Stratview Research announces the launch of a new research report on Composite Simulation Software Market 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 (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the simulation software market in the global composites industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Simulation Software Market in the Global Composites Industry: Highlights
Composite materials are far more complex and variable than metals due to presence of many raw materials, intermediates, and manufacturing processes. It is not easy to produce a final part by developing a right combination of different materials and processes at the first instance. Also, there is a big push on the manufacturing side to streamline automation and produce high-quality composite parts faster. Simulation software helps composite stakeholders in the designing, development, and production of composite parts more efficiently.
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. As per Stratview Research, the global composite simulation software market offers an impressive growth during the forecast period and reach US$ 76.8 million in 2023, which offers an opportunity to the industry players to align themselves with the market growth. Increasing penetration of composites in various end-use industries such as aerospace & defense and automotive, higher demand for automation and faster production processes, and increasing demand for simulation software from design to production are some of the major growth drivers of the market.
Aerospace & defense industry is expected to remain the largest market for simulation software in the composites industry. All major aerospace and defense OEMs are searching out the possibility of using composites in most of the structural applications of their upcoming aircraft, thus driving the demand for efficient simulation software to minimize the risk of expensive product development. Transportation industry is expected to offer the highest growth in simulation software demand for composites over the next five years, driven by increasing use of composites in the structural applications of electric vehicles and premium vehicles. All major simulation software companies in the composites industry are heavily targeting the transportation industry to tap the growing market potential.
Amongst the three software types i.e. CAD, CAM and CAE; CAD is the most used simulation software in the global composites industry and is expected to remain so 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 presence of several aerospace OEMs and tier players. However, Asia-Pacific is likely to experience the highest growth in the demand of composite simulation software due to high growth of composites and a gradual shift of composites manufacturing from North America and Europe to the Asia-Pacific region.
The global composite simulation software market is highly consolidated with about a dozen players populated worldwide. The key players are Siemens AG, Autodesk Inc, Dassault Systemes, ESI Group and Altair Engineering. New product development and merger & acquisitions are the key strategies adopted by the major players to gain competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies global composite simulation software market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the three ways in which the market is segmented:
Composite Simulation Software Market by Software Type:
Composite Simulation Software Market by Composites End-Use Industry Type:
Composite Simulation Software Market by Region:
Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:
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About Stratview Research
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