Companies focused on grand challenges - cyber protection, speed, cost of platform development and urban air mobility
NEW YORK, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Aerospace & Defense companies and Engineering Universities are investing $19.5 billion in innovation research as they grapple with an increasingly competitive environment focused on fast tracking work in hypersonics, urban air mobility and sensing, finds the Technology Innovation study, jointly produced by Aviation Week Network and KPMG. The study highlights the aerospace and defense industry's technological innovation capacity.
To learn more about the study see the October 28, 2019 print and digital edition of Aviation Week & Space Technology or go to AviationWeek.com.
Additional key findings:
- Investment growing fastest among companies with less than $1 billion in revenues
- Key areas of investment included artificial intelligence and autonomy, materials, power and propulsion
- 48 accredited engineering universities report R&D spending of just over $1 billion, with University of Michigan recording the highest value R&D spend and Georgia Institute of Technology having the highest per-student R&D investment
According to Greg Hamilton, President, Aviation Week Network, “Our Technology Innovation study delivers critical data regarding the level of research and development funding at universities and within corporations, as well as attributes that reflect expectations around innovation, from the boardroom to potential employees.”
The Technology Innovation study also evaluated the unique facilities, expertise and capabilities of accredited university engineering and technology programs. “This is a guide for companies as they determine where to partner on significant R&D work,” Hamilton said. “But it also is a guide to students as they search for a university with established research from which they can benefit.”
“The pace of innovation is extraordinary and is healthy,” said Jim Adams, KPMG’s National Leader for the Aerospace and Defense Industry. “What Aerospace and Defense leaders are grappling with is the speed at which they turn innovation into new products.”
The study indicated that the grand challenges for the industry include cyber protection of platforms, speed and cost of platform development, urban air mobility, and sustainable aviation.
“Despite angst about the state of innovation, we found significant current momentum in several key technologies,” said Graham Warwick, Executive Editor-Technology, Aviation Week & Space Technology. “We also discovered that part of the innovation is reflected through entirely new business models to support markets and customers that are much different than those of the legacy aerospace and defense industry.”
About the Study
The research was based on mining publicly available documents for key factors indicating technology innovation. In addition to the data results, profiles were developed for each company to include technological accomplishments and core areas of R&D.
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Aviation Week Network is the largest multimedia information and services provider for the global aviation, aerospace, and defense industries, serving 1.7 million professionals around the world. Industry professionals rely on Aviation Week Network to help them understand the market, make decisions, predict trends, and connect with people and business opportunities. Customers include the world's leading aerospace manufacturers and suppliers, airlines, airports, business aviation operators, militaries, governments and other organizations that serve this worldwide marketplace. Aviation Week Network’s portfolio delivers award-winning journalism, data, intelligence and analytical resources, world-class tradeshows and conferences, and results-driven marketing services and advertising.
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ABOUT KPMG
KPMG LLP is the independent U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s independent member firms have 207,000 professionals in 153 countries and territories. Learn more at www.kpmg.com/us.
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