As consumers around the world are demanding greater access to air travel, this has led to orders for 38,000 new aircraft. Although this represents the potential for significant revenue, OEMs and suppliers face significant risks that they must overcome in order to develop these aircraft cost effectively and ensure a quick time to market.
A major trigger of these risks is how OEMs are now tasking suppliers with designing aerospace parts in addition to manufacturing.
This has led to financial risks for suppliers as they invest in expanding their business functions to not only manufacturing parts, but also designing parts. This produces a risk for OEMs who now receive parts designed by suppliers who often have little experience in designing aircraft parts.
But there are a few solutions both OEMs and suppliers can take to reduce these risks and improve the design and manufacturing of aircraft parts. …
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