Leading aerospace and defence firms, today, must adopt new technology, materials, and streamline their operations while continuing to innovate to meet the challenges of globalization, changing market forces and shrinking defence budgets. Therefore, constant evolution and keeping pace with an ever-changing world is the key.
The Aerospace and Defence industry today faces challenges not only from the global forces but also from within the industry with increased competition. The new and previously unexplored territories in the form of new economies offer a lucrative avenue for investment which the enterprises must grab to expand their operations and cash on ‘early-bird’ advantage. The key challenges that the industry is facing are follows:
"The defence budgets across the globe are shrinking, on the other hand, commercial aerospace is taking off with an expected record level of airplane production. These trends have forced enterprises to look for new avenues in the service and aftermarket space. At TESTQ, our constant endeavour is to ensure that our stakeholders have the platform that enables them to bring innovative ideas to market quickly and enables them to spot and grab every new opportunity."
