I think an overall takeaway, the implication for our clients, and people across the aerospace and defense sector is that you need to recognize that the competitive landscape is going to continue to grow in intensity.”
Writing from the first day of the 2016 Farnborough Airshow, Aaron Mehta and Valerie Insinna of Defense News reported on the recent survey Avascent conducted that found that 87 percent of aerospace and defense executives think the competitive landscape will be more intense in the next twelve months thanks to increased competition from international firms. Defense News noted that one of the driving factors of the increased competition is the success Western defense firms have had in the last decade selling abroad, as well as technology and knowledge transfers as part of offset packages.
Jon Barney, Avascent Managing Director, is quoted discussing the survey findings, in addition to noting that key sources of competition to the U.S. include France, UK, Germany, Italy, Spain, Sweden, as well as China, Russia, Canada, and Japan: ” the overall implication of this we see is that companies need to understand that the global competitive landscape is not just about US and western Europe anymore. Competition is coming from a lot of different countries now, and it’s also being seen as becoming even more competitive from these markets in the coming years.”
To read the full article, click here: US Firms Observing Increased Global Competitiveness.
Read more about the 2016 Global Aerospace & Defense Competitiveness & Innovation Survey, including an infographic illustrating the results, here.