Composite materials are far more complex and variable than metals due to 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 instance. Also, there is a big push on the manufacturing side to streamline automation and produce high-quality composite parts faster. Simulation software helps composite stakeholders in the designing, development, and production of composite parts more efficiently.

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. As per Stratview Research, the global composite simulation software market offers an impressive growth during the forecast period and reach US$ 76.8 million in 2023, which offers an opportunity to the industry players to align themselves with the market growth. Increasing penetration of composites in various end-use industries such as aerospace & defense and automotive, higher demand for automation and faster production processes, and increasing demand for simulation software from design to production are some of the major growth drivers of the market.

Aerospace & defense industry is expected to remain the largest market for simulation software in the composites industry. All major aerospace and defense OEMs are searching out the possibility of using composites in most of the structural applications of their upcoming aircraft, thus driving the demand for efficient simulation software to minimize the risk of expensive product development. Transportation industry is expected to offer the highest growth in simulation software demand for composites over the next five years, driven by increasing use of composites in the structural applications of electric vehicles and premium vehicles. All major simulation software companies in the composites industry are heavily targeting the transportation industry to tap the growing market potential.