[CASE STUDY] Overhauling Analog Processes with Digital Transformation

OPPORTUNITY:

Digital transformation is sweeping the aerospace and defense industry with three in four executives expecting to reach an advanced level of digitization by 2020. A partner in aviation maintenance, repair and overhaul (MRO) was no exception. This company realized that emerging technology like data analytics, smart sensors, IoT platforms, augmented reality and wearables, among others, are set to disrupt the current manual way of inspecting and repairing aircraft while aso creating new market opportunities.

COLLABORATION:

Together with the industry-leading MRO provider, TechNexus Venture Collaborative analyzed the venture activity around technology themes that would advance current processes and drive new data-enabled services capabilities to expand the company’s core offerings. It then created a venture enabled digitization strategy. Together, they created a roadmap of innovative technologies impacting its business and prioritized those that could advance its business processes, increase operational efficiency, augment its workforce, open new service offerings, and overall decrease dwell time for its customers’ aircraft. 

OUTCOME:

In ongoing collaboration, TechNexus has built a portfolio of ventures enabling the company to embrace digital transformation to inject new technology into its current workflows, uncovering ways to decrease cost and optimize operational efficiencies. This resulted in the first venture engagement and investment that has served as a core element of the company’s future platform. TechNexus continues to source and invest in ventures that align with the company’s evolving technology strategy, prioritizing partnerships that can accelerate the development of new technologies and offerings in the near-term.