Today, supplier-created parts and content represents 50%-60% of the value of an aerospace system. Relentless price pressures and the expected doubling of air traffic over the next 20 years are compelling Original Equipment Manufacturers (OEMs) and tier 1 suppliers to reinvent the way they work with the supply chain. The new model requires a closer partnership to improve visibility, on-time delivery and first-time quality.
Improved medical device design, testing, clinical diagnosis and regulatory science along with ”in-silico” design, a shift toward biologics, and outcomes-based health economics can help accelerate the best products to market, reducing the overall Life Sciences industry attrition rate.
Aerospace companies must integrate new technologies into ever increasing complex aircraft that can meet passenger demands, and operator cost and uptime targets. If not, they risk losing market share from more agile competitors.
To accommodate the ever increasing engagement of patients and practitioners in the healthcare ecosystem, the industry as a whole is looking to enable a shift to more predictive and adaptive manufacturing approaches. For the medical device segment this means ensuring more agile, more personalized devices, and for the pharma and biotech segments this means supporting large molecule bio therapeutics to deliver superior efficacy.
As Life Science companies look to leapfrog their competition by accelerating innovation, maximizing ROI, and creating new, connected patient experiences, we will see a significant growth in collaborative invention, and new models will emerge throughout manufacturing and value chain.