‘Composite Simulation Software Market to become US$ 80.7 million opportunity in 2024’– Stratview Research Market Report

As per the latest market intelligence report published by Stratview Research, the Composite Simulation Software Market is anticipated to reach at US$ 80.7 million by 2024.

The research studies Composite Simulation Software Market in the trend period of 2012 to 2017 and forecasted period of 2019 to 2024 under three segments 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: 2019-2024

The study finds –
 The aerospace & defense industry is expected to remain the largest market for simulation software in the composites industry in the foreseen future.
 Transportation is expected to experience the highest growth in simulation software demand for composites over the next five years.
 North America is expected to remain the largest market for composite simulation software over the next five years.
Click here to read the detailed description https://www.stratviewresearch.com/185/composite-simulation-software-market.html

Go through the TOC: https://www.stratviewresearch.com/toc/185/composite-simulation-software-market.html

Simulation Software Market in the Composites Industry: Highlights

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.

Request free sample here- https://www.stratviewresearch.com/Request-Sample/185/composite-simulation-software-market.html
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.

Transportation is expected to experience the highest growth in simulation software demand for composites over the next five years. Increasing the use of composites in the structural applications of electric vehicles and premium vehicles is driving the demand for simulation software. All the major simulation software providers for the 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 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.

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 Siemens AG, Autodesk Inc, Dassault Systemes, and Altair Engineering. 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.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of Composite Simulation Software Market. The key features of the report are -
 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
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through the reports:

Click Here for Other Reports from Stratview Research in the Advanced Material Industry: https://www.stratviewresearch.com/market-reports/Advanced-Materials.html

Stratview Research is a global market intelligence firm offering a wivde range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

We have a strong experienced team of industry veterans and research analysts with a perfect blend of wisdom, knowledge and attitude. We have been serving multiple clients across a wide array of industries.

400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America

This release was published on openPR.