DIGITAL TRANSFORMATION: Current spark for Aerospace & Defence!

Adapt and transform is the key to innovation. Advancing profitable business with some decades of stock market outperformance, the Global Aerospace and Defence is in stagnant with respect to the increasing growth of aerospace environment strategies.

Modifying business products and services to a digital economy takes sheer talent and a lot of money and also happens to find a business relevant to it. This will unlikely spark universal chaos in business standards. It is better to know that a digital transformation is not termed as an ultimate interruption. Fact is it just paces up with an already separated market phase. 

1. The transformation has been enhanced digitally. Several top notched companies have adapted to the digital transformation process to give a boost to their businesses. Gains have been increased with a strike of 20 per cent with a lot of new revenues and transformations.

2. New business models and entrepreneurship have been on the go. Revenue goals have been growing indiscriminately which is, in turn, reshapes the customer-supplier relationships. Target areas have been MRO sectors and mostly consisting of product development, training and data management.

3. Records have been set as new companies have looked upon cutting costs and enhancing strategies with new avenues of growing

4. Leading aircraft OEMs have tremendous growth and focused ambitions with leading companies aiming for a jump start of their revenues in the next ten years.

A government in every area has a primary objective to create employment that would last longer. This digital industry aims at this as the advancement of digital companies is on par with any other industry. A generation has been getting hired and even few of them are into entrepreneurs.

Unlikely several loopholes have also been witnessed which has a similar effect to the candidness.

Airlines growth have been at a declined rate with fuel prices increasing dominantly. Currently, the growth of fuel prices is aimed at being 28 per cent.

Global passenger jet compartment has been on a rise of about three times in the next twenty years as newcomers have had a tremendous rise in the recent years.

Aviation service market is growing globally with manufacturing outputs. Large deals in the MRO industry. Mega deals have increased tremendously involving system and equipment suppliers to the increased profit.

Global defence around the globe is increasing in a spree, thus leading to more number of conflicts arising in most part of Asia.

The ongoing trend suggests the space market is growing in an accelerated growth of more than 5 per cent per year. Similarly, the satellite industry has been experiencing the drop of equipment mostly satellites and geo orbit constellations which targets the consumer market. Thus the pricing competition is putting a tremendous pressure.

To overcome these limitations and become digital businesses giant, companies need to leverage the aspect of things – a modulation of digitalization across widespread reach, better understanding of customers, and capturing new business standard

Technology, entrepreneurship, digitalization, new economy startups and various other small-scale sector are current enhancements that do not mean and imply simple innovation. As such Innovation creates new elements and does not simply manipulates the existing ones.

Internet of Things in the Energy sector

Internet of things has emerged as a new reality in the technology world. Energy industry analysis suggests that the internet-devices are coming up as the tool to upgrade productivity and efficacy while further enhancing the decision making process. It has also contributed to solving the critical problems and create new innovative experiences.

With more tools connecting, the companies typically face increased fragmenting, and security challenges. There are a couple of technology marketers which are offering integrated scalable hardware and software solutions specially built in order to meet the requirements of the market. Intel, McAfee and Wind River to name a few. The software projects incorporate the energy infrastructure which is already there and streamline it to enhance its security and reliability.

The put combined efforts by the three market giants bring the expected end-to-end security requirement into practicability. While Intel offers the scalable architecture to host the far-dow embedded OSs and applications from McAfee and Wind River solutions hold 30 years of offering security to the digital worlds. This further gets augmented by Wind River for IoT applications.

There’s also a solar energy project which is being researched to incorporate with the Internet of things. Photovoltaic panels have been in use for past 6 decades and yet the technology accounted for a hardly any power generated in past a couple of years. Nevertheless, with the recent application research of Internet of Things, there’s network of over 9 billion sensors and devices which are collecting data from all the source at any given point. This is ensuring informed decisions which are even speedier and powered by automation.

