Wind Tunnel Market Worth US$ 2.88 Billion by 2023

Wind tunnel market can be attributed to increase in electric vehicles and development of high speed aircrafts and missiles. Increased usage of CFD software, along with restriction imposed in various racing championships by FIA are expected to hinder market growth.

Pune, India – June 28, 2018 /MarketersMedia/ —

Wind tunnel market is estimated to be USD 2.61 billion in 2018 and is projected to reach USD 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 increased demand for UAVs from commercial and military sectors, development of new generation high-speed aircraft, railways, and missiles, and increased investments for development of autonomous electric vehicles across globe.

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Aerospace & defense segment expected to lead wind tunnel market during the forecast period. The growth of 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.

Target Audience for this Report:
• 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

Asia Pacific wind tunnel market is projected to grow at the highest rate from 2018 to 2023. Countries such as China, India, Japan, South Korea, Taiwan, and Australia are investing in indigenous development programs to manufacture various types of new and