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The Wind Tunnel Market is estimated to be US$ 2.61 Billion in 2018 and is projected to reach US$ 2.88 Billion by 2023, at a CAGR of 2.01% between 2018 and 2023. The growth of the wind tunnel market can be attributed to the increased demand for UAVs from the commercial and military sectors, development of new generation high-speed aircraft, railways, and missiles, and increased investments for the development of autonomous electric vehicles across the globe.
The Research Methodology used to estimate and forecast the wind tunnel market begins with capturing data on wind tunnel products and services revenues through secondary sources, such as National Aeronautics and Space Administration (NASA), American Institute of Aeronautics and Astronautics (AIAA), Fédération Internationale de l'Automobile (FIA), Library of Congress, Indoor Skydiving Source (ISS), journals, and paid databases. Wind tunnel services are also taken into consideration to determine the market segmentation.
The Aerospace & Defense segment expected to lead the wind tunnel market during the forecast period. The growth of the aerospace & defense application segment of the wind tunnel market can be attributed to the increased use of wind tunnels for testing aircraft used for aerospace & defense application as these aircraft are generally exposed to critical climatic conditions.
“Europe is expected to lead the wind tunnel market, whereas Asia Pacific is projected to grow at the highest rate during the forecast period”
Europe is expected to lead the wind tunnel market during the forecast period. The growth of the Europe wind tunnel market can be attributed to increased investments in R&D activities for the development of new and advanced systems for the aerospace sector, which, in turn, leads to their testing using wind tunnels. Moreover, the key automobile manufacturers have their design centers located in the European region, which further leads to the increased use of wind tunnels for testing new automobiles designed.
Break-up of profile of primary participants for this report:
• By Company Type: Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
• By Designation: C level – 35%, Director level – 25%, Others – 40%
• By Region: North America - 30%, Europe – 20%, Asia Pacific – 30%,RoW – 20%
Top Companies in the Wind Tunnel Market include are NASA (US), Boeing (US), Lockheed Martin (US), ETW (Europe), CSTB (France), FKFS (Germany), DNW (Netherlands), RTA (Austria), Mitsubishi Heavy Industries (Japan), Horiba (Japan), BMT (UK), FORCE Technology (Denmark), and Aerodyn Wind Tunnel (US).
Target Audience for Wind Tunnel Market: Manufacturers of Wind Tunnels, Aerospace Component Manufacturers, Automobile Manufacturers, Racing Championship Teams, Aviation Research Institutes and Universities, Skydiving Institutes, Computational Fluid Dynamics Software Providers, Sub-component Manufacturers, Original Equipment Manufacturers, Component Suppliers.
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Competitive Landscape of Wind Tunnel Market
1 Introduction
2 Rank Analysis of the Wind Tunnel Market, 2017
3 Key Players in the Wind Tunnel Market, By Region, 2017
4 Competitive Situation and Trends
4.1 Contracts
4.2 New Product Launches
4.3 Partnerships, Collaborations, and Agreements
4.4 Acquisitions
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Release ID: 499952
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