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Global Spending On Defence Declines As Governments Allocate Funds To Reactivate The Economy

Global Spending on Defence Declines as Governments Allocate Funds to Reactivate the Economy

Frost & Sullivan has released a report that presents the impact of global spending on defence under three scenarios—gradual containment, severe pandemic, and global emergency. As governments around the world allocate funds to contain the COVID-19 pandemic and reactivate the economy, under the severe pandemic scenario, defence spending will stagnate at current levels for the short term (2020-2021). In the global emergency scenario, defence spending will reduce, though this will mainly depend on global and regional political conditions. But, in the long term, it will be cut by at least 10%, as witnessed in the past.

“The decline in GDP and the increase of budget deficits would have an impact on defence spending, but the effect would be lower than other industries,” said Alexander Clark, Aerospace & Defence Research Analyst at Frost & Sullivan. “Additionally, governments across the world will promote investments for national security and as potential investments for export revenue.”

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Clark added, “With increasing geopolitical tensions, the regional defence spending ratio will remain unaffected as the underlying political factors continue to remain constant. Further, the United States, Asia and Europe, respectively, will remain the biggest consumers of defence products.”

Despite this, defence market participants are likely to increase revenue realisation from a services portfolio by redesigning their strategies and customer engagement models, including:

  • Mergers and acquisitions: Identify businesses/SMEs whose acquisition/partnership would diversify and strengthen the existing portfolio.
  • Vertical integration: Focus on offering aftermarket services such as simulator training, PBL contracts, spare parts or maintenance, repair, and operating (MRO).
  • Robotics and artificial intelligence: Develop and upgrade products that serve military-medical, commercial-security, containment, and logistics purposes.
  • Chemical, biological, radiological and nuclear defence (CBRN): Strategic acquisitions or diversification of product portfolio should include CBRN protective clothing and equipment.

 

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Stringent Emission Norms Fuelling Growth Of Global EV Sales

Stringent Emission Norms Fuelling Growth Of Global EV Sales

The COVID-19 uncertainty will globally dent electric vehicle (EV) sales, which are estimated to stand somewhere between ±9 percent in 2020 compared to 2019 under three different scenarios—gradual containment, severe pandemic, and global emergency—according to a new report by Frost & Sullivan. But as the market recovers, which is probably after June in the best-case prospect, it is predicted to experience healthy growth. In an optimistic scenario, EVs are estimated to grow by 8.6 percent year-on-year (YoY), registering 2.5 million unit sales (battery electric vehicles plus plug-in hybrid electric vehicles) globally in 2020.

“EV sales will be driven by the implementation of stringent emission norms across countries and global policies favouring the adoption of battery electric vehicles (BEVs),” said Prajyot Sathe, Automotive and Transportation Industry Manager at Frost & Sullivan. “Additionally, non-monetary or tax incentives are likely to be more attractive for buyers as countries with the highest EV penetration ratio such as Norway and the Netherlands offer these rather than cash incentives.”

According to Sathe, if BEVs are pushed by original equipment manufacturers (OEMs) on new energy vehicle (NEV) credit mandates, China is set to remain the market leader with a 48.3 percent share. Europe, on the other hand, is expected to have the highest YoY growth of over 10%, mainly driven by availability of models, reduced delivery times and compliance push.

READ: COVID-19 Updates: Auto Makers Revving Up Production To Drive Market Recovery

READ: Thailand To Lead In EV Battery Manufacturing And Assembly

To tap into the growth prospects exposed by EV, market participants should focus on the following:

  • The introduction of new models will help OEMs increase the percent penetration of EVs.
  • A huge number of recyclers and dismantlers will come into play as the first phase of batteries will be available for second life or recycling.
  • Charging as a service is an emerging trend. Hence, partnerships will be necessary for traditional participants to compete with start-ups.
  • Capitalising on existing expertise will help component manufacturers sustain the transformation of the industry.

 

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5G Integration In IIoT Systems Accelerates Industry 4.0 In The Wake Of Pandemic

5G Integration In IIoT Systems Accelerates Industry 4.0 In The Wake Of Pandemic

The integration of 5G in Industrial Internet of Things (IIoT) systems will accelerate the realization of Industry 4.0 with high-speed, low-latency, and large-volume data transfer. This, according to latest research from market analyst Frost & Sullivan. In its report, Frost said while the application of 5G-enabled IIoT is currently limited to quality inspections, supply chain management, and generic machine control, key system manufacturers are actively exploring other areas in industrial operations where the benefits of 5G connectivity can be leveraged for process optimization and increased automation.

