The computer numerical control global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Computer Numerical Control Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The computer numerical control market size has grown strongly in recent years. It will grow from <b>$16.27 billion in 2023 to $17.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to manufacturing automation, advancements in precision manufacturing, complex component production, reduction in production time, increased customization demands, cost savings in mass production.
The computer numerical control market size is expected to see strong growth in the next few years. It will grow to <b>$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.
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Scope Of Computer Numerical Control Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Computer Numerical Control Market Overview
Market Drivers –
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.
Market Trends –
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.
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
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Regional Insights –
Asia-Pacific was the largest region in the computer numerical control market share in 2023. Europe was the second-largest region in the computer numerical control market. The regions covered in the computer numerical control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Computer Numerical Control Market Characteristics
3. Computer Numerical Control Market Trends And Strategies
4. Computer Numerical Control Market – Macro Economic Scenario
5. Global Computer Numerical Control Market Size and Growth
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31. Global Computer Numerical Control Market Competitive Benchmarking
32. Global Computer Numerical Control Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Computer Numerical Control Market
34. Computer Numerical Control Market Future Outlook and Potential Analysis
35. Appendix
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