Hardware in the Loop Market by Type, Vertical and Region - Global Forecast to 2027 - ResearchAndMarkets.com

The "Global Hardware in the Loop Market by Type (Open Loop, Closed Loop), Vertical (Automobile, Aerospace, Defense, Power Electronics, Research & Education) and Region (North America, APAC, Europe, Rest of the World) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The hardware in the loop market size is estimated to be valued at USD 817 million in 2022 and is projected to reach USD 1,291 million by 2027, growing at a CAGR of 9.6% from 2022 to 2027.

Many industries such as automobile, aerospace, defense, semiconductor, and energy are continuously working on reducing the time period utilized in product development stages where electronic controls are a crucial part of the product. Model-based design techniques such as V-cycle are implemented by companies to speed up the development of control systems during the development phase of a product. Hardware in the loop is used in the last stage of the V-cycle product development of control systems.

In aircraft, complex electromechanical systems such as propulsion control systems, avionics, and flight control systems have electronic controllers and mechanical components. With the advancement in these systems, their complexity also increases, which requires rigorous testing, thus increasing the product development time. Hardware in the loop testing provides benefits such as early testing using a virtual environment and system simulations; this allows testing of the controllers and components, which can be tested in tandem with the product development phase. This reduces the time duration of the testing and development phases.

Closed Loop: The fastest type in hardware in the loop market

Closed loop testing is done on controllers that have a feedback loop. It is important to correct any error or drift in the output of the machine as the controller will receive a signal from the actuator or sensor. Hardware in the loop test system can mimic this functionality by utilizing a physics or mathematical model for simulating the machine, system, or plant. This will ensure the controller is operating in the desired state to achieve the output and is correcting any error in the output. The rising implementation of autonomous driving and ADAS across the automotive sector is expected to boost the demand for closed loop hardware in the loop systems in the future

Power electronics: Fastest vertical of hardware in the loop market

Hardware in the loop testing helps in testing power electronic devices, such as electric motors and converters, by simulating the load connected to it; this helps in faster and reliable testing of these devices.LS Electric, a South Korean company providing power electronics solutions, used Typhoon HIL system to resolve some of the control engineering problems.

The company faced the challenge of setting up a strong controller design for 15 Power Electronic Building Block (PEBB), with verification for parallel operations and communication performance. Using Typhoon HIL solution's real-time verification on a microsecond time-step scale, it was able to verify its high-speed controller for multiple PEBB operations with the aim of increasing the efficiency, reliability, and longevity of the system.

US: The highest market share in North American hardware in the loop market

The US has the largest aerospace market. Hardware in the loop testing is widely adopted by the manufacturers and suppliers of aerospace equipment in the country. General Electric, Lockheed Martin, Boeing, SpaceX, and Blue Origin are some of the prominent players in the aerospace and defense industries. The power electronics sector is strong in the country, with major manufacturers such as Texas Instruments, Magna Power Electronics, and Colorado Power Electronics catering to the power grid, power generation, and distribution applications in the US.

Market Dynamics

Drivers

• Technological Advancements in Electric and Autonomous Vehicles
• Faster Product Development with Early Stages of Testing Using Hardware in the Loop
• Growing Demand in Developing Countries

Restraints

• High Cost of Ownership and Technical Complexity in Implementation

Opportunities

• Adoption in New Application Areas Such as Power Electronics and Industrial Robotics

Challenges

• Complexity in Creating Real-Time Simulation
• Reluctance to Invest

Companies Mentioned

• Acutronic
• Add2 Limited
• Applus+
• Bloomy Controls
• Bluehalo
• Bosch
• Controllab
• Dspace
• Elektrobit Automotive
• Genuen
• Ipg Automotive
• Konrad Technologies
• Lhp Engineering Solution
• Micronova
• Modelingtech
• National Instruments
• Opal-Rt Technologies
• Pickering Interfaces
• Plexim
• Siemens
• Speedgoat
• Spirent Communications
• Typhoon Hil
• Uav Navigation
• Vector Informatik

For more information about this report visit https://www.researchandmarkets.com/r/9cb0fg

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