The Aerospace & Defense Industry Has Reason to Be Optimistic About 2020
Many of the challenges facing the aerospace & defense industry have been highlighted in the headlines in 2019. For example, earlier in the year, the DoD made the mistake of purchasing over $20 million in Chinese-made counterfeit goods such as specialized parkas designed to counter night vision goggles. In another example, OEMs and contractors such as Lockheed Martin have had publicized issues in receiving an adequate inventory of spare parts from suppliers following a dramatic demand for their F-35 Lightning II stealth fighter.
Despite these issues, however, as 2020 rapidly approaches, a new survey conducted by Military & Aerospace Electronics claims that the industry is overwhelming optimistic about its ability to adapt to change. According to the survey, 39.2 percent of readers are very optimistic about their abilities to adapt to changes, 26.5 are somewhat optimistic, and 18.6 are extremely optimistic, while 15.7 percent are slightly or not at all optimistic.
Additionally, the survey highlighted what military & aerospace OEMs are most looking for from their vendors and related partners. Responses included technology development and innovation, continued support and supply of legacy components, software development and support, trusted computing and cyber security support, manufacturing support, and obsolescence management.
These responses highlight the valuable role service providers such as Partstat are poised to play in 2020 and beyond. Partstat BOM Monitoring is the only tool in the electronics manufacturing industry proven to predict obsolescence and allocation before they occur using over 50 billion points of Big Data, which also powers the world’s largest free electronic components search engine.
And for OEMs who desire the latest innovations in electronic inventory storage, Partstat also offers customers the ability to store irreplaceable electronic inventory in the industry’s only custom storage vault designed specifically for electronic components and semiconductors, with raw die and wafer banking capabilities.
Innovation cannot just be compartmentalized into the technologies that create the OEM product. It should extend to every aspect of the manufacturing process, from purchasing, to storage, to the point of assembly. In order to meet the demands of the future, partners such as Partstat must be just as prepared as their customers, if not even more so, to meet any challenges progress brings.