McKinsey sought to understand the implications of disruption in three industrial sectors: automotive, aerospace and defense, and diversified industrials (building and industrial technologies, machinery, and power equipment).
We spoke to more than 300 senior executives from incumbents, start-ups, think tanks, governments, industry associations, distributors, and resellers around the world. The head of a semiconductor company summed up the situation facing the semiconductor sector: “We’ve had technology disruptions before, but the market was stable. Now the market is being disrupted as well as the technology.” What can incumbents do?