“Incorporating 5G in IIoT devices will enable low latency, increase data throughput, and reduce operation time, thus leading to improved overall process productivity,” said Mogana Tashiani, Frost & Sullivan Technical Insights Research Analyst. “Apart from enhancing the automation of industrial operations and control, 5G-enabled IIoT devices can also minimize the complexity of supply chain networks and warehouse management, helping businesses to efficiently operate in dynamic business environments.

“5G will play a key role in ensuring the sustainability of businesses in the wake of the COVID-19 pandemic. The low latency will aid in managing the high traffic to e-commerce by improving network accessibility at a faster pace, accelerating online purchases and order placements. Furthermore, 5G-integrated IIoT devices have the potential to disrupt traditional on-site job functions through remote working and virtual meetings. COVID-19 has led to a massive shift to remote working to maintain business operations on par with on-site job operations.”

The automotive manufacturing industry is one of the key sectors that can leverage the growth opportunities from 5G’s integration into IIoT. 5G facilitates data transfer among AI algorithms, sensors, and mechanical parts to navigate self-driving or autonomous vehicles.

In addition, 5G-enabled vehicles establish a connected system in which real-time data transferring and receiving can be achieved conveniently and effectively. Apart from vehicle-to-vehicle communication, interaction with traffic system is possible with 5G technology, which enables data transmission beforehand to achieve practical navigation for certain road conditions.

 

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Frost & Sullivan: Digital Retailing And Vehicle Leasing To Propel Automotive Recovery Path

Frost & Sullivan: Digital Retailing And Vehicle Leasing To Propel Automotive Recovery Path

Frost & Sullivan’s recent analysis, COVID-19 Growth Impact Assessment for the Automotive Industry, 2020, presents the impact of the pandemic on the automotive sector under three scenarios—gradual containment, severe pandemic, and global emergency—resulting in outcomes ranging from steady recovery to recession. Under the severe pandemic scenario, original equipment manufacturers (OEMs) will try to capitalise on China’s early recovery from the pandemic, while overall economic relief measures in the U.S., Germany, France, and the U.K. will provide the necessary boost to the market in the post-recovery period.

“Major Asian vehicle manufacturing countries such as China, Japan, and South Korea, which accounted for 40 percent of global vehicle production in 2019, are on the recovery curve. The other two major automotive manufacturing powerhouses, the U.S. and Germany, are expected to resume production partially by mid-June,” said Vigneshwaran Ramesh, Automotive & Transportation Senior Research Analyst at Frost & Sullivan.

“Additionally, risk mitigation strategies such as offering financial flexibility and support to the entire ecosystem, including to dealers, suppliers and customers, will help OEMs of the world to revive.”

Vignesh added: “The impact of the pandemic on the automotive sector will unlock new opportunities for other mobility verticals such as electric vehicles (EV), vehicle leasing, and connectivity solutions. EV sales will experience a medium impact as China will revive fastest from the pandemic with manufacturing plants returning to normal. Further, new vehicle leasing for the corporate segment is expected to sustain moderate growth, owing to the demand for greater flexibility and short-term contracts, whereas OEMs will emphasise connectivity services to enhance their revenue stream.”

To tap into opportunities in this COVID-19 recovery era, consider the following growth prospects:

  • OEMs and dealers should focus on digital retailing and empower customers on their online journeys.
  • With the rise of eCommerce, light commercial vehicle (LCV) leasing and rental solutions are gaining traction, especially during the pandemic.
  • With increasing epidemic outbreaks (SARS, MERS, and COVID), OEMs can ramp up connectivity services, emphasising the need for health, wellness and wellbeing services within the vehicle.
  • Contactless and touchless business concepts will leverage aftermarket opportunities, helping on-demand service models gain further momentum.

 

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Top 21 Global Risks That Threaten The Next Decade

Top 21 Global Risks that Threaten the Next Decade

Frost & Sullivan has released a report providing a compelling analysis that will help stakeholders understand the impact of future risks through the short, medium and long terms, and equip them to act on clear growth opportunities. The study, Global Future Risks—Future-proofing Your Strategies, 2030, presents over 80 growth opportunities arising from 21 risks, which will help policymakers, businesses and individuals take immediate tactical and strategic actions and draw plans to lower impact.