There are various data centers where IoT solutions are being applied to wide-ranging industry verticals. It has enabled the industry sectors to grow faster and with utmost precision in the outcomes. The market forecast suggests, the total number of connected things is forecasted to reach 20 billion by 2020.

For energy firms, this would imply that there will be extensive flexibility in the operations while accommodating new energy sources. Enhances management system for assets and the overall workflow. IoT application in the energy sector would also enable reliability, greater security and better customer services.

Smart Operations And Next Generation Manufacturing

The manufacturing companies produce innovation every day. Powerful smartphones personal aircraft, unmanned drones, personal aircraft, driverless vehicles or even rocket. All these advancements proffer the apparition of next-generation manufacturing.

However, market research reports suggest that manufacturing industry hasn’t got its tech-turn as in the case of other industries such as 3-D printing. The industry still depends on the conventional pipeline process. Even the process of using workflow and intelligent automation tools.

Finance, retail travel, and numerous other industries have room for tech-transformations. Following are a few manufacturing industry struggles which can be maneuvered if emphasized in the area of technology.

• Poor system of communication
• Coordination between mechanical engineers and manufactured
• Delayed and costly processes.
• Difficulties in processing multiple projects at once.

To complete with the notion of efficient manufacturing industry, there’s a need to underline the area of software-driven solutions for better improvements in the hardware sector.

This may enable a smooth start-to-end process to production and hardware teams. This will further shape the key areas and accelerate the needful advances in the industry.

As per manufacturing market research, the following are some of the areas where innovations and improvements can be made:

Workflow

Online collaboration software solutions will simplify the whole internal and external coordination process in the manufacturing company. Some of the 3-D viewing tools can be incorporated in the industrial administrative process which will enable to capture exact feedback, resolution to issues and assemble the production bundles for quotation.

Automation

Some of the automation and machine learning techniques can be employed in this industry to improve the process of  DFM and quotations. This will remove the conventional manufacturing timelines which require manual interchange for each process involved.

Vendor Management

Connected manufacturing networks which are scaling on an international level with global and local support can be done well. Real-time views through intelligent systems will ease the process for vendors and also help them ensure high quality in the service delivered.

Though the complexity has increased with various advancements in other industries, The two-decade-old MS office tools are still being used in the manufacturing industry to manage the overall workflow. Applying machine learning and software advancements will allow the manufacturing industry to transform to the extent that there will be faster service and high quality maintained.

More renewable energy projects: sector creates more 45,000 new jobs

The previous work sector was indeed of renewable energy since the renewable energy sector created more than forty-five thousands of new jobs in India. Reportedly, more than 4 lakh people were employed during this time.

The country is meeting the water crisis in many regions, although, experts anticipate that if the country possibly attains the renewable energy goals, it could considerably reduce its water consumption intensity. What should interest you is India’s project of adding 227 GW of renewable energy volume by March 2022. With this, India will be included among the top three economies to invest the most in the renewable energy sector.

Water Risks & Data Analytics and Senior Manager of Global Water Program at WRI, Tianyi Luo says India can perhaps reduce its water consumption severity by more than 25%. Most importantly, this can be achieved on by meeting the determined renewable energy targets.

Research reports suggest that India’s 90% thermal power requires fresh water for cooling. If more solar PV projects can be employed to the nation’s power mix, it can surely reduce the water consumption in the country. Wind power projects could also be added to the same.

Wind does not require water while generating electricity while water consumed by solar PV is almost negligent. On the other hand, concentrated solar plants, nuclear and biomass consume more water with high intensity, especially when compared to the traditional fossil fuel plants. This is mainly due to their generation efficiency. That being stated, the energy potentials of solar PV and wind projects should be taken into account in the overall power market.

There are a couple of the latest market research reports which reveal data on 40/60 energy development target.  The Indian government can obtain it while decreasing the consumption by 25%.  

“Renewable energy has become a pillar of low-carbon economic growth for governments all over the world, a fact reflected by the growing number of jobs created in the sector,” said Adnan Z Amin, director-general of IRENA, in a statement. 

