Global 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: 2017 – 2022
This report, from Stratview Research, studies the simulation software market in the global composites industry over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.
The Global Simulation Software Market in the Composites Industry: Highlights
The global composite simulation software market was valued at US$ 43.6 million in 2016 and is projected to grow at an impressive CAGR of 8.5% over the next five years and reach US$ 71.4 million in 2022. Organic growth of composites industry, high 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.
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 a right combination of different materials and processes at 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.
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 for an 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 for simulation software. All major simulation software providers for composites industry are heavily targeting the transportation industry to tap the growing market potential.
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 software is the most used simulation software in the global composites industry and is expected to remain largest during the forecast period as well.
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 fastest 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.
The supply chain of this market comprises software developers, designers, part molders, distributors, OEMs, and end users. 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, ESI Group, Ansys Inc. and Altair Engineering. New product development and merger & acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.
This report offers high-quality insights and is 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. More than 300 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. More than 8 detailed primary interviews with the market players across the value chain in all four regions and with industry experts have been executed to obtain both qualitative and quantitative insights.
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 into 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:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors
The simulation software market in the composites industry is segmented into the following categories:
Global Composite Simulation Software Market by Software Type:
Computer Aided Design (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Computer Aided Engineering (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Computer Aided Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Composite Simulation Software Market by Composites End-Use Industry Type:
Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Marine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Composite Simulation Software Market by Region:
North America (Country Analysis: US, Canada, and Mexico)
Europe (Country Analysis: Germany, France, United Kingdom, Russia, and Rest of the Europe)
Asia-Pacific (Country Analysis: China, Japan, India, and Rest of the Asia-Pacific)
Rest of the World (Country Analysis: Latin America, Middle East, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Detailed profiling of additional market players (up to 3)
SWOT analysis of key players (up to 3)
Current market segmentation of any one of the software type by end-use industry
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across sectors. .
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