Unpreparedness to address these challenges, which are looming across the globe, will adversely impact businesses, societies, economies, cultures, and personal lives.

“Risks are now increasingly interconnected, which, if amplified, can trigger a ripple effect across industries, regions, and diverse stakeholder groups. Therefore, mitigating them will involve measures to quantify relevant risks, estimate the probability of occurrence and the adoption of a cohesive, interdisciplinary, and multipronged approach,” said Murali Krishnan, Visionary Innovation Group Senior Industry Analyst at Frost & Sullivan.

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Krishnan added, “With an estimated 200 billion connected devices by 2030, the risk of sophisticated cyberattacks will escalate. Therefore, companies should invest in future-casting tools that help identify the impact of such risks to their business, thereby detecting vulnerabilities and avoiding disruptions.”

“Over 40 million Americans are at risk of flooding from rivers, nearly 300,000 have lost their lives to the COVID pandemic, and close to $1 billion in costs will be borne annually by economies as they become victims to cyberattacks. The stakes are high, claiming both lives and resources. Businesses must look to invest in early warning systems that help future-proof them against the known and the unknown. Understanding risks and its levers can become a growth opportunity if used as a tool to create value,” noted Archana Vidyasekar, Visionary Innovation Group Research Director at Frost & Sullivan.

To tap into growth opportunities emerging from the short-, mid- and long-term risks, organisations can focus on the following areas:

Short-term risks

  • Privacy and disinformation risks: Organisations must adopt a “privacy-by-design” approach, which goes beyond accepted privacy standards and assumes global regulatory compliance.
  • Rise of infectious diseases:Advanced technologies such as next-generation sequencing (NGS) and CRISPR-based diagnostics will enable new approaches in the treatment of infectious diseases.
  • Water crisis:Innovation in agricultural practices such as vertical farming and optimised crop selection can play an important role in reducing the ongoing water crisis.

Mid-term risks

  • Urbanisation: Urbanisation stress will trigger the demand for smart solutions such as intelligent grid control and electrification, smart buildings, and smart storage solutions.
  • Climate change risks: Organisations will emphasise investments in buildings with net-zero energy consumption, and greenhouse gas emissions will increase minimally.

Long-term risks

  • Artificial intelligence (AI) as a threat: AI can be a strong reason for the polarisation of jobs across the world, but investing in collaborative computational capabilities can help allocate an ideal division of tasks between humans and robots based on their distinct capabilities and deployment costs.
  • National identity crisis:Great business opportunities exist in providing digital authentication of eGovernment services such as digitisation of birth, marriage, and death certificates, passports, and driving licenses.

 

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APAC: Demand For Machine Tools On The Upswing As Manufacturers Invest In New Production Facilities

APAC: Demand For Machine Tools On The Upswing As Manufacturers Invest In New Production Facilities

The growing purchasing power of middle-class consumers in Asia has led to an increase in spending on consumer goods. In a rush to meet the escalating demand, manufacturers catering to the APAC region are investing in new production plants and machines, creating a requirement for machine tools in the process. An analysis by Frost & Sullivan reveals that this requirement will push the Asia-Pacific machine tool market to grow at a CAGR of 2.2 percent from 2018 to 2023, reaching $10.5 billion in revenue.

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Frost & Sullivan’s latest research, Asia-Pacific Machine Tool Market, Forecast to 2023, explores the trends and factors influencing the machine tools industry in the Asia-Pacific region and provides a thorough analysis of the current market scenario. The report examines the key market drivers and restraints and presents detailed market share analyses and revenue forecasts through the year 2023. The research also offers strategic recommendations to leverage the growth opportunities identified in this sector.“Business expansion strategies and plant localisation of end-user industries are set to drive the growth of the machine tool industry in the APAC region,” said Divya Saiprasad, Principal Consultant, Industrials at Frost & Sullivan.  “The rise in demand for machine tools can be attributed to the increase in the production of auto components and growth of the automotive industry.”

Japan, South Korea, and Taiwan are expected to remain the top three markets for machine tools in the region in 2023, contributing 69.5 percent. Additionally, emerging economies such as Vietnam, Indonesia, and Thailand are anticipated to showcase strong growth over the next three years, driven by foreign direct investment (FDI) inflow in the manufacturing sector.

