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Co-Founder and Director at HyFlux, and myMaskFit | MBA | BEng | 2024 Uplink World Economic Forum Top Innovator

#ICYMI 2024 Aerospace and Defense Industry Outlook from Deloitte The aerospace and defense (A&D) sector is at a critical juncture. Embracing new technologies and innovative strategies is essential to navigate upcoming challenges and seize growth opportunities. Here are the key takeaways: 1. Talent: The A&D industry is grappling with workforce challenges due to increasing salary expectations, higher employee mobility, & competitive job markets. Despite employment growth, talent shortages in key areas like engineering & manufacturing persist. Companies need to focus on strategic recruitment, flexible work arrangements, and workforce development programs to attract & retain skilled professionals. 2. Supply Chain: Global supply chain complexities continue to cause disruptions. To mitigate risks, A&D companies should diversify supply sources, maintain strategic reserves, and leverage digital solutions for enhanced visibility & transparency. Friendshoring & novel manufacturing technologies can offer long-term resilience. 3. Digital Transformation: Digitalisation is imperative for growth and efficiency. Adopting digital twins, AI, & advanced technologies can streamline operations, improve product development, and enhance maintenance protocols. Companies must modernise processes & tools to stay competitive and meet evolving demands. 4. New Product Introductions: Sustainability & technological innovation are driving new product development. Focus areas incl: - Environmentally Friendly Propulsion Systems: The push for reduced and zero-emission aviation is fostering the development of electric, hybrid, #hydrogen, & solar-powered technologies. Hydrogen, in particular, holds promise as a sustainable fuel alternative. H2 fuel cells & hydrogen combustion engines are being explored for their potential to significantly reduce emissions. Major investments are being made in hydrogen infrastructure & technology, as companies seek to pioneer hydrogen-powered aircraft. - Supersonic and Hypersonic Technologies: Efforts continue to develop supersonic aircraft with reduced sonic booms & hypersonic technologies for defense applications. - Advanced Air Mobility (#AAM): The AAM sector is advancing toward commercialisation, with a focus on electric propulsion for urban air mobility solutions. Manufacturers are preparing for scaled production and robust manufacturing capabilities. 5. Defense and Commercial Spending: Increased spending in both defense and commercial sectors is anticipated. Defense budgets are focused on innovation & readiness, while commercial investments are driven by recovering passenger demand and advancements in emerging markets like AAM & space. The future of A&D is shaped by adaptability, technological integration, and continuous improvement. Companies that leverage these areas will thrive in an evolving global landscape. #Aerospace #Defense #Innovation #DigitalTransformation #Sustainability #Hydrogen #TalentManagement #SupplyChain

2024 aerospace and defense industry outlook

2024 aerospace and defense industry outlook

www2.deloitte.com

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