Industrials and Manufacturing

Industry Overview

Industrials and Manufacturing

Transforming to Address Both Old and New Challenges

As global demand for goods surged following the initial shock of the pandemic, businesses across the industrials and manufacturing industry struggled to keep up due to materials shortages, supply chain failures, and challenges in attracting and retaining key talent. Against this backdrop, managing inventory was near-impossible at times, with cost fluctuations, rising cyber threats and geopolitical uncertainty compounding issues.

To move forward with clarity and confidence, companies across the sector must adopt more holistic risk management and workforce strategies that cover both physical and human assets, take into account expanding environmental, social and governance (ESG) expectations, and reflect the industry’s rapidly rising insurance needs.

At Aon, our teams have deep experience across all segments of the industrials and manufacturing industry—including advanced manufacturing, aerospace and defense, automotive, and heavy industry firms—and we partner with these clients to provide both catastrophic risk and daily cost-of-risk management, implement novel risk transfer solutions by harnessing powerful modeling tools, and build dynamic and resilient workforces.

Top 5 Current Risks

According to our latest Global Risk Management Survey, the biggest risks facing the Industrials and Manufacturing industry include:

  • 01

    Commodity Price Risk or Scarcity of Materials

    The global commodity market continues to suffer from wild mood swings, often due to geopolitical volatility or extreme weather events.

  • 02

    Supply Chain or Distribution Failure

    Supply chain risk is broadening and becoming more complex, extending well beyond keeping shipping vessels moving or suppliers’ manufacturing facilities intact.

  • 03

    Economic Slowdown or Slow Recovery

    Global economic uncertainty is being fueled by geopolitical volatility and unpredictable inflation and interest rates.

  • 04

    Business Interruption

    Previously, companies planned for isolated events. But the risk landscape is now more interconnected than ever before.

  • 05

    Cyber Attack or Data Breach

    Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.

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