The core features of most capital products are basically commodities. Every car now has an automatic transmission, A/C, fancy radio, electric windows, etc...
Manufacturer's can only increase prices (and thus keep ahead of inflation) by innovating the edge with new features, wanted or not.
Is Ford or Caterpillar really best positioned to design and deliver a mobile flat-panel touch screen device? Not likely, but putting one in their vehicles creates opportunities for higher prices and new innovations.
VERY LITTLE of this is available in the aircraft market where every new part number requires justification, testing, and approval.
The health-care market is very similar yet demand is so high and inelastic that it still justifies huge investments.
Manufacturer's can only increase prices (and thus keep ahead of inflation) by innovating the edge with new features, wanted or not.
Is Ford or Caterpillar really best positioned to design and deliver a mobile flat-panel touch screen device? Not likely, but putting one in their vehicles creates opportunities for higher prices and new innovations.
VERY LITTLE of this is available in the aircraft market where every new part number requires justification, testing, and approval.
The health-care market is very similar yet demand is so high and inelastic that it still justifies huge investments.
Aviation... not so much