|Title||Product Development Study of an Optical Measurement System (eduPIV)|
|Author||Peitersen, Mette (Copenhagen University College of Engineering, IHK)
Mellemgaard, Gitte (Copenhagen University College of Engineering, IHK)
Siegumfeldt, Karin (Copenhagen University College of Engineering, IHK)
|Institution||Ingeniørhøjskolen i København, IHK, DK-2750 Ballerup, Denmark|
|Thesis level||Bachelor thesis|
|Education||Bachelor of Engineering|
|Abstract||The objective of this product development study was to investigate the market potential for a low entry particle image velocimetry system, eduPIV, in India, to identify the camera and illumination components to be used in the eduPIV system, and to determine its respective financial feasibility.
A market potential for sale of eduPIV systems to the education sector in India has been established. With a potential market of 4080 institutions of higher technical education identified, the target customers are the 16 Indian Institutes of Technology, the 30 National Institutes of Technology, and other top engineering schools. End users would be professors and undergraduate students in mechanics labs, enabling Dantec Dynamics to tie in potential customers at an early stage.
Estimated sales for the year 2013 are five eduPIV systems worldwide, two of these systems possibly sold to India. Worldwide accumulated sales are expected to be 100 units over six years. Dantec Dynamics is estimated to have a 35-40% share of the market for imaging measurement systems and competes against two other main players on the competitive arena, LaVision GmbH and TSI Inc. Other competitors known to offer a low entry PIV system includes Measure Science Enterprises Inc., Interactive Flow Studies Corp., Oxford lasers Ltd., MicroVec Corp., and Tesscorn Ltd. The strength of the competition lies in their mutual partnerships and offering of customer support.
In regards to the technical aspect, the choice of components should be synonymous with an affordable and simple system. The illumination source to be used should be the Raypower 450 CW laser from Dantec Dynamics’ existing supplier CNI Ltd. The camera to be used should be the time resolved Bobcat 8 Bit GigE Vision Camera from supplier Imperx Inc. Laser safety is an important factor to be considered in choice of illumination. As competitors are offering LED-based solutions and other system options, it is suggested that Dantec Dynamics consider developing an LED-based eduPIV system. This could potentially be done through the appropriate partnership.
Financially, system cost is calculated to be 36,000 DKK and sales price to distributor is set at 60,000 DKK. This gives a 40% contribution margin. Return on investment is calculated at after sale of five units, given a contribution pr. unit of 24,000 DKK. This would occur after one year looking at worldwide estimated sales, looking solely at estimated sales to India, return on investment would be after two-three years. The eduPIV project is thus deemed to be financially feasible. Furthermore, pricing strategy sets the recommended sales price for the distributor to the customer at 75,000 DKK.
Overall, it is recommended that Dantec Dynamics enter the Indian market with the specified eduPIV system using the given relationship marking strategy and pricing strategy.
|External partner||Ledere og medarbejdere i private virksomheder|
|Admin||Creation date: 2012-12-16 Update date: 2013-10-22 Source: ihk ID: ihk-12650138 Original MXD|