According to forecasting reports (Airbus, 2013) air traffic has doubled every 15 years and it is expected to double over the next 15 years. In 2013 air traffic increased by 5.7% from the previous year (Airbus, 2014).
Browsing: New product development
The research is about the fact that innovation is an important tool for companies to adjust to competition and changes in the market, and the importance of innovation is justified, by the action of conjoined and critical forces such as intense international competition, market sophistication and quick technological changes.
Innovations are an important factor for companies to build and sustain a competitive advantage. Even though companies generate up to 51 % of their income with products and services launched less than three years ago, the failure rate of new product development is still at around 90 %.