Aerospace and defense industries encounter stringent trade compliances. Operating in the global environment, aerospace and defense industries face complexities owing to the control of International Traffic in Arms Regulations (ITAR) on import/export of defense-related goods and services. GTM solutions and services enable aerospace and defense companies with automated capabilities to manage the import/export by providing automated functions for documentation, licensing, and restricted party screening.
Frequently Asked Questions
What are the key drivers and opportunities for Global Trade Management Software market?The key drivers such as increasing complexities in global trade, changing government rules and regulations pertaining to foreign trade, increasing transportation costs, and increasing investment in global logistics infrastructure are responsible for the growth of the global market. The top opportunities include: Advanced features to link with existing corporate systems and SaaS Model for global trade management
What are the key features of Global Trade Management Software and where it is used?Global trade management solutions offer advantage to organizations to, manage trade efficiently across various regions. Global trade management solutions are being used across several industry verticals such as transportation and logistics, government and public, healthcare and life sciences, aerospace and defense, manufacturing, consumer goods and retail, energy and utilities.
How does the market estimate for Global Trade Management looks like in coming years?The global trade management market is expected to grow from USD 645.2 million in 2017 to USD 1,034.2 million by 2022, at a Compound Annual Growth Rate (CAGR) of 9.9%.
Who are the key target audience for GTM software?The target audience are: Enterprise users, Trade organizations, Government agencies, Industrial users, Freight forwarders, Global trade management vendors.
What are new solutions which the global trade management companies are exploring?GTM solutions address the requirements of logistics management, regulatory compliance, import and export processes, and financial information of an organization. These solutions streamline and automate business processes and enable businesses to determine the total landed cost. The implementation of trade management solution helps increase productivity, allows real-time access to different supply chain components, and increases visibility across the entire organization
Which are the key players in the market and how intense is the competition?The major vendors that offer global trade management solutions and services across the globe are Amber Road, Inc. (US), Aptean (US), Descartes (Canada), SAP SE (Germany), Integration Point, Inc. (US), Oracle (US), Precision Software (US), QuestaWeb, Inc. (US), Livingston International (Canada), MIQ Logistics (US), Thomson Reuters (US), and MIC Customs Solutions (Austria). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions to expand their offerings in the global trade management market.
Global Trade Management Software in Aerospace and Defense
The Trade Management program from FARROW provides clients a real experience of the customs department. The client has the advantage of highly trained and experienced professionals managing the complete process right from procurement to the payment. The platform provides a comprehensive approach to routine customs activities.
EDI Solutions from enVista provide EDI Software and Advanced Trading Partner Management for Omni-Channel Brands the ability to seamlessly exchange data with trading partners and across the retail network. They decrease invoice processing costs, advance customer service, and enable progressive trading partner management.
CargoWise One is a one-stop software solution which is intended to increase productivity and expand incorporation, automation, and communication with the supply chain. The solution integrates business activities with clients and business partners. It automates the process and further increases efficiency, reach, profits, and operational productivity. The solution meets the diverse needs of niche industries.
Global Trade Management software by BPE Global is a comprehensive solution that selects and implements trade management software. The solution focuses on a particular methodology which begins by drafting business requirements, selecting vendors, implementing software, training users, and maintaining the software.