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Altair Engineering Inc ALTR

Technology Software - Application

Altair Engineering Inc. is a computational science and artificial intelligence company. It provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics and artificial intelligence (AI). It operates through two segments: Software and Client Engineering Services. Software segment includes software, software services, and software-related services. The software component of this segment includes its portfolio of software products, including its solvers and optimization technology products, HPC software applications and hardware products, modeling and visualization tools, data analytics and analysis products. Client Engineering Services segment provides client engineering services to support its customers with long-term, ongoing expertise. Its solution, FlightStream, provides computational fluid dynamics (CFD) software with a footprint in the aerospace and defense sectors. It also offers strategic consulting and training in AI and data analytics.

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Altair Engineering Inc

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Post by ivosmithon Dec 15, 2023 5:44am

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Post# 35786143

Aerospace Engineering Services Outsourcing Market Outlook

According to the latest research report, the global aerospace engineering services outsourcing market size reached US$ 77.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 256.6 Billion by 2028, exhibiting a growth rate (CAGR) of 22.1% during 2023-2028.

The increasing complexity of aerospace technologies, driven by advancements in areas such as avionics, materials science, and propulsion systems, contributes to the market's growth. Additionally, aerospace companies often lack in-house resources with the specialized expertise required to comprehensively address these complexities.

Consequently, outsourcing engineering services provides a strategic solution for accessing external knowledge and skills. Moreover, outsourcing partners bring domain-specific proficiency crucial for designing, testing, and validating intricate aerospace components and systems. Furthermore, aerospace firms can ensure the development of these solutions while maintaining a competitive edge in the market through collaboration with specialized providers.

Explore full report with Table of Contents: https://www.imarcgroup.com/aerospace-engineering-services-outsourcing-market