Growth of the CAD Market in the Aerospace and Defense Sector in North America negatively affected by Defense Budget cuts

Growth of the CAD Market in the Aerospace and Defense Sector in North America negatively affected by Defense Budget cuts

Fast Market Research announces the availability of Technavio's new report "CAD Market in the Aerospace and Defense Sector in North America 2015-2019" on their comprehensive research portal.

CAD is an effective and efficient tool for modeling and designing products and components with ease and accuracy. These solutions enable end-users to digitally prototype their products before production. They help engineers, architects, and other design professionals draft industry-specific products to enhance the development of products. CAD solutions are widely adopted by several industries such as automotive, aerospace and defense, industrial machinery, electrical and electronics, and others. These solutions enable end-users to digitally prototype their products before production.

Technavio's analysts forecast the CAD market in the aerospace and defense sector in North America to grow at a CAGR of 4.2% over the period 2014-2019.

Get More Details on this Report and a Full Table of Contents at CAD Market in the Aerospace and Defense Sector in North America 2015-2019

Commenting on the report, an analyst from Technavio’s team said: “Large number of international as well as regional vendors operate in the market. Autodesk, Dassault Systèmes, PTC, and Siemens PLM Software are the major vendors in the market. The companies have formulated a series of business stratagems to achieve consolidation and realize more revenue. For instance, Autodesk has formulated three business strategies to boost its market in North America as well as globally: Grow, transform, and expand. Dassault Systèmes, another key global player, uses M&A with local vendors as its strategy to increase its market share in North America.”

According to the report, the market can be classified into two product segments: 2D CAD and 3D CAD. The reduction in design time with the adoption of 3D CAD has contributed to the growth of the 3D CAD segment. Apart from that, the fact that 3D CAD increases productivity, minimizes drawing and structural errors, improves product quality, and establishes effective communication between designers, engineers, customers and suppliers has also boosted the growth of the market. Companies such as Dart Aerospace have been able to achieve close to 50% reduction in design time with the use of 3D SolidWorks in product design.

Further, the report states that reduction in US Defense Budget is inhibiting the market growth.

The key players in the CAD Market in the Aerospace and Defense Sector in North America are Autodesk, Dassault Systèmes, PTC and Siemens PLM Software while other prominent vendors include 3D Systems, BobCAD-CAM, IMSI/Design, IronCAD, Mentor Graphics, OnShape, Oracle and Robert McNeel & Associates

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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