Aerospace suppliers globally are dealing with product development challenges, unlike anything they have seen before, including increasing cost pressures from OEMs, decreasing project timelines, and demanding industry regulations.
In this webinar you will learn how you can be better equipped to:
- create and reference a digital twin of your product
- optimize your design to meet customer requirements
- validate designs using virtual prototypes
A variety of pressures are driving change in aerospace and defense supply chains, including:
- Less Funding, More Competition: Funding for programs has continued to decline, resulting in fewer and smaller programs being awarded for development. To win business, contractors must bid more aggressively and commit to overly aggressive schedules or uncertain program requirements. This rolls down into the supply chain of Tier 2 and Tier 3 suppliers. Profitability is easily undercut by overspending, late delivery charges, or regulatory compliance penalties.
- Increasing Complexity: More than a decade ago, Tier 2 and 3 suppliers almost exclusively got contracts for parts. But today, OEMs are outsourcing big critical systems to prime and Tier 1 contractors. A good chunk of that complexity is making its way down to Tier 2 and 3 suppliers. These contracts demand a broader range of engineering skill sets (mechanical, electrical, electronic, systems) and more process complexity.
- More Regulatory Compliance: There is an increasing amount of regulations to which suppliers must comply. Not only do they have to design and make parts, assemblies, and systems that comply, but they have to prove they comply with documentation. This responsibility has teeth. Fail and the company is hit with costly penalties. Smaller companies often do not have a range of specialists that know such regulations, so they are at more risk than larger companies.