Overview and Scope
Computer numerical control (CNC) refers to a computer-assisted, highly accurate manufacturing process in which controlled machining is automated using pre-programmed CAD (computer-aided design) software, which does not require an operator. The fundamental benefit of CNC machines is their ability to run unattended throughout the manufacturing and machining cycles, letting the operator perform other work elsewhere.
Sizing and Forecast
The computer numerical control market size has grown strongly in recent years. It will grow from $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 $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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The computer numerical control market report table of contents includes:
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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26. South America Computer Numerical Control Market
27. Brazil Computer Numerical Control Market
28. Middle East Computer Numerical Control Market
29. Africa Computer Numerical Control Market
30. Computer Numerical Control Market Competitive Landscape And Company Profiles
Top Major Players:
- Airbus SAS
- Safran SA
- Honeywell International Inc
- Teledyne Technologies Inc
- The Boeing Company
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