LONDON–(BUSINESS WIRE)–According to the latest market study released by Technavio, the global computational fluid dynamics (CFD) market is expected to reach USD 1.82 billion by 2020, growing at a steady CAGR of nearly 9%.
Global CFD market is expected to reach USD 1.82 billion by 2020, growing at a steady CAGR of nearly 9%.
This research report titled ‘Global CFD Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report presents the vendor landscape and the corresponding detailed analysis of the major vendors in the market based on revenue. The report, also, considers the revenue obtained from the sales of software licenses.
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 computer-aided engineering (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.