Wind Tunnel Market set to grow at healthy CAGR of 4.9% by 2028

The Wind Tunnel Market is projected to reach US$ 3,784.56 million by 2028 from US$ 2,706.26 million in 2021. It is expected to grow at a CAGR of 4.9% from 2021 to 2028. A wind tunnel is composed of large tubes through which air is blown to replicate the interaction between air and a test object moving along the ground or flying through the air. Powerful fans generate and push air through the tube, and the test object is fastened in the tunnel to keep it stationary. The object's size can vary from a small vehicle or its piece to a full-size aircraft or spacecraft. Due to the accuracy and reliability of wind tunnel-based tests, these systems are used in industries such as aerospace and defense, automotive and transportation, and building and construction. In aircraft or spacecraft development, these systems allow engineers and designers to replicate the in-flight conditions affecting the forces and motions of the aircraft. NASA has deployed the highest number of wind tunnels than any other organization, as one of the agency's responsibilities is to improve air transportation.

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Wind Tunnel Market Company Profiles Analysis:

• Aerolab
• Aiolos
• Boeing
• ETW GmbH
• Horiba Ltd
• Lockheed Martin Corporation
• Mahle GmbH
• Mitsubishi Heavy Industries, Ltd
• Rail Tec Arsenal
• RUAG

Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Wind Tunnel Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

Market Segmentation:

By Solution (Products and Services), Alignment (Horizontal and Vertical), Airspeed Type (Subsonic, Supersonic, Transonic, and Hypersonic), and Application (Aerospace & Defense, Automotive & Transportation, Building Construction & Wind Energy, Training & Simulation, Adventure Sports Skydiving, and Others)

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Regional Framework

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Wind Tunnel Market based on various segments. It also provides market size and forecast estimates from the year 2022 to 2028 with respect to five major regions. The Wind Tunnel Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Market Insights - Wind Tunnel Market

Solution-Based Insights

Based on the solution, the wind tunnel market is bifurcated into services and products. The services segment is expected to continue its dominance during the forecast period. Wind tunnels' reduced operation & maintenance (O&M) costs and the easy availability of technical installation and maintenance drive the segment's growth.

Alignment Type-Based Insights

Based on the alignment type, the wind tunnel market is bifurcated into horizontal and vertical segments. The horizontal segment accounted for a larger market share in 2020 and is expected to continue its dominance for the next five years. Aeroacoustics, aerodynamic, and climatic horizontal wind tunnels are used in various industries, including aerospace and military, racing championships, transportation, building construction, and wind energy. The growing trend of adventure sports, the demand for vertical segment is also anticipated to flourish over the forecast period.

Airspeed Type-based Insights

Based on the airspeed type, the wind tunnel market is segmented into subsonic, transonic, supersonic, and hypersonic. The subsonic segment dominated the wind tunnel market in 2020 and is expected to continue its dominance during the forecast period. The rising demand for commercial aircraft and automotive testing services is the primary factor responsible for the growth of this segment.

Application-Based Insights

Based on application type, the wind tunnel market is segmented into aerospace & defense, automotive and transportation, building construction & wind energy, adventure sports skydiving, and training & simulation. The aerospace and defense application segment accounted for the largest market share in 2020 and is expected to continue its dominance during the forecast period. The increased usage of wind tunnels for testing aircraft used for aerospace and defense applications is a major factor responsible for the segment's growth.

Frequently Asked Questions

Can you list some of the major players operating in the global wind tunnel market?
In 2020, which region held the largest share of the global wind tunnel market?
Which alignment segment accounted for the largest share in the global wind tunnel market?
Which application segment is the fastest growing in the global wind tunnel market?
In 2020, which country held the largest market share in global wind tunnel market?

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