ARC Advisory Group again reveals IFS as the top Enterprise Asset Management (EAM) software vendor in the aerospace and defense sector by market share for the 11th year. In a highly competitive marketplace, just why has IFS maintained this dominance?
In the complex A&D setting, the requirement for companies to maximize visibility to effectively manage assets and achieve operational goals has never been so critical. The need to increase the average age of assets means the highest standard of management is necessary to operate them in their existing state, with the ultimate aim of extending their service life for as long as possible.
Asset-intensive organizations must track core asset management metrics such as uptime, cost control, asset longevity, and safety—which is exactly why investing in EAM software is now a necessity, and why these organizations must be able to trust that the vendor they select can ensure a high return on assets.
Over a decade of sustained success in A&D
Research and advisory firm ARC Advisory Group recently released its ‘Enterprise Asset Management Global Market 2018-2023’ study which shows not only that IFS is the leading EAM software vendor by market share in the global A&D market for an 11th successive year,[1] but that it is dominant. IFS has a total market share greater than its next three competitors in the industry combined.
IFS’ cutting-edge solutions such as the purpose-built, IFS Maintenix and IFS Applications continue to meet and exceed the expectations of its customers, while it also holds the keys in its product portfolio to further expand the company’s user base.
IFS financial clout & tech advancements
IFS Q3 growth figures that were recently announced showed the company has increased its year-to-date (YTD) revenue by 23% ending September 30, outpacing the market by a factor of three. One of the key contributors to this success is the A&D division. The business unit has already achieved several customer wins with industry leaders this year—a list which includes industry titans such as Lockheed Martin and Rolls-Royce—in all adding a massive 41% growth in A&D license revenues YTD.
The ability of IFS to meet the expectations of its customers is also reflected in a recent IDC white paper sponsored by IFS, where customers spoke out about the commitment of IFS to offer what other legacy vendors don’t—providing choice and true customer value. [2] In the A&D and commercial aviation field, this means offering innovative solutions in both product development and manufacturing processes that are easy to use and quick to deploy. The development of product and industry updates—many of which were announced at this year’s record-attended IFS World Conference—demonstrates how IFS has evolved its technology foundation. One of the most significant updates is support for International Traffic in Arms Regulations (ITAR) compliances in the cloud. This is vital for A&D customers with ITAR obligations to confidently deploy and use IFS software to support their business compliance needs.
The driving force behind future innovation
Recent market and financial growth demonstrates that IFS has firmly established itself as the digital thread in the A&D marketplace. But the company won’t be basking in the memories of these successes. This is a highly asset-intensive industry, characterized by a strongly connected network of organizations, and IFS understands that future innovation and technological breakthroughs must be top of mind to maintain its position as the leading software provider in the Aerospace & Defense market.
As we enter the new decade, IFS looks forward to bringing new technology to the fore to connect workforces, while providing our customers with the necessary tools to design, operate and maintain next-generation aircraft.
Read more about recent innovations and technological advancements at blog.ifs.com.
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[1] Source: ARC Advisory Group EAM Global Market Study, July 2019
[2] Source: IDC, 2019 (Please see the full IDC Business Value White Paper, The Business Value of IFS Enterprise Solutions with Industry-Specific Use Cases)
