Stratview Research announces the addition of a new market research report on Global Composite Simulation Software Market by Software Type (Computer Assisted Design, Computer Added Engineering, and Computer Added 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: 2017 – 2022.
This market report from Stratview Research studies the composite simulation software market over the period 2011 to 2022. The research 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.
The Global Composite Simulation Software Market: Highlights
As per Stratview Research, the global composite simulation software market offers an excellent growth of 8.5% CAGR during the forecast period of 2017 to 2022, which offers an opportunity to the software and IT industry players to align themselves with the market growth.
There are several factors bolstering the growth of simulation software in the global composites industry. The author of the report cited organic growth of composites industry, high demand of automation and faster production processes, and increasing demand of simulation software from design to production as the major growth drivers of the market.
Aerospace and defense industry is expected to remain the largest market for simulation software in the composites industry. Composites are gaining ground on major next generation aircraft, such as B787, A350XWB, and C Series. All 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 of efficient simulation software to minimize the risk of expensive product development.
Transportation is expected to experience the fastest growth in simulation software demand for composites over the next five years. Increasing use of composites in the structural applications of electric vehicles and premium vehicles are driving the demand of simulation software. All major simulation software providers for composites industry are heavily targeting the transportation industry to tap the growing market potential.
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 fastest 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 a highly consolidated with about a dozen players populated worldwide. The key composite simulation software providers are Siemens AG, Autodesk Inc, Dassault Systemes, and Altair Engineering. New product development and merger & acquisitions are the key strategies adopted by the key players to gain competitive edge in the market.
This industry research report from Stratview Research provides market intelligence in the most comprehensive manner. 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 research report:
Avail free customization options which are listed in the link given below along with the detailed Table of Contents and Report Description.
Free customization options for market research report on global composite simulation software market
About Stratview Research
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