Partnerships Are ‘Future Of Innovation’, Say OEMs

A survey of 50 senior manufacturing executives from the aerospace and defence sector has found that 90 per cent believe that working with their suppliers will be crucial in developing products. The poll, carried out by KPMG, also found that manufacturers were doubling spend on R&D, with three-quarters of respondents confirming that they would be investing 2-3 per cent of revenues on such activities over the next two years, when they had spent just one per cent of revenues on R&D in the past two years. A further 16 per cent said they would be spending between 4-5 per cent of their revenues on R&D. Three-quarters of those surveyed confirmed their R&D activities will be primarily focused on enhancing existing product lines, rather than investing in developing new technologies. 

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