Why are Indian firms on a Lithium hunt?

Lithium batteries are the new oil.

The world is looking at a complete transition from conventional engines to the paradigm of electric vehicles and batteries. The developing nation of India is aiming to achieve 30% of this target within the next decade and it is important to know if this is a plausible goal. Does India have the resources crucial to this transformation?

The recent developments

Automotive market research reports affirm that, with great support from the governing body, companies are looking forward to an electric vehicle boom in the near future. As a preparatory measure for this, three state-owned companies, National Aluminium Company Limited, Hindustan Copper Limited and Mineral Exploration Corporation Limited have come together to set up a joint venture.

This joint venture is named Khanji Bidesh India Ltd. abbreviated as KABIL. The firms that are a part of this venture have been mandated to seek Li and Co assets overseas. This process is expected to get underway in the next financial year. The KABIL companies have been thus been given a deadline of fixing all suitable corporate structures and completing the necessary formalities by March 2019.

This model of operation is also open to private mining companies willing to join in. 

What necessitates an overseas acquisition?

Indian government companies are spearheading the Lithium hunt and there are specific reasons why they’re scanning through foreign lands

·       The expansion of the lithium battery market in India would be difficult because there isn’t a plenty of this novel mineral.

·       There needs to be a reduction in dependence on oil imports (although we may then become dependent on Lithium imports that can be sorted out in the initial phase itself)

·       It will help the Indian government stay in touch with foreign countries for further aid through bilateral diplomatic channels

Will the renewed interest in EVs sustain itself?

Market research reports say that recent battery technologies have allowed the mass-production of electric cars and that is why their market is slowly regaining traction. But they’re still not ranked the best when compared to their much cheaper alternatives.

Not only are liquid and gas fuel-run cars cheaper, but they’re also met with the necessary infrastructure. There are fuel stations from place to place. Charging stations need to be constructed as an all-new amenity for the introduction of electric vehicles on road.

However, there are also many benefits of Lithium battery-run vehicles

1)      Unlike the current day cars, where engines are powered by fuel and accessories by battery, in an EV, the batter will serve the requirements of the entire vehicle as one

2)      Lithium-ion batteries are highly capable and can supply a good amount of current with minimal charging.

The challenges include safeguarding the battery in the vehicle. Li is a highly reactive metal and burns spontaneously on exposure to oxygen in the air. This may pose a major threat to the lives of the passengers aboard.

There are top companies now introducing electric prototypes of their vehicles. How the batteries transform themselves in the coming years will be a noteworthy observation. 

PM Modi states 5 reasons for GST’s “success”

1^st of July 2018 will mark the one-year of GST’s existence. It will be the one-year anniversary of one of Modi’s most controversial steps after demonetization and also one of the biggest tax reforms over the globe. In our PM’s monthly radio “Mann ki baat” this Sunday, he addressed the nation and stated 5 reasons why he thinks the Goods and Services Tax rollout was successful.

1)     Cooperation from the states
Mr. Narendra Modi believes that the successful implementation of GST exemplifies cooperative federalism. True to his views, it isn’t possible to include people from different political ideologies and instrument an altogether new system without the unanimity of the states in a decentralized system. A consensus of opinions from individual state governments to serve the interest of the public is a major reason why the GST structure could function without hassles.

2)     Honesty as a valued moral
Prior to the existence of GST, there were 17 forms of taxes that an individual had to pay. Not only is it now convenient because there is a single applicable tax but is also uproots the domination of tax inspectors. The high number of complaints filed by the public in the past, that has been looked at as evidence for the prevalence of corruption, has now decreased. GST thus marks the celebration of honesty.

3)     The integration of IT into the field
It has been introduced as an integral part of the Finance and Banking sector in India. Computers have replaced the human police in the field of taxes. Income tax returns, refunds, etc. are all filed online now, so the chances of human error in evaluation or illegal maneuvers is lowered. 

