The new report by EMR titled, ‘Global Computational Fluid Dynamics Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global computational fluid dynamics market, assessing the market based on its segments like deployment model, End Use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 2.26 billion
Forecast CAGR (2023-2028): 11.70%
Forecast Market Size (2028): USD 4.39 billion
The market’s expansion can be due to rapid technological advances in the aerospace and aeronautical industries. In the maintenance of various important aerospace components and parts, computational fluid dynamics is used.
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It is used to automate engine cooling and fuel delivery systems, for example. In the coming years, North America and Europe are expected to take the lead in global demand for computational fluid dynamics.
Industry Definition and Major Segments
Computational fluid dynamics, or CFD, is the computer-based simulation of processes involving fluid flow, heat transfer, and other related phenomena. It visualises the effect of a gas or liquid on a fast-flowing object using applied mathematics, physics, and computational tools.
CFD is a low-cost method of testing product prototypes before they are published. The aerospace industry has used CFD techniques in the design, R&D, and manufacturing of aircraft and jet engines since the 1960s.
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The market can be broadly categorised based on deployment model:
Cloud-Based
On-Premises
The market can be broadly categorised based on its end uses into:
Automotive
Aerospace and Defence
Electrical and Electronics
Industrial Machinery
Energy
Material and Chemical Processing
Others
The global regions for computational fluid dynamics market include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
Rapid advances in the automotive, aerospace, and aeronautical industries have contributed to the market’s rise. CFD is used to manage many important aircraft systems and components in these industries. Internal combustion engines, gas turbines, combustion chambers, and furnaces have all recently been developed using a range of methods.
Automobile manufacturers, on the other hand, are now using CFD to predict drag forces, low-coil air flows, and the in-car climate. It is used to improve engine cooling and fuel distribution systems, for example. Prior to their development and implementation, CFD can also predict the efficiency of new processes and designs.
Key Market Players
The major players in the market are Altair Engineering, Inc., ANSYS, Inc., Autodesk Inc., COMSOL AB., Hexagon AB, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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