French,British,and German aircraft producers formed Airbus,this alliance allows member companies to effectively share technology and research and development for competitive advantage.The new product development strategy employed by these European aircraft producers is known as the ____ approach.

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The new product development approach employed by the European aircraft producers is known as the consortium approach. This involves an alliance of companies pooling their resources, expertise and technology to jointly develop new products, thereby gaining a competitive advantage through economies of scale and shared R&D costs. Airbus is a prime example of a consortium approach in the aerospace industry.

French,British,and German Aircraft Producers Formed Airbus,this Alliance Allows Member Companies