Wind Tunnel Market is expected to grow at a CAGR of 3.2% during the next five years, according to a newly added report by Stratview Research. The growth of this market can be attributed to the progress of innovative generation of supersonic and hypersonic aircraft and missiles across the globe.
The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in five ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2020-2025.
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As per the report, among different solution types, the services segment led the market in 2018, and is expected to remain dominant during the forecast period. The growth of this segment is owing to the abated Operation & Maintenance (O&M) expenses of wind tunnels and easy obtainability of technical knowhow to carry out their installation and maintenance.
Based on the airspeed type, the market is segmented as subsonic, transonic, supersonic, and hypersonic. The subsonic segment remained dominant in 2018, and is expected to lead the market during the forecast period. This segment is primarily propelled by the demand for commercial aircraft and automotive testing services. Subsonic wind tunnels are also employed in racing championship aerodynamic testing.
Based on the alignment type, the market is segmented as horizontal and vertical. The horizontal segment led the market in 2018, and is estimated to govern the market in the coming five years. Horizontal wind tunnels comprise aeroacoustics, aerodynamic, and climatic wind tunnels employed in different industries, such as aerospace & defense, racing championship, transportation, and building construction & wind energy.
Based on the application type, the market is segmented as aerospace & defense, transportation, racing championship, building construction & wind energy, adventure sports skydiving, and training & simulation. The aerospace & defense application segment commanded the market in 2018, and is expected to continue its dominance during the forecast period. The growth of this segment can be credited to the enhanced use of wind tunnels for testing aircraft used for aerospace & defense application as these aircraft are generally vulnerable to severe environmental conditions.
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In terms of regions, the Asia-Pacific’s wind tunnel market is estimated to register the highest growth in the coming five years. Countries such as China, India, Japan, South Korea, Taiwan, and Australia are the growth engines of the region as they are enormously investing in indigenous development programs to engineer different types of new and innovative aircraft for commercial and defense applications, coupled with the advancement of electric automotive vehicles. China has considerably augmented its expenditure for the evolution of new and advanced systems for the aerospace & defense and automotive industries. This, in turn, is anticipated to stimulate the growing demand for wind tunnels and wind tunnel testing services in the region. Further, countries such as Japan, India, and South Korea are also heavily spending for the development of rail, automotive, and marine infrastructures, which demand for wind tunnel testing applications.
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The report further mentions about the key players Auto Research Center (ARC), Aerodium Technologies, Boeing Company, Centre Scientifique ET Technique Du Bâtiment (CSTB), Calspan Corporation, European Transonic Windtunnel (ETW), Forschungsinstitut Für Kraftfahrwesen Und Fahrzeugmotoren Stuttgart (FKFS), Lockheed Martin, Mitsubishi Heavy Industries, and Ruag Group. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the wind tunnel market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.
Salient Features of the Report
The report on wind tunnel market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
- Market structure,
- Market environment analysis,
- Market trend and forecast analysis,
- Market segment trend and forecast,
- Competitive landscape and dynamics,
- Attractive market segments and associated growth opportunities,
- Emerging trends,
- Strategic growth opportunities for the existing and new players,
- Key success factors
About Stratview Research:
Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it.
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