Around 46% of companies in the German mechanical and plant engineering sector are affected by product and brand piracy. This is according to the study ‘Industrial Security and Product Piracy 2024’ by the German Engineering Federation (VDMA). The estimated losses amount to around 4.1 billion euros per year. According to the VDMA, sales of this amount could secure almost 16,000 jobs.

However, the economic damage is only one side of the coin. The security threats posed by counterfeit components are also serious. According to the VDMA, two out of three companies stated that counterfeit products constitute a risk. Every second counterfeit threatens the system - and in around 40 percent of all cases, the people who are responsible for operating it.

The VDMA examines the effects of product piracy on mechanical and plant engineering every two years. Compared to the last study carried out, a positive trend is emerging. In 2022, the proportion of companies affected was still 72%. The association attributes this development to the increased awareness of the importance of reliable product and brand protection and the resulting increase in measures taken.

Interested parties can download the complete study free of charge as a PDF file  from the association's website.

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