A DWG file is a database of 2D or 3D drawings created with AutoCAD. It contains vector image data and metadata describing the contents of the file. DWG files are related to .DXF files, which are ASCII versions of DWG files.
PAR is a CAD format that generates 3D object layouts. Solid Edge, a 3D CAD system from Siemens Digital Industries Software, uses the .par extension for its part files, including their geometric forms, appearance, and structural elements.
The PAR file can be combined with other Solid Edge parts to a single assembly (ASM file).
A CAD file is an output of a CAD software, containing key information about the designed object: its geometry and topology representation, 3D model hierarchy, metadata, and visual attributes depending on the format of the file.
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