The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Composite Simulation Software Market.

It was estimated prior to this unanticipated outbreak that the Composite Simulation Software Market to reach US$ 80.7 million in 2024. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

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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.

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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 high growth in simulation software demand for composites over the next five years. 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 high 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.

Key Players:

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.

Features of the Report

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.

The Composite Simulation Software Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• 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 

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