LONDON--(BUSINESS WIRE)--Technavio, a tech-focused research firm, has published a new report on the global cPDM in the aerospace and defense sector, which is expected to grow at a CAGR of over 10% from 2015-2019.
The latest report by Technavio draws attention towards the growth in the aerospace industry, which is expected to increase in the next few years due to growing international trade and declining airfares. It is estimated that the number of commercial airplanes across the globe will grow by 3.62% annually until 2030.
“The growth in the aerospace industry will further increase the demand for cPDM, leading to market growth during the forecast period,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also discusses the availability of cloud-based services, which is compelling vendors to increase their focus on reducing the adoption cost of PLM and opting for cloud-based PLM software.
“Various PLM service providers are implementing PLM on the cloud for end-users. For instance, Wipro is providing cloud-based PLM services for Siemens PLM Software Teamcenter,” adds Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- cPDM Market in France - Trends and Forecast 2015-2019
- cPDM Market in the UK - Report Analysis, Forecast and Trends
About Technavio
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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