Covina, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Wind tunnels are large tubes with inside moving air and are used to copy actions of an object in flight. Open return tunnel and closed return tunnel are different types of wind tunnel while, ‘Wind Cathedral’ aka S1MA has become the world’s biggest supersonic wind tunnel.
Wide variety of applications of wind tunnel in transportation, aerospace & defense, adventure skydiving, racing championship, simulation and construction has provided lucrative opportunities in target market growth. Further, rapidly growing industrialization and increased demand for wind tunnels in commercial aircraft and automotive testing is anticipated to increase the demand for Wind Tunnel market growth over the forecast period.
Wind Tunnel market accounted for US$ 2.8 billion in 2022 and is estimated to be US$ 3.6 billion by 2032 and is anticipated to register a CAGR of 2.7% .Wind Tunnel market has been segmented on the basis of By Airspeed, Alignment, Application, and region.
Key Highlights:
- In September 2023, BITS Pilani launched the India’s largest, most significant and cutting-edge wind tunnel facility which boasts the two distinct testing sections cater to wide range of research needs. The new launched wind tunnel are suitable for advancement in aerospace research by offering insights in dynamics of flight and aerodynamic testing for drones, aircraft, and other vehicles.
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Analyst View:
Rising expenditure in aerospace and defense industries from developed countries has fruitful the demand for target market growth. Rapidly growing industrialization and huge investment in development of autonomous electric vehicles is expected to increase the demand for Wind Tunnel market growth in future.
Here are some of the trends that are shaping the wind tunnel market:
- Increasing demand for wind tunnel testing: The demand for wind tunnel testing is increasing from various industries, such as aerospace and defense, automotive, construction, and renewable energy. This is driving the growth of the wind tunnel market.
- Development of new wind tunnel technologies: New wind tunnel technologies are being developed, such as cryogenic wind tunnels and hypersonic wind tunnels. These new technologies are enabling wind tunnel testing to be conducted on a wider range of objects and under more extreme conditions. This is boosting the growth of the wind tunnel market.
- Growing use of wind tunnel testing in developing countries: The use of wind tunnel testing is growing in developing countries, such as China and India. This is due to the increasing investment in these countries in the aerospace and defense and automotive industries. This is driving the growth of the wind tunnel market in developing countries.
The wind tunnel market is a growing and dynamic market. The key players in the market are focusing on developing innovative new products and services to meet the changing needs of consumers.
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The prominent player operating in the global wind tunnel market includes National Aeronautics and Space Administration, The Boeing Company, Lockheed Martin Corporation, Centre Scientifique et Technique du Bâtiment CSTB, Fkfs Forschungsinstitut Fur Kraftfahrwesen Und Fahrzeugmotoren Stuttgart Ggmbh, DNW German-dutch Wind Tunnels company, Mitsubishi Heavy Industries, Ltd., HORIBA, Ltd., BMT Group Limited, and Force Technology A/S.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Key Market Insights from the report:
- By airspeed, the global wind tunnel market is segmented into supersonic, transonic, subsonic, and hypersonic.
- By alignment, the global wind tunnel market is categorized into horizontal and vertical.
- By solution, the services segment is accounted for major revenue share in 2018, owing to easy availability of technical expertise to carry out their installation and maintenance in minimum cost.
- By application, the aerospace and defense segment is accounted for major revenue share in 2018, owing to increased use of wind tunnels for testing of critical climatic condition on aerospace and defense application.
- By region, North America wind tunnel market accounted for major revenue share of the global wind tunnel market and is further anticipated to maintain its dominance over the forecast period. This is owing to increasing investment in research and development of missiles and aircraft in defense sector, coupled with presence of prominent players in the countries of the North America region. Asia Pacific wind tunnel market is expected to grow at the highest rate during the forecast period, 2019. This is attributed to the development of electric automotive vehicles and development and manufacturing of various types of new and advanced aircraft for commercial and defense applications in countries of the Asia Pacific region.
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