VDMA7.3 billion euros in losses due to product piracy
Product piracy and know-how theft continue to cause considerable damage to German machine and plant manufacturers. China remains the biggest counterfeiter by a wide margin. The VDMA presented the latest figures on this at the Hannover Messe 2018.
© VDMA
The estimated loss incurred by German machinery and plant manufacturers as a result of product piracy has fallen to 3.2%. With a simultaneous increase in annual turnover, the loss currently amounts to 7.3 billion euros. Compared to the previous study from 2016, the absolute company loss has therefore not changed. According to the VDMA, a turnover share of this amount corresponds to around 33,000 jobs in the mechanical and plant engineering sector. However, compared to the previous survey ...