Market Snapshot:
Aerospace and defense software is designed for manufacturing organizations, military operators, independent MROs, and fleet operators to perform various tasks. Digital transformation in the A&D industry helps organizations with smooth integrated process and business operations. The software helps manufacturers to manage inventory, supply chain, sales, and other business functions to boost the process and execute programs on time at a low cost and survive in the relentless competition. The companies also offer business services to the A&D manufacturers and service providers such as service parts management, predictive maintenance, and fleet management services.
Highlights from Aerospace & Defense Business Software and Services Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Players profiled in the report are SAP (Germany), HCL Technologies (India), IFS (Sweden), IBM (United States), Accenture (Ireland), Wipro (India), DXC Technology (United States), Infor (United States), DXC Technology (United States), NI (United States), QuEST Global (Singapore), MSC Software (United States), Dassault Systèmes (France) and EDGE Group (United Arab Emirates).
Geographic Breakdown and Segment Analysis
The Global Aerospace & Defense Business Software and Services market presents a comprehensive analysis of the Aerospace & Defense Business Software and Services market by end-user/application (Supply Chain Management, Inventory Management, Fleet Management and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Aerospace & Defense Business Software and Services industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Aerospace & Defense Business Software and Services market
Analyst at AMA have segmented the market study of Global Aerospace & Defense Business Software and Services market by Type, Application and Region.
Influencing Trend:
Focus on Research & Development of Modern Techniques and Innovative Technologies and Use of AI and Machine Learning in the Software
Market Growth Drivers:
Rapid Adoption of Advanced Technologies to Reduce Operational Cost and Digital Transformation and Government Spending in the Defense Sector and Increasing Demand from Aerospace & Defense Manufacturers
Challenges:
Increasing Need to Provide More Value-Based Services to Demanding Customers and Manufacturing According To Government Regulations
Restraints:
Growing Security Concerns Due to Increasing Cyberattacks in the Aerospace and Defense Industry
Opportunities:
Increased Demand for Cloud-based Solutions by Users
Market Developments Activities:
In February 2021, EDGE Group signed a contract with SAP to accelerate the digital transformation. With this collaboration, the company will streamline its business processes and gain complete visibility and transparency. With SAP’s digital platform, Edge Group will leverage the power of data using AI, machine learning, and RPA across its operation and become an intelligent enterprise to set a new global benchmark in its field.
In January 2023, Lockheed Martin Corporation and SAP SE announced an expansion of their strategic relationship to transform mission-critical business systems supporting Lockheed Martin's OneLM innovation program. 1LMX is an industry-leading business and digital transformation effort that enhances Lockheed Martin's speed, agility, insight, and competitiveness.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Aerospace & Defense Business Software and Services Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others