PTC (NASDAQ: PTC) announced that CIMdata, the leading global PLM strategic management consulting and research firm, has named PTC as the leading provider of Product Lifecycle Management (PLM) collaboration software to aerospace and defense (A&D) manufacturers for the second consecutive year.

“Based on CIMdata’s research, PTC once again leads the industry in cPDm solutions within the Aerospace & Defense market with its PTC Windchill portfolio. Its smart, connected solutions have been greatly enhanced with the addition of ThingWorx technology, which helps PTC’s customers use the Internet of Things to enable Product Lifecycle Management that truly spans the lifecycle from idea to use in the field, and can leverage that operational intelligence to improve future products,” said Stan Przybylinski, vice president of research, CIMdata.

The report also forecasts the PLM market to reach $52.3 billion by 2020, with digital manufacturing growing to $886 million over the same five-year period. In early adopting industries like aerospace, there is continued opportunity among large companies to update or replace aging implementations.

A&D manufacturers continue to view investment in PLM strategies and technologies as a key means to innovate, differentiate, and drive efficiency into product development initiatives. Around the world, these manufacturers seek to implement ways to modernize their technology infrastructures and business processes to meet rising market demand.

"We're honored to once again receive this validation from CIMdata, and we continue to commit to the success of the A&D industry by providing high-quality, market-leading solutions," said Kevin Wrenn, divisional general manager, PLM segment, PTC.

PTC was the first to offer PLM software for the Internet of Things (IoT) era. Windchill is enabled by [PTC] ThingWorx to integrate data from physical products, web-based resources, and enterprise software systems to deliver outstanding access, insight, and value in a modern and easily consumable user experience. Windchill closes the 'lifecycle' loop with IoT data captured in real time during the operation of physical products, providing powerful value and insight for A&D manufacturers.

These findings were published as part of the CIMdata 2016 Market Analysis Report (MAR) Series. The MAR Series provides detailed information and in-depth analysis on the worldwide PLM market during 2015. It contains analyses of major trends and issues; revenues of leading PLM solution providers; and revenue analyses for geographic regions, industry sectors, and historical and projected data on market growth.