Harnessing Innovation in Aerospace and Defence

Our experts talk key areas of innovation to recover and stay ahead, along with trends and opportunities you should consider

A volatile outlook into 2021

The UK aerospace and defence sector is recognised as a world leader in innovation, second only to the US, but has the turbulent environment of 2020 changed this?

The PwC’s latest report, Harnessing Innovation in Aerospace and Defence Survey 2020, looks at current barriers to innovation and identifies where tangible benefits can be found. The survey investigates how the coronavirus (COVID-19) pandemic has impacted an organisation's ability to modernise operations while transforming and reimagining customer offerings and services. How can leadership, talent, and external partnerships fuel invention and reinvention? And what are the lessons to be learned by those on the outside looking in?

Working in partnership with the ADS Group – the industry’s trade association that represents 1,100 UK member companies – PwC surveyed organisations across the aerospace and defence sector to gain a deeper understanding of innovation in a challenging business environment. The results are instructive, helping shape an understanding of transformation in volatile times, and to develop a series of short and long-term actions to foster innovation and growth.

Three key takeaways

76%

of respondents expect a moderate or significant impact on their organisation as a result of COVID-19
78%

of organisations are placing a high priority on product and service innovation
9 in 10

cite leadership culture as imperative in driving successful innovation within their organisation

Our report tells the story of a vibrant industry facing up to a series of live economic, political, and societal events, complicated by existing sector-specific barriers and challenges. Front of mind is the impact of COVID-19 and the lockdown measures put in place to mitigate its spread. However, our report goes beyond the current situation, exploring obstacles that pre-date – and solutions that will outlast – the pandemic.

“A proper innovation strategy enables you to focus on those few areas you’ve defined as priorities – getting more bang for your buck.”

Harry Malins, PwC