Guided ultrasonic waves are suitable for use in the context of structural health monitoring of thin-walled, plate-like structures. Hence, observing the wave propagation in the plates can provide an indication of whether damage has occurred in the structure. In this work, the wave propagation in fiber metal laminate consisting of thin steel foils and layers of carbon fiber-reinforced polymer is studied, focusing on the main propagation characteristics like dispersion diagrams and displacement fields. For this purpose, the dispersion diagrams derived from the analytical framework and numerical simulations are first determined and compared to each other. Next, the displacement fields are computed using the global matrix method for two excitation frequencies. The results derived from the analytical framework is used to validate numerically determined displacement fields based on a 2D and a 3D modeling approach. For both investigations the results of the analytical treatment and the numerical simulation show good agreement. Furthermore, the displacement field reveals the typical and well-known characteristics of the propagation of guided waves in thin-walled structures. Since the use of full 3D models involves a very high computational cost, this work also successfully investigates the possibility for model order reduction to decrease the computational time and costs of the simulation without the loss of accuracy.