The aerospace and defense industry along with defense manufacturing conferences have been facing enormous changes in the face of COVID-19. As we make our way into 2021, companies are committed to a full post-pandemic recovery and believe there are some significant trends to watch out for.
One major idea to watch out for in aerospace and defense manufacturing is that cash and liquidity are key. Companies within this industry must aim their focus to finding a balanced financial strategy that can help sustain operations. Top companies within aerospace and defense are noting that liquidity is among their top challenges over the upcoming months. Suggestions to control the financial impacts from COVID-19 is for companies to set up liquidity control towers and use their own data to provide finance management models. This kind of thinking prepares companies for success and can help balance their assets.
Another industry initiative is smart manufacturing and supply chain management. Automation creates a solid foundation for next-generation technology to take off in the aerospace and defense manufacturing world. Not only will new tech enhance the already active supply chain, but it will accelerate the pace – something much needed in 2021.
Industry experts are also bringing light to the newly reinvigorated effort of space exploration. While 2020 brought some exciting space age moments, it is expected that funding for space will continue to increase. Those in the know are looking forward to scientific collaboration driven in part by demand for broadband internet access and the possible militarization of space. Experts are looking forward to technological advancements and a reduction in launch costs.
Lastly, it’s important to keep in mind that aerospace and defense manufacturing conferences and companies are optimistic about a 2021 return to normalcy. Deloitte even stated that long-term growth prospects for the aerospace and defense industry remain strong.
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