The commercial aerospace outlook keeps growing: The overall 2019 market is expected to grow at a healthy 5.4% annual growth rate, up from 4.5% in 2018. North America, Europe, the Middle East, and Latin America are expected to witness growth this year, while Asia Pacific will exhibit slower growth but expected to recover strongly by 2020.
A&D embrace AI: Artificial intelligence (AI) is disrupting the aerospace and defense (A&D) industry in its ability to augment advanced safety features in aircraft, enable the workforce to offload repetitive tasks, and enhance real-time responses to customer issues and complaints. One-third of aerospace and defense executives ranked AI as technology that will have the greatest impact on their organization over the next three years, according to the recent Accenture Technology Vision 2019 report for the A&D industry. Two-thirds of A&D companies have adopted AI within at least one business unit or are piloting the technology.
Workforce worries: Generational issues are one, with more baby boomers working in the sector than any other industry with an impending retirement cliff looming. Significant competition with other industries to fill A&D jobs comes from Silicon Valley.
Digitalization: According to Accenture’s recent report “Rethink Reinvent, Realize: Scaling digital innovation,” only 19% of A&D companies achieved a return on their digital investments that exceeded expectations. Nearly all A&D executives (90%) also say the inability to combine the power of humans and machines is a key challenge to building and scaling their digital capabilities.
Additionally, Accenture plans to showcase the following at the Paris Air Show with onsite demos:
Immersive training: Virtual and augmented reality can improve one’s training experience, and this simulation shows how the technology works for assembling aircraft panels and harnesses. An immersive learning environment through AR and VR can upskill a workforce faster, while reducing costs.
Smart manufacturing: On the shop floor, connected devices benefit manufacturing operations by providing real-time information to workers, such as assembly instructions, detecting non-conformity errors and related actions to correct them Automatic data recording throughout the manufacturing cycle can reduce risk and costs from non-conformity errors.
Smart supply chain: Having a full view of all suppliers and items in a supply chain is critical for productivity and execution in manufacturing. Accenture’s Supply Chain Control Tower solution takes real-time insights to shift the supply chain from a method of just fulfilling orders to a vehicle for sensing and shaping demand and expand its capabilities from simply minimizing costs to also driving the top line.
Engineering data digitization: Accenture’s Engineering Data Digitization (EDD) is an AI-powered solution for digitizing complex engineering documents. The solution scans engineering documents and uses advanced machine learning for optical character recognition (OCR) of engineering symbols, drawings, and words. The result is dramatically reduced pricing per digitized engineering document and faster digitization of engineering documents.