This industry research report offers growth projections and market shares for the global collaborative product definition management (cPDM) market in aerospace and defense until 2019. The research report pinpoints the key trending factors impacting market segments, including software and services. It presents market shares for Americas, EMEA, and APAC. The leading vendors detailed in the market include Dassault, PTC, and Siemens.
Technavio has released updated information on the cPDM market, with the publication of its new market research report, cPDM in the aerospace and defense sector. The cPDM in the aerospace and defense sector is expected to grow at a CAGR of 11% between 2015 and 2019, mainly driven by the need for better management system.
cPDM plays a major role in restructuring processes in the aerospace and defense industry. It coordinates projects, engineers, and suppliers through product planning and program management. It also involves processes such as BOM management and proper protection of intellectual property. Besides, cPDM eases out the production processes complexities by maintaining a database with contracts, technical documents, change orders, audits, and contract data requirement.
APAC is expected to emerge as the fastest growing region in the global market over the next four years, growing at a CAGR of around 12%. APAC nations such as South Korea, China, India, and Japan will be the major revenue contributors in the global market, thanks to the growing number of R&D units and PLM installations in the region.
cPDM market in APAC by aerospace and defense industry 2014-2019
Source: Technavio Research
“Increased competition among market vendors to provide the best equipment with the least time period, is driving this market’s growth. This has augmented the demand for cPDM as it reduces manufacturing expenses and time. Besides, the key players in the market are increasingly adopting cloud-based PLM software, to cut upfront costs for implementation and the total cost of ownership (TOC), says Sriram Mohan, Lead Analyst, Aerospace & Defense, Technavio Research.
The leading vendors in the cPDM in the Aerospace and Defense sector are Dassault, PTC, and Siemens. The market is highly fragmented with the presence of a large number of PLM software vendors. High growth potential of the market is attracting new players. Also, many open-source vendors are giving tough competition to commercial vendors.
A more detailed analysis is available in the Technavio report, cPDM in the Aerospace and Defense: Global Market Research 2015-2019.
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