Research and Markets has announced the addition of the "Global CFD Market in the Aerospace and Defense Industry 2012-2016" report to their offering.
The analysts forecast the Global CFD market in Aerospace and Defense industry to grow at a CAGR of 13.70 percent over the period 2012-2016. One of the key factors contributing to this market growth is the advantages of using CFD tools compared to traditional methods. The Global CFD market in the Aerospace and Defense industry has also been witnessing the increasing demand from integrated software. However, the increasing threat of open-source CFD could pose a challenge to the growth of this market.
The key vendors dominating this market space are Ansys Inc., CD-adapco Ltd, ESI Group SA and, Mentor Graphics Corp.
Other vendors mentioned in the report are Autodesk, Inc., Dassault Systèmes SA, EXA Corp., Bentley Systems Inc., Blue Ridge Numerics Inc. (Autodesk Inc.), Computational Engineering International (CEI) Inc., Numeca International Inc. and Flow Science Inc.
Commenting on the report, an analyst from TechNavio's team said: Some of the large PLM and CFD vendors have started providing integrated CFD software with several other PLM tools to improve both the efficiency and the effectiveness of the product development cycles. Many customers prefer this integrated software as it reduces the product development cycle time and increases its efficiency simultaneously. As such, vendors are developing integrated CFD software with CAD software. The integration of CFD and CAD solutions enables engineers to work on a single geometry, so the changes made in one application would be directly updated in the other. This eliminates the data transfer gap between CFD and CAD applications, thereby increasing the efficiency of the product development cycle.
According to the report, one of the major drivers in the market is the advantage of CFD tools over traditional testing methods. The usage of CFD has various advantages over traditional testing such as wind tunnel testing.
Further, the report states that one of the major challenges in the market is the increasing popularity of open-source CFD software. Many commercial users are adopting open-source CFD software rather than investing the money in commercial licenses.
For more information visit http://www.researchandmarkets.com/research/2gfh7h/global_cfd_market
Source: http://www.researchandmarkets.com/