 3.32 billion units in 2014, and it is expected to reach 17.22 billion units by 2019.
With the global IoT market expected to show a CAGR of more than 30% in terms or revenue and usage, the adoption of PLM will witness an increase in demand for developing IoT supporting devices during the forecast period.
Increased outsourcing of FEA pre-processing jobs to APAC
The global FEA market is showing an increase in outsourced FEA pre-processing jobs to APAC. India and China are the hub of these outsourced jobs. In pre-processing, a finite element mesh is created, and complexities in mesh generation during the pre-processing phase of FEA analysis is one of the existing challenges faced by companies in this phase. It is also necessary for the mesh to imbibe an analytical ability to examine properties of the material and its boundary conditions to understand the real-time behavior of the material when subjected to specific stress and loads. Therefore, mesh generation plays a key role in understanding a structure’s behavior.
In developed countries, for linear static problems, FEA pre-processing costs about 43% of the overall investments. However, in countries such as India and China, the cost reduces by more than half. It is thus leading to an increase in outsourced FEA pre-processing jobs to the APAC region.
Browse related reports:
- Global FEA Market in the Aerospace and Defense Industry 2015-2019
- cPDM in the Aerospace and Defense: Global Market Research 2015-2019
- CAD Market in the Aerospace and Defense Industry in APAC 2015-2019
- Global DM in the Aerospace and Defense Sector: Market Research and Analysis 2015-2019
- CAD Market in the Aerospace and Defense Sector in North America 2015-2019
- Global CFD Market in Aerospace and Defense Industry 2015-2019
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