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Composite Simulation Software Market Report
Composite Simulation Software Market is Segmented by Software Type (Computer-Aided Design, Computer-Aided Engineering, and Computer-Aided Manufacturing), by End-Use Industry Type (Aerospace & Defense, Transportation, Building & Construction, Wind Energy, Marine, and Others), and by Region ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The next five years for the composite simulation software market are going to be vigorous with attractive growth opportunities in the entire ecosystem of the market. The global composite simulation software market is subjected to grow at an impressive rate over the next five years to reach an estimated value of US$ 80.7 million in 2024. Increasing penetration of composites in various end-use industries including aerospace & defense and automotive; higher demand for automation and faster production process; and increasing demand for simulation software from design to production are the major growth drivers of the market.
The composites industry currently accounts for a minuscule share of the total simulation software market but is likely to be one of the fastest-growing applications in the foreseen future. All the major players are keenly showing interest to participate in the market to capture a large pie of the market in the foreseen future.
Composite materials are far more complex and variable than metals due to the presence of many raw materials, intermediates, and manufacturing processes. It is not easy to produce a final part by developing the right combination of different materials and processes for the first time. Also, there is a big push on the manufacturing side to streamline automation and produce high-quality composite parts faster. Machine throughput is extremely critical to maintain the growth momentum of composites in the mass volume industries like transportation. Simulation software helps composite stakeholders in the designing, development, and production of composite parts more efficiently. It stimulates digitally and minimizes the risk of the expensive proposition of producing the physical parts. Over the past few years, there’s been a big push to add or expand composite-focused simulation tools to existing software suites.
The global composite simulation software market is segmented into end-use industry type as Aerospace & Defense, Transportation, Building & Construction, Wind Energy, Marine, and Others. The aerospace & defense industry is expected to remain the largest market for simulation software in the composites industry in the foreseen future. Composites are gaining ground on the major next-generation aircraft, such as B787, A350XWB, and A220. All the major aerospace and defense OEMs are searching out the possibility of using composites in most of the structural applications of their upcoming aircraft. This is driving the demand for efficient simulation software to minimize the risk of expensive product development.
There are broadly three types of simulation software used in the composites industry: Computer-Aided Design (CAD), Computer-Aided Engineering (CAE), and Computer-Aided Manufacturing (CAM). CAD and CAE software are the most widely used simulation software in the global composites industry and are expected to remain the major ones during the forecast period as well.
In terms of region, North America is expected to remain the largest market for composite simulation software over the next five years. The region is the world’s capital in terms of aerospace composites manufacturing with the presence of several aerospace OEMs and tier players. However, Asia-Pacific is likely to experience the highest growth in the demand for composite simulation software because of high growth of composites and a gradual shift of composites manufacturing from North America and Europe to the Asia-Pacific region.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2013-2024 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Size in 2024 |
US$ 80.7 million |
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Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, The UK, Russia, China, Japan, India, Latin America, The Middle East and others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The simulation software market in the composites industry is segmented into the following categories.
The supply chain of this market comprises software developers, designers, part molders, distributors, OEMs, and end users. The global composite simulation software market is highly consolidated with about a dozen players populated worldwide.
The key composite simulation software providers are-
New product development and execution of merger & acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This report on simulation software for composite applications, from Stratview Research, is the first of its kind and features deep-dive analysis and market insights on various segments and competitive landscapes with an aim to provide the market stakeholders the most well-versed resource for effective decision making as well as building profitable strategies on simulation software. The report provides detailed 11-year analysis for various market segments with the trend period of 2013 to 2018 and the forecast period of 2019-2024 at global as well as regional level. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The composite simulation software market size is expected to reach US$ 80.7 million in the foreseeable future.
Siemens AG, Autodesk Inc, Dassault Systemes, and Altair Engineering are among the key players in the composite simulation software market.
North America is expected to remain the largest composite simulation software market during the forecast period.
Asia-pacific is expected to experience the highest growth in the composite simulation software market in the coming years.
Aerospace & Defence industry is expected to remain the largest segment in the composite simulation software market in the coming years.
Increasing penetration of composites in various end-use industries including aerospace & defense and automotive; higher demand for automation and faster production process; and increasing demand for simulation software from design to production are the factors driving the growth of composite simulation software market.
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