The industry I chose to discuss this week is Aerospace more specifically the space side. The space industry has been transforming itself beginning with the launch of Sputnik in 1957. Industry activities have been driven by innovation; however, the insertion of commercial market demands have pushed momentum beginning at the Cold War. Because of this, the industry changed directions in order to “leverage new business opportunities, which reached a pivotal point in the last decade” (Preeti, 2020). The trend of removing traditional barriers and allowing commercial companies into the space realm drives innovation.
Traditional barriers prevented access to space but with removal of some tapes more and more startups, companies, and governments can launch their own spacecrafts. Smaller lesser-known companies like Planet, Hawkeye360, Spire, Capella Space, BlackSky, and Swarm have successfully raised money and launched satellites. Then there are also more known private organizations like SpaceX that entered the game in 2002. SpaceX brought technologies like the falcon 9 that can return to its launchpad after taking off, the first of its kind. Business model for each company varies from tracking radio signals and gathering radar data to imaging every inch of the Earth to communicating with internet-of-things devices. The number is going to increase over the years and redefine items that consumers use every day including items like the GPS.
Preeti, P. K. (2020, August 19). Key Trends That are Likely to Dominate Space Industry. Retrieved December 06, 2020, from https://industrywired.com/key-trends-that-are-likely-to-dominate-space-industry/
DQ. 2 DAV
I chose to research biotechnology, drugs, and genetics, and more specifically biotechnology in the diagnostics and surgical sector (namely, hospital biomedical/clinical technology). R&D is at an all-time high with companies such as Siemens, GE, Phillips, Steris, Beckman Coulter, and several others.
The industry is headed in a direction toward more robotics and automation. While this reduces the need for personnel, the precision of computers and robots reduces or eliminates the possibility of human error.
One leader in robotics in the biomedical industry is a company called Intuitive. They make a machine called the da Vinci machine. it is a robotic assisted surgical device where the surgeon sits in a control center that is away from the patient. In this control center, the surgeon has detailed and enlarged views of microscopic areas of the patient. The surgeon then has controls (think joy sticks) to move the robotic arms and perform minute surgical procedures.
The benefits of using this procedure rather than conventional procedures is that the patient ends up with less scarring and has a much less possibility of an error being made. The incision is much smaller and the repair is much more detailed.
From a marketing standpoint, when a hospital has this device, they then to mention it in all advertising. It shows that the facility is innovative and is on the cutting edge of biomedical technology.