Virtual Manufacturing: Scope, Socio-economic Aspects and Future Trends
Manufacturing environment encompasses a wide range of activities such as product, resources, process and plant and is an indispensable part of any economy. However, the requirement of flexible manufacturing system has been increasing rapidly because of the increasing complexity of the products and processes that have become highly sophisticated. The challenges can be well addressed through the virtual manufacturing environment. The present chapter aims to discuss the scope of the virtual manufacturing environment. The chapter also discusses on the socio-economic aspects of the virtual manufacturing technology. Finally the chapter discusses on the economic benefits of virtual manufacturing technology (VM). Chapter concludes with the discussion on the future trends in machine tool industry, automotive and aerospace industries.