Aerospace and defense companies are going through disruptive changes and overwhelming, competing challenges as they continue to navigate the impacts of the COVID-19 pandemic. We believe this points to a singular conclusion - digital transformation.
Aerospace and defense executives acknowledge this and anticipate more than a two-fold increase in the sale of new digital services over the next five years. Failing to act could have harmful repercussions. Over 80% fear substantial cost escalations alongside losing significant market share if they fail to overcome organizational challenges for digital reinvention.
Companies that successfully embrace digital at the core of their businesses achieve up to four times improvement on their digital investments than other industry players, and are successfully scaling more than 50% of their digital proofs-of-concept.
We have a three-point approach for businesses to map their digital future, helping them build resilience and unleash growth.
Combining sophisticated econometric modeling methodologies to drive quantitative quarterly forecasts on the health of the commercial aviation market, with insights from leading aerospace executives worldwide, the Accenture Commercial Aerospace Insight Report provides a unique perspective on short- and medium-term trends and drivers in this market, covering a wide range of activities, from suppliers to MROs. Our poll was conducted in February 2023 and views are subject to considerable change as conditions can rapidly evolve.