The aerospace logistics market, like many others, is in a state of change. The introduction of enhanced Internet protocol-based software and equipment is driving the market in new directions. This insight covers the market from 2016 to 2026. Logistics to support aerospace activities such as manufacturing; maintenance, repair, and overhaul (MRO); and spares is a significant part of the overall aerospace industry. New platform procurements will grow at a compound annual growth rate (CAGR) of 2.4% and will present a significant logistics support market globally. The aftermarket portion of the industry will grow as additional deliveries are made of new aircraft and the value of the Internet of Things (IoT) solutions is recognized. Replacements of aging assets will drive the global market until 2018. After, it will be sustained by increasing Asia-Pacific demand. The main restraints for aerospace logistics market penetration in transitioning regions are a lack of infrastructure, skilled personnel shortages, and complex regulations. Newer companies with less experience will use IoT tools and outsourcing more readily than established companies. Many companies will transition major elements of their logistics effort through automated systems because the actual services are outsourced. The Big Data revolution will affect logistics systems through the use of smartphones, tablets, and through automated notifications. The solutions available to improve the responsiveness of aerospace logistics using IoT covers a broad set of tools.
Scheduling software has been an important tool for manufacturers for many years, but now it is becoming more automated. This allows triggers to be placed in the software that will start the next set of processes. Within a manufacturing location that can be very useful, but by taking it outside of the walls of the manufacturing facility it can create a new dynamic. It allows truly coordinated manufacturing within a company and within a supply chain. By extending that capability even further, it is possible to trigger events that occur within the logistics effort outside of a company. Potential IoT-enabled activities include material ordering, notification of shippers, notification of customers, and cloud storage of production, fulfillment data, and activities.
Enterprise resource planning (ERP) systems and stand-alone inventory software have been commonly used tools in every aerospace manufacturing company. Sadly, they are often overly complex, focused on accounting, and generally devoid of analytical tools that could be used to improve processes. They are also location dependent and limited to a single company. Today, several companies are offering inventory control software services and some logistics companies are offering inventory storage, tracking, and transactional analysis as a service.
Internet-enabled devices can significantly reduce the logistics effort. Physical storage solutions can ease the pick and pull effort for humans and can enable automated pick and pull from inventory. When demand results in restarts of production, automated jigs can reset the production line and reprogram the machines with minimal downtime.