Boeing confirms agreement with Siemens’ Mentor Graphics
The Germany-based automation company, Siemens, and aircraft manufacturing giants, Boeing, have announced an agreement that will see Boeing increase its use of Siemens’ Mentor Graphics software.
As part of Boeing’s Second Century Enterprise Systems (2CES) initiative to transform itself and the aerospace industry to help meet the challenges of the 21st century, it will allow the company to adapt to ever-changing requirements in real world applications and add overall business value to Boeing.
Through the software, Siemens will provide a set of technologies to allow for the next generation of design and manufacturing through enhanced automation and digitalization.
The press release also revealed that the agreement will see Boeing standardize on a common, company-wide platform for semiconductor design and verification, printed wire board design and create thermal and fluid analysis of mechanical designs through the Siemens partnership.
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John Harnagel, Engineering Director, Boeing Defence and Space: “Our partnership with the Siemens-Mentor team will combine best-in-class electrical design tools with Boeing's vast experience and knowledge in our 2CES transformation of electrical design.”
Tony Hemmelgarn, president and CEO of Siemens PLM Software, said: “Siemens is proud to have been chosen as one of Boeing's partners for its second century vision and transformation. Our ability to help customers drive digitalization and realize innovation is our core strength, and we are pleased to see that Boeing values that strength.”
"This partnership is a measure of Boeing's trust in Siemens to help them deliver its vision, and we at Siemens are looking forward to helping them make it happen."
IMF: Variants Can Still Hurt Manufacturing Recovery
After a year of on-and-off manufacturing in the US, UK, and the eurozone, demand for goods surged early last week. Factories set growth records in April and May, suppliers started to recover, and US crude hit its highest price point since pre-COVID. As vaccination efforts immunise much of the US and UK populations, manufacturers are now able to fully ramp up their supply chains. In fact, GDP growth could approach double-digits by 2022.
Now, the ISM productivity measure has surpassed the 50-point mark that separates industry expansion from contraction. Since U.S. president Biden passed his US$1.9tn stimulus package and the UK purchasing managers index (PMI) increased to 65.6, both sides of the Atlantic are facing a much-welcomed manufacturing recovery.
Lingering Concerns Over COVID
Even as Spain, France, Italy, and Germany race to catch up, and mining companies pushed the FTSE 100 index of list shares to a monthly high of 7,129, some say that UK and US markets still suffer from a lack of confidence in raw material supplies. Yes, the Dow Jones has made up its 19,173-point crash of March 2020, and MSCI’s global stock index is at an all-time high.
Yet manufacturers around the world realise that these wins will be short-lived until pandemic supply chain bottlenecks are solved. If we keep the status quo, consumers will pay the price. In April, inflation in Germany reached 2.4%, and across the EU’s 19 member countries, overall prices have increased at an unusual pace. Some ask: Is this true recovery?
IMF: Current Boom Could Falter
Even as Elon Musk tweeted about chip shortages forcing Tesla to raise its prices, UK mining demand skyrocketed; housing markets lifted; and the pound sterling gained value. The International Monetary Fund (IMF), however, cautioned that manufacturing recovery won’t last long if COVID mutates into forms our vaccinations can’t touch. Kristalina Georgieva, Washington’s IMF director, noted that fewer than 1% of African citizens have been vaccinated: “Worldwide access to vaccines offers the best hope for stopping the coronavirus pandemic, saving lives, and securing a broad-based economic recovery”.
Across the globe, manufacturing companies are keeping a watchful eye on new developments in the spread of COVID. Though US FDA officials don’t think we’ll have to “start at square one” with new vaccines, the March 2021 World Economic Outlook states that “high uncertainty” surrounds the projected 6% global growth. Continued manufacturing success will in large part depend on “the path of the pandemic, the effectiveness of policy support, and the evolution of financial conditions”.
Mathias Cormann, secretary-general of the Organisation for Economic Co-Operation and Development (OECD) concurred—without global immunisation, the estimated economic boom expected by 2025 could go kaput. “We need to...pursue an all-out effort to reach the entire world population”, Australia’s finance minister added. US$50bn to end COVID across the world, they imply, is a small investment to restart our economies.