Press release
Computer Numerical Control Size, Analysis, Trends Report 2024 To 2033
The computer numerical control market size is expected to see strong growth in the next few years. It will grow to $22.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to integration with industry, rise of additive manufacturing, increased use in small and medium enterprises (smes), focus on sustainability, enhanced software capabilities, demand in healthcare and biotechnology. Major trends in the forecast period include energy efficient solutions, miniaturization and micro-machining, integration of internet of things (iot), customization for small-batch production, shift towards open-source cnc systems.
Market Overview -
Computer numerical control (CNC) refers to a computer-assisted, highly accurate manufacturing process in which controlled machining is automated using pre-programmed CAD (computer-aided design) software, which does not require an operator. The fundamental benefit of CNC machines is their ability to run unattended throughout the manufacturing and machining cycles, letting the operator perform other work elsewhere.
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Rising Adoption Of Electric Vehicles To Drive Market Growth
The increasing demand for electric vehicles is expected to propel the demand for the computer numerical control market going forward. An electric vehicle (EV) is a vehicle that runs on an electric motor using electricity rather than an internal-combustion engine and generates power by burning a mixture of gasoline and gases. Computer numerical control technology is required for the automated and bulk manufacture of electric vehicles minimizing costs for producers. For instance, in May 2022, according to the Global Electric Vehicle Outlook report by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, the sales of electric cars increased by two times in 2021 to 6.6 million. In addition, the sales grew in 2022 with 2 million electric cars sold globally in the first quarter. Thus, the increasing demand for electric vehicles will drive the computer numerical control market.
Competitive Landscape -
Major companies operating in the computer numerical control market report are Airbus SAS, Safran SA, Honeywell International Inc., Teledyne Technologies Inc., The Boeing Company, General Electric Company, Rolls-Royce Holdings plc, Flyth Aerospace Solutions Ltd., Raytheon Technologies Corporation, Curtiss-Wright Corporation, RSL Electronics Ltd., Deutsche Lufthansa AG, Acellent Technologies Inc., Societe Internationale de Telecommunications Aeronautiques, Embraer SA, AMETEK Inc., Tech Mahindra Limited, Ventura Aerospace Inc., Meggitt plc, Lufthansa Technik AG, FLYHT Aerospace Solutions Ltd., Esterline Technologies Corporation, Ultra Electronics Holdings plc, Thales Group, BAE Systems plc, Moog Inc., SKF AB, LORD Corporation, Goodrich Corporation, Eaton Corporation
Product Innovations Transforming The Computer Numerical Control Market
Major companies operating in the computer numerical control market are developing new machines with up to one nanometre axis resolution to gain a competitive edge in the market. Axis resolution refers to the smallest incremental movement or measurement that can be detected or achieved along an axis, typically in a mechanical or electronic system. For instance, in December 2022, ANCA CNC Machines, an Australia-based machinery manufacturing company launched the MX7 ULTRA, a premium machine designed for manufacturing cutting tools with the highest accuracy and quality. The MX7 ULTRA features nanometre axis resolution, ensuring less than +/- 0.002mm line form accuracy for various profiles, including ballnose and corner radius endmills. With new software, hardware, and design features, the machine delivers significant improvements in surface finish, accuracy, and controlled runout, providing batch consistency from the first ground tool to the thousandth. The machine also includes features like in-process measuring, balancing, runout compensation, and Motor Temperature Control (MTC) for thermal expansion compensation.
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Key Segments -
The computer numerical control market covered in this report is segmented -
1) By Type: Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, Other Types
2) By Product Type: Software, Solutions
3) By End Use Industry: Aerospace And Defense, Automobile, Electronics, Healthcare, Other End Use Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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