Technavio Announces the Publication of its Research Report Global CFD Market 2016-2020
Technavio recognizes the following companies as the key players in the global CFD market: ANSYS, CD-Adapco, and Mentor Graphics.
Other Prominent Vendors in the market are: Altair, Applied Math Modeling, Ceetron, Dassault Systèmes, ESI, Exa, FloSolve, NUMECA, Simerics, and Symscape.
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Commenting on the report, an analyst from Technavios team said: The aerospace and defense industry is the largest end-user in the global CFD market. One major trends in the industry is the emergence of many SMEs. Though their market sizes are smaller compared with larger companies, their achievements in the past two to three years has gained them a good position in the aerospace and defense industry.
According to the report, one of the key drivers for market growth will be need to reduce product development cycle time and cost. The aerospace and defense industry manufacturers are facing high pressure to reduce the product development cycle. CFD is mainly used in the second stage of the product development cycle. In the designing stage, the simulation and optimization processes are carried out using software such as CAE. CFD is a part of the CAE software. The designing stage is a vital stage in the product development life cycle as it can reduce the time and cost of production of aerospace and defense products. Hence, industries are highly dependent on the software to reduce product development cycle time.
Further, the report states that a major challenge faced by the global CFD market is the lack of knowledge and awareness among users about the difference between traditional and modern-day CFD software. The following are issues that CFD faced in the past. The latest versions of the software helped resolve the issues.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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CFD is a tool that analyzes the flow, turbulence, pressure distribution, and interaction of liquids and gases with structures. It is the science of predicting fluid flow, mass transfer, chemical reactions, and related phenomena. The CFD technology uses computers, computational methods, data of fluid viscosity, and fluid flow rates to simulate the flow of fluids. CFD is mostly used in the automotive, aerospace and defense, electronics and semiconductor, and energy industries for study related to thermal, acoustic, and air turbulence.
Technavios analysts forecast the global CFD market to grow at a CAGR of 9.56% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global CFD market for 2016-2020. The report presents the vendor landscape and the corresponding detailed analysis of the major vendors in the market based on revenue. The report considers the revenue obtained from the sales of software licenses.
The market is divided into the following segments based on geography:
Technavio’s report, Global CFD Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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