Fundamentals of the economic growth of engineering enterprises in the face of challenges of the XXI century

The world economy is currently undergoing an irreversible transformation caused by the fourth industrial revolution, characterized by the merging of technologies and the blurring of borders between the digital, industrial and biological spheres. The main factor in creating a unique product in the face of the challenges of the 21st century, aimed at meeting future needs is the continuous growth of innovative potential associated with the development and implementation of new technologies and equipment, improving management methods. At the same time, companies need to constantly monitor the technological development of all market players and industries in order to maintain the competitiveness of existing and create new unique products that can lead a company to long-term competitive leadership. © 2020 IOP Publishing Ltd.