A considerable increase in the demand for the use of finite element analysis in product design is predicted for the coming years. It’s no wonder, considering that the benefits of using finite element analysis (FEA) include:
- Improved efficiency and productivity
- Reduced product development time
- Improved design optimization
- Faster marketing times
- Reduced product recall concerns
- Eliminated need for multiple prototypes
Recently, market research firm Technavio predicted that the global FEA market will grow steadily at a compound annual growth rate of more than 13% by 2020.
Finite element analysis is a computerized method that improves the way new and complex designs are made. FEA predicts how metals are affected by outside forces such as stress, strain and thinning. It is used to estimate the structural strength and performance of a product. For further description of FEA and a real-world example of its use in metal stage support production, look to our June 30 blog post, Finite Element Analysis: One Concept Fledgling Firms Shouldn’t Overlook.
FEA is used in many manufacturing processes including those in the automotive, aerospace, and electronics industries. Technavio reported the automotive industry accounted for 34% of the total FEA market shares during 2015.
Technavio’s analysis identified the need for improved efficiency as one of the primary growth factors in the FEA market. Product design time is reduced by using FEA, and so are operational costs. Fewer prototypes are needed, allowing for faster marketing time, which improves overall productivity. Because materials used to design parts are proven structurally sound through FEA, the need for costly multiple prototypes is eliminated. The chances of product recall are greatly reduced.
In hydroforming processes, the use of FEA results in products that are exceptionally lightweight and structurally strong. Contact us to discuss how our team of hydroforming technicians can use FEA to benefit your business.