DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Composite Simulation Software Market - 2017 to 2022" report to their offering.
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.
This report 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.
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.
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.
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 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 a competitive edge in the market.
Key Topics Covered:
1. Executive Summary
2. Composite Simulation Software Overview and Market Forces
3. Global Composite Simulation Software Market - By Software Type
4. Global Composite Simulation Software Market - By End-Use Industry Type
5. Global Composite Simulation Software Market - By Region
6. Competitive Analysis
7. Strategic Growth Opportunities
8. Company Profile of Key Players
- Altair Engineering, Inc
- Autodesk, Inc.
- Dassault Systemes
- ESI Group
- e-Xstream engineering
- Siemens AG
For more information about this report visit http://www.researchandmarkets.com/research/nrfn3t/global_composite