Fundamentals of the economic growth of engineering enterprises in the face of challenges of the XXI century

Abstract

The world economy is currently undergoing an irreversible transformation caused by the fourth industrial revolution, characterized by the merging of technologies and the blurring of borders between the digital, industrial and biological spheres. The main factor in creating a unique product in the face of the challenges of the 21st century, aimed at meeting future needs is the continuous growth of innovative potential associated with the development and implementation of new technologies and equipment, improving management methods. At the same time, companies need to constantly monitor the technological development of all market players and industries in order to maintain the competitiveness of existing and create new unique products that can lead a company to long-term competitive leadership.

The Main Trends and Challenges in The Development of the Different Industries During The COVID-19 Pandemic

“…The research methodology included an economic analysis of data on air traffic in different countries. The theoretical and methodological basis of the study was the complex use of a system of methods used by Russian and foreign specialists in the field of management: methodology of structural functionalism, systems approach, structuralism, activity approach, and interactionism [4][5][6][7][8][9].…”

“…The scale of the existing negative consequences depends, as a rule, on the type of transport and the state's integration into the world transport and logistics system. During the pandemic, 90% of flights were canceled in the countries of the European Union (EU), there was a decrease in the volume of passenger traffic by cars by 60-90% and by public transport by 50% [3][4][5]. Under the leadership of the United Nations, international organizations and international Unions, and Air Carrier Associations, taking into account the emergency situation in the world, took a joint decision to develop effective recovery mechanisms and an anti-crisis action plan for emergency stabilization and accelerated recovery of the industry, after the emerging economic difficulties.…”

“…The aircraft market situation was not easy before the start of the pandemic. Boeing (USA), one of the largest aircraft manufacturers in the world, was already in crisis due to two disasters of the 737 MAX model [4,20,21]. Cancellation of orders, deterioration Source: [11] The spread of coronavirus and falling demand for products forced Boeing's American factories to halt production and cut workplaces completely.…”