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“On the end-user vertical front, engineering and automotive sectors are projected to remain dominant,” noted Saiprasad. “The aviation sector is also expected to further supplement the market for machine tools, given the demand from the burgeoning upper-middle-class population.”

Machine tool vendors can tap into further growth by:

  • Integrating new features and technologies into additive manufacturing to increase the overall efficiency of multi-tasking machine tools.
  • Including new technologies such as IoT and Big Data for preventive and predictive maintenance of machines to help machine tool companies enhance their customers’ rate of operations in manufacturing, thereby increasing their brand recognition in the market.
  • Developing and selling smart machines equipped with AI, robots, and software technologies to expand sales and improve the productivity of customers in ASEAN countries.
  • Increasing production efficiency, shortening delivery times, and maintaining price competitiveness to increase sales and improve market profitability.
  • Expanding sales, distribution, and aftermarket service channels in emerging Asian countries to retain customers.

 

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Frost & Sullivan Names Top Innovators In The Global Commercial Aircraft MRO Market

Frost & Sullivan Names Top Innovators In The Global Commercial Aircraft MRO Market

Frost & Sullivan reveals that the maintenance, repair, and overhaul (MRO) market experienced substantial growth in line with global fleet expansion. As the market worth $75 billion continues to increase for aircraft maintenance, MROs are adjusting capacity to meet the surging demand through the adoption of digital transformation, technology innovation, and unrivaled efficiencies as well as mergers, consolidations, buy-outs and alliances. Airlines are spinning their maintenance divisions off into separate MRO entities to produce fresh revenue streams as OEMs jockey for additional market share.

The recently released Commercial Aircraft Maintenance, Repair, and Overhaul Market Frost Radar provides results from an in-depth analysis built on a 360-degree research methodology where over 100 companies in the MRO industry were evaluated. The team of industry analysts identified 17 industry leaders excelling at innovation, poised for growth and ripe for investment, and recognises them in the Frost Radar with insight into their innovative offerings, projected growth rates, strengths and opportunities for the future.

The following companies were identified for demonstrated excellence in either growth, innovation, or both, with the ability to translate these qualities into proven solutions that benefit their clients: AAR Corp, Aeroman, AFI KLM E&M, Aviation Technical Services, Etihad Airways Engineering, Evergreen Aviation Technologies Corp. (EGAT), Flightstar, GAMECO, GMF AeroAsia, HAECO, Lufthansa Technik, Mexicana MRO, Sabena Technics, SR Technics, ST Engineering, TAP M&E, and Turkish Technic.

 

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PLM To Revolutionize Complex Processes Of Discrete Industries

PLM To Revolutionize Complex Processes Of Discrete Industries

Industrial Internet of Things (IIoT) in discrete manufacturing is transforming the entire manufacturing value chain, with manufacturers leveraging digital technologies, including product lifecycle management (PLM) solutions, to streamline their production planning. The higher demand for advanced PLM solutions and the proliferation of technologies and their applications within shop floor processes are expected to drive the $2.05 billion market toward $3.09 billion by 2022, at a compound annual growth rate (CAGR) of 8.5 percent.

“Manufacturers are actively looking to incorporate advanced technologies such as Big Data Analytics and 3D printing in their production and assembly line,” said Karthik Sundaram, programme manager, Industrial Automation & Process Control, at Frost & Sullivan. “Furthermore, rising customer demand for reduced time to market and mass customisation are prompting vendors to accelerate their manufacturing capabilities through system engineering and configuration management.”

“The US manufacturing industry, especially automotive, is an enthusiastic adopter of advanced technologies such as Artificial Intelligence and Digital Twin,” noted Sundaram. “Meanwhile, Asia-Pacific is positioning itself as a digital manufacturing hub on the strength of rapid urbanisation, industrialisation, and the economy’s shift to value-added manufacturing. Countries like Singapore, Japan, Thailand, and Hong Kong are especially exhibiting high industrial growth.”

PLM vendors are adopting various strategies for incorporating digital manufacturing products to remain competitive. Successful solutions providers will look to make the most of the growth opportunities offered by:

  • Partnering with companies providing digital solutions and collaborating with government agencies to unlock opportunities within discrete manufacturing.
  • Altering traditional pricing models so industrial manufacturers can penetrate niche markets.
  • Complying with regulatory standards to leverage disruptive technologies and adopting new business models that improve efficiency and factory performance.
  • Upgrading their technical capabilities to improve customer retention and foster long-term customer engagements.

