Global military aerospace and defense management market was valued at USD 7.4 Billion in 2019. It is projected to grow at an 8.4% compound annual growth rate (CAGR), between 2020 and 2027. Market growth is expected to be driven by the increasing demand from defense OEMs. This market will grow due to their need for innovative solutions that can help lower costs and improve product quality. Lifecycle Management solutions optimize every aspect of the product lifecycle, from conception to disposal. This improves throughput and quality. These solutions can be implemented by defense OEMs to enable cross-site workflows and remote operations. The growing demand for lifecycle management solutions from military aerospace and defense companies can be attributed to the evolving need for technologically-advanced solutions that can potentially streamline the core operations.
These solutions can be Internet of Things (IoT), Artificial Intelligence, (AI), or other automation solutions that are designed to manage critical tasks. These solutions are becoming more popular as they can be used to manage and disseminate information while increasing the efficiency of the equipment's lifecycle. The latest technology and reliable communication capabilities have enabled warfighting vehicles to evolve and include new features. The aerospace and defense industries have been rapidly evolving with the incorporation of cutting-edge technology that allows for faster, lighter and more connected tools. Military Aerospace and Defense OEMs have been aggressively adopting product management (PLM), solutions as part a mature technology strategy that they are following in managing the product/service lifecycle from conception to retirement. To print complex parts and components, OEMs use additive manufacturing. This is a cost-intensive and time-consuming process that can take a lot of effort and could result in costly and lengthy machining. As part of their efforts to meet the needs of end-customers, major lifecycle management solutions providers integrate additive engineering and advanced manufacturing capabilities into their offerings.
OEMs and Tier-1 suppliers increasingly demand highly customized solutions to address specific use-case issues. Lifecycle management solutions providers have adopted a customer-centric approach in order to meet the changing needs of their clients. Siemens is one of the most trusted lifecycle management solutions providers. They offer a wide range of technology solutions that can be tailored to meet the needs of small and large companies in the aerospace and defense industries. They focus on providing solutions that increase efficiency and lower total ownership costs. For more than a decade, prominent military and defense companies like Lockheed Martin and The Boeing Company have used PLM/SLM solutions to improve collaboration and workflow management.
The transition from traditional communication protocols to ethernet connections is occurring in defense applications. This can offer faster and more reliable connectivity options. The continued digitization, emergence of Industry 4.0, and connected value chain enable solution providers to offer advanced capabilities through the incorporation of emerging technologies, particularly for military aerospace companies and defense companies. AR/VR, IoT and big data analytics are all expected to play an important role in shaping operations within the aerospace and defense industries, as well as after-sales and maintenance services. These digital transformation technologies will improve the efficiency and intelligence in service, design, testing, production, and maintenance processes. These technologies' ability to solve product complexity and streamline product lifecycles is expected to open up huge opportunities for lifecycle management solutions.
In 2019, the PLM segment was the most profitable and will continue to dominate the market for military aerospace and defense-lifecycle management over the forecast period. PLM solutions give precise information about sub-systems and individual systems to OEMs and Tier-1 suppliers. They also update them with the necessary specifications for the most recent versions. This solution allows users to communicate, collaborate and define how designs will perform, so designs can be optimized before being implemented. Companies are increasingly using PLM solutions that integrate planning and execution capabilities to improve equipment longevity, get compliance certifications and establish closer relationships with regional aviation and defense authorities.
SLM solutions will experience the fastest CAGR at 9.9% during the forecast period. SLM solutions provide timely updates to field service teams in order to ensure the efficient functioning of defense products/equipment such as aircraft, battle tank, and submarines. These solutions can manage service parts management, field support operations, technical documentation, and product support operations. This will maximize equipment uptime. Leading solution providers offer SLM solutions that include BI capabilities. This allows them to monitor and track opportunities for proactive custom solutions, as well as strike service agreements based on the level of product usage.
North America was the region with the highest revenue share in 2019. It is expected to grow at 6.2% during the forecast period. Due to its aggressive investments in improving its defense capabilities, the U.S. is the largest regional market. The U.S. spends a lot on defense, with a large portion of it going to maintenance and other service activities. The U.S. has played a dominant role for decades in all defense categories, including land, air and sea. They have made huge investments in developing advanced solutions across all of these areas.
Asia Pacific will experience the fastest CAGR at 10.6% between 2020 and 2027. By 2027, the regional market will surpass North America by USD 5 billion. Large-scale companies in the region are choosing advanced lifecycle management tools to improve their product development and process engineering. Due to ongoing developments in defense infrastructure and the expansion of the aerospace/defense industry in countries like China and India, the authorities are compelled to invest in automation and information technology to contribute significantly to the growing demand.
With a small number of market players accounting for significant market shares, the market is slowly consolidating. There is intense competition between market players due to the rising demand. Each player must focus on quality solutions. As part of their efforts to increase market share, prominent companies are looking at various strategies such as long-term agreements and strategic collaborations with established aerospace and defense OEMs as well as service providers. Startups are also beginning to see the potential of the market and want to capitalize on the increasing investor confidence to take advantage of the opportunities. The following are some of the most prominent players in the market for military aerospace and defense-lifecycle management:
Dassault Systemes
Siemens AG
PTC
Autodesk Inc.
Up Market Research published a new report titled “Military Aerospace & Defense Lifecycle Management Market research report which is segmented by Service Lifecycle Management (SLM), by Type (Product Lifecycle Management (Product Lifecycle Management PLM), By Players/Companies Dassault Syst¨mes, Autodesk Inc, PTC, Siemens AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Military Aerospace & Defense Lifecycle Management Market Research Report |
By Service Lifecycle Management | SLM |
By Type (Product Lifecycle Management | Product Lifecycle Management PLM |
By Companies | Dassault Syst¨mes, Autodesk Inc, PTC, Siemens AG |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 245 |
Number of Tables & Figures | 172 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Service Lifecycle Management (SLM), by Type (Product Lifecycle Management (Product Lifecycle Management PLM).
Military Aerospace & Defense Lifecycle Management Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Military Aerospace & Defense Lifecycle Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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