4)     Decreased checkpoints, faster movement of goods
Commercial tax check posts in a large number of states were abolished after the introduction of GST. Vigilance has become easier. Not only does this benefit the government but it also facilitates the quick movement of goods. The area of logistics is reaping great benefits from this.

5)     The power of the masses
If the GST system received a revolt from the public, it wouldn’t have been possible for the nation, as a whole, to reap any of the aforementioned benefits. PM Modi thanked the citizens of the country for willingly adopting the system and making it a success. In such a vast country, with a great diversity in population, market research claims that it might take 5-7 years for proper implementations of tax reforms.

The common man’s take on the success of GST

The party is over for those who don’t pay taxes. And the citizens of India are definitely happy paying just one kind of tax for everything from shopping bills to their household items. But if there is one thing that the country still lacks, it is a robust development in the IT sector to support this drastic reform. Mapping dealer’s data with PAN and integrating banks in this process continues to be a challenge. The economic scenario of the country amidst all these developments remains hard to judge. There is no harmony in public opinion and the success of GST among them remains subjective. 

A timeline of the in-car infotainment systems

Stuck in traffic, let your virtual assistant voice the news updates. Oh, and what’s a road trip without good music?

The car audio system market has been popular right from its advent. It has been constantly evolving. And many functionalities of the car are now linked to the car audio system. A good example is the recent innovation of parking voice sensors. It helps the driver during parking maneuvers and alerts him about unseen obstacles.

Up to the 20s, driving was a silent affair. Automobile market research to trace the origins of car audio systems say that the most initial ones were to be bought from stereo shops separate from the vehicle. The sound quality wasn’t as good as the present day, and connectivity was poor. It was majorly AM radios and less of a personal touch.

Rewind to over 80 years back from today. 1930, that’s when the first ever in-car audio system was developed. It was a dashboard radio named Motorola. Then came the debut of FM radios in the early 1950s. The transition from these FM radios to cassettes and today’s speaker systems with powerful amplifiers and finely tuned frequency response curves was gradual. But a market forecast would suggest how the progress rate has always increased. Much more advancement in the car audio market is expected in the coming years.

Today’s customers are facing great trouble getting the perfect car for them. This is because luxury cars Jaguar and Land Rovers have been among the worst performers with regards to their infotainment and navigation systems according to a car audio market report. Korean brands like Hyundai have occupied the top spots.

It is important for every manufacturer to learn about the needs and expectations of the customer. In the fast-paced world of today, everybody is looking to attain their best possible productivity even on-the-go. There is an increasing number of audiobook readers these days. This biggest new reading trend while driving is an opportunity for businesses in the car audio sector. AI is increasingly penetrating the sector. Virtual assistants are being adopted to assist the driver and passengers in controlling the various systems in the car like heating and cooling and even navigation tools.

High-quality rankings in the car-audio market are dependent on how well the clientele is understood by the manufacturer. One must aim at developing a comprehensive understanding. Newer trends can be recognized and opportunities can be leveraged if a pervasive industry analysis is conducted. 

China’s next bet, the used car market

What’s a popular trend in most regions of the world, was unknown to China until the 2000s. Automotive market research reports claim that most people were only buying new cars. But China is finally adopting the trend drilling holes in people’s pockets and the ozone layer at a slower rate than earlier.

Used cars are not only economical but also reduce the carbon footprint greatly. All the energy and resources that go into procuring raw materials, the production processes, and the assembly of new cars are saved. This, according to market research data, means that about 35% of the vehicle’s lifetime carbon emissions is saved! Apart from lowering the carbon footprint of the country, what other impacts can this new trend have on the vast land of China?

The country before and after entry into the used car market

There are a plethora of considerable reasons why the Chinese did not favor the used car market. The primary reason being the poor-quality manufacturing. The prototypes were designed to be affordable and not necessarily durable. The prospective second-hand buyers had no ways that could determine the accident history or other necessary specifics of the vehicle in a concrete manner.

