Wind Tunnel Market is expected to reach US$ 3,784.56 Million by 2028
Widespread adoption in aircraft development and growing prospectus in constructing green building are the key factors attributed to the growth of wind tunnel market. The wind tunnel-based model is used for testing and diagnostics to carry out a comprehensive analysis of the aerodynamics of the aircraft body by determining the air movement around or through the aircraft. It also helps to understand and determine the fundamental working of new aircraft designs. Testing a structure through a wind tunnel helps determine wind pressures on buildings, as it allows to take aerodynamic measurements simultaneously at numerous ports through current pressure measurement capabilities. Thus, such increasing demand of wind tunnel in aerospace and construction industry is augmenting the market dynamics over the forecast period.
Report Coverage Details
Market Size Value in US$ 2,706.26 Million in 2021
Market Size Value by US$ 3,784.56 Million by 2028
Growth rate CAGR of 4.9% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 174
No. Tables 115
No. of Charts & Figures 93
Historical data available Yes
Segments covered Solution, Alignment, Airspeed Type, and Application
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Wind Tunnel Market: Competitive Landscape and Key Developments
Aerolab; Aiolos; Boeing; ETW GmbH; Horiba Ltd.; Lockheed Martin Corporation; Mahle GmbH; Mitsubishi Heavy Industries, Ltd.; Rail Tec Arsenal; and RUAG are among key players profiled during the study of the Wind Tunnel market.
The Sample Pages Showcases Content Structure and Nature of Information Included in This Research Study Which Presents A Qualitative and Quantitative Analysis:
Electric cars play an increasingly important role in aerodynamics compared to ICE-based vehicles, as maximum energy used to accelerate or drive uphill can be recovered through energy recuperation. Electric passenger cars with floor batteries are designed with an empty front boot, optimized to capture wind energy and generate electricity. To address the energy recuperation requirements, automotive engineers perform an aerodynamic analysis of an electric passenger car using wind tunnels placed at the front. The initial aerodynamic analysis of a basic electric car model is based on the simulation created using wind tunnels and aerodynamic add-on-devices, such as sensors.
The rising concerns regarding the negative impact of the transportation sector on the environment and the shift in consumer inclination toward zero-emission vehicles led to a significant surge in the adoption of light-duty electric passenger vehicles in economies, such as the US, China, and the European countries (UK, Germany, and Russia). In 2021, the sales of electric vehicles surged by ~160% in these countries. China has the largest fleet of electric vehicles, with 4.5 million electric cars. The adoption of EVs has been the fastest in Europe, reaching 3.2 million electric passenger vehicles in 2021. Further, the demand for electric vehicles is driven by massive investments made by automotive giants in the research and development of electric vehicles. General Motors, Volkswagen, Volvo, BMW, Nissan, and Audi had confirmed the plan to invest ~US$ 150 billion collectively in manufacturing electric vehicles and launch new models during 2020-2021. The rapid adoption of electric vehicles worldwide is offering vast growth opportunities to wind tunnel market players due to their significance in EV design and production.
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Impact of COVID-19 Pandemic on Wind Tunnel Market
The COVID-19 outbreak had a drastically adverse impact on the world economy during its peak in 2020, and the crisis had a significantly negative impact on the automotive and aerospace industries. Before the COVID-19, the wind tunnel market was experiencing substantial growth due to the rising production of aircraft and automobiles. However, the outbreak of the virus led to a notable slowdown in the production activities of these industries deploying the wind tunnel market solutions. The various containment measures, such as lockdowns, business shutdown, and trade restrictions, negatively impacted the production and supply chain of the wind tunnel market until the second half of 2020 and during the second large outbreak in 2021.
As industrial activities picked pace from the last quarter of 2020, market players are experiencing steady growth in demand from end users. Moreover, the huge requirement of wind tunnels in building construction has created a stable demand for wind tunnels globally. The pandemic has invoked a need for high-quality wind tunnel solutions for electric vehicles as they play a crucial role in aerodynamics testing. Notably, the sales of electric vehicles have been increasing, especially in the US, China, and Europe, since the COVID-19 crisis. Although the global wind tunnel market plummeted initially due to the adverse impact of the pandemic and the related regulations, it is expected to gain strong recovery owing to the increasing requirement of wind tunnels across numerous end-use verticals.
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