Unveiling the next frontier of engineering simulation

Alessandro Faure Ragani

Senior Expert

McKinsey & Company

(This has been a keynote presentation at the NAFEMS World Congress 2023.)

Product development is an essential part of economic growth and social progress. Big industries, including automotive, aerospace and defense, telecommunications, medical devices, and consumer products, expect a third of their sales to come from new products. Over the next five years, that means $30 trillion in revenues depend upon successful product development projects in those sectors.

With so much value at stake, advanced product development capabilities are a key strategic priority for companies. And those capabilities increasingly depend upon access to sophisticated digital technologies, along with the skills, processes and organizational structures to use them effectively…