Moreover, the local government’s regulations did not allow choice. Cross-province sale of used vehicles was restricted as a way of supporting the indigenous makers and dealers.

Now, the government has begun freeing the population from such rules. People are starting to realize the value of secondhand cars. The sales of used cars in China have only gained pace since the 2010s and are still not at par with most of the world.

An advancement that has aided the thriving of this market is the improvement in production quality. Cars now meet the quality and safety standards and, therefore, last longer than earlier. With the prevailing conditions, a forecast analysis from market research would predict that the used car market will continue to grow while continuing to remain uncompetitive. The US has been among the behemoths of this sector and China, in 2020, despite all the progress, will remain years away from matching up to it.

The used car market has definitely added value to China’s economy. Investors are noticing its growth and have bet billions of money on it already. This creates possibilities for the entry of entrepreneurs next. Many car companies have already begun schemes for second-hand cars.

How will this serve the government’s motives?

The entry of the used car market into China sets up a network in which the government and its citizens can live symbiotically.

The government has stated its will to go completely electric on road in the coming years. The used car market is driving China towards the low-carbon future that its government wishes for while creating no financial loss for it citizens.

Gradually, as an increasing number of clean-tech based cars will be made, traditional engine run vehicles will transition to second and third owners. They will soon be eased out of the system creating no troubles.

The used car market is thus seen to build a promising model for China’s prosperous future.

Vertical farming promises a balance between demand and supply

The global population has attained a burst. With the rising number of people, there is an increased competition for land space to stay on, and to nurture resources for mankind’s sustenance. Just like every other, the Agriculture and Food market faces the challenge of decreasing availability of terrestrial space for the set-up of farms and its subsidiaries. In fact, when the demand for feed for the growing population is rising, the area for farming the produce is reducing as a sacrifice for shelter.

Space-saving architectures of buildings include multistoried structures. When we humans sensed the low availability of space, we started to convert individual apartments to flats over flats. So, now that agricultural land is on a decline, what do we do?

Yes, we stack up layers! To obtain high crop yields in the less space available to conventional agriculture, farms are rather constructed indoors as vertically inclined and integrated structures. This kind of farming is referred to as vertical farming and is looked up as a solution to feed the population despite the lack of space caused by urbanization. 

Can vertical farming take the place of conventional methods?

 

The vertical farming market is seen as capable of generating produce all-round the year through the controlled environments that are maintained. This can be much more fruitful than the traditional sow and reap cycles. What’s more?

·        There is no possibility of the pesticides or herbicides used to seep into nature and take a toll on our health

·        It saves water. Vertical farmers have devised ways to recycle water by fish farming. The water from the plants are directed to fish tanks and the waste from fish is used to nourish the crops.

·        Not just water, every other nutrient required can be supplied only in the required amounts.

·        Moreover, no heavy machinery is required to maintain the plants. So, costs are cut-down and the resources that go into their manufacture are saved.

·        Profitability is raised. The crops are less prone to extremities of climatic conditions. Artificially stimulated conditions can further optimize their growth

·        And most importantly, vertical farms save space! 

So, is vertical farming an ideal solution?

 

While vertical farms do guarantee a more sustainable solution, market research reports don’t unanimously see it as an ideal solution. After all, every new method has its pros and cons. The downsides to vertical farming include

•         High-cost involvement

                1.      To find an appropriate indoor setting in today’s urban environment is costly  
                2.      The costs of constantly maintaining an artificial environment can be prohibitive

•       Not all traditional crops are suited for vertical farming. This includes staples like wheat and potato

•       It is difficult to find an area for production that also has a good market for your crop. The high-cost involvement doesn’t allow a lot of investment in transport and logistics.

Since the positives of vertical farming are many, through extensive research, solutions can be devised for the existing challenges. This will highly increase the efficiency and productivity of the agriculture and food market.