 

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Renewed Competition Between Airbus And Boeing To Fuel Commercial Aircraft Production Growth In 2019

Renewed Competition Between Airbus And Boeing To Fuel Commercial Aircraft Production Growth In 2019

The revival of competition between Boeing and Airbus is expected to result in record delivery of the highly popular narrow-body platforms and a 9.4 percent year-on-year growth in the global commercial aircraft production in 2019. Boeing and Airbus will produce more than 1,750 aircraft this year, up from 1,606 units in 2018, and propel the market towards $258.95 billion, according to a new report from market analyst Frost & Sullivan.

Boeing will receive a boost once it finalises its deal for Embraer’s airliner business in 2019 to counter Airbus’s acquisition of Bombardier’s C Series programme; it will continue to develop its new mid-market aircraft (NMA) platform and position itself for growth in next-generation markets.

“Aircraft OEMs and suppliers will continue to focus on digitalisation of platforms for streamlining flight operations, planning and scheduling, sales and distribution, marketing, disruption management, and technical operations,” said Timothy Kuder, research analyst, Aerospace & Defence, at Frost & Sullivan. “Top aerospace companies as well as entrants are investing in R&D centred on electrical propulsion, generation, distribution, storage, and conversion.”

Kruder said Asia-Pacific will experience the highest growth in terms of aircraft deliveries and will sustain this position in the future. However, North America and Europe will continue to be the largest suppliers of aircraft. “In terms of technologies, advanced composite materials, additive manufacturing, and electrification will disrupt the design and construction of platforms, while digitalisation of aviation has already evolved into a $1.5 billion business,” he said.

For additional growth opportunities, aircraft suppliers and MRO facilities are expected to look to adopt digital technologies like blockchain, which can contribute to the mandated traceability requirements of many aerospace digital services; develop technologies such as fibre metal laminate (FML); seek opportunities to be vertically integrated with suppliers and OEM; and prepare for the servicing of next-generation airframes and engines.

 

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Smart Manufacturing, Digital Continuity To Provide More Visibility In Factories Of The Future

Smart Manufacturing, Digital Continuity To Provide More Visibility In Factories Of The Future

The Smart Manufacturing, Digital Continuity To Provide More Visibility In Factories Of The Future disruption in manufacturing value networks caused by the convergence of sensing, simulation, algorithms, cloud, and analytics is spawning new business models. Linear forms of manufacturing are giving way to circular and bi-directional models, which is resulting in a connected and an information-driven manufacturing ecosystem.

Meanwhile, technological advancements such as Industrial Internet of Things (IIoT), digital twins, and cyber-physical production systems are shifting manufacturers’ focus from siloed assets to digital platform solution offerings. They are increasingly combining physical functioning manufacturing with virtual planning and simulation to create new customer experiences.

“Data will be the new value-multiplier for the factory. Factory owners will strive to network various aspects of a plant (such as tools, assets, material, people, process, and services) on one digital platform. The level of integration and collaboration will offer customers unprecedented information visibility and subsequently generate value from domains that were generative before,” explained Mariano Kimbara, Industrial Group Senior Industry Analyst at Frost & Sullivan. “The digital continuity and intuitive customer experience will help customers drive smarter workflow collaboration, process optimization, and improved operational efficiencies. This will mark the beginning of an era of the collaborative manufacturing landscape.”

To make the most of the growth opportunities in the market, manufacturers need to transform their internal practices to support a collaborative manufacturing landscape, digital supply chain, changing business models, and workforce of the future. In a newly released thought leadership paper, titled Inspiring Manufacturing Transformation in the Digital Era, Frost & Sullivan notes that manufacturers can achieve the future state by adopting innovative collaborative processes and architectural transformations to achieve superior integrated business operations; shifting to digital, connected, and end-to-end manufacturing value networks; having a digital continuity platform approach to manufacturing smarter products to break down silos and foster collaboration, from design to service; fostering collaborative relationships instead of traditional vendor/customer models, while creating new channels for flexible and on-demand services; and embracing technologies such as 3D printing, artificial intelligence (AI), big data, augmented/virtual reality, and edge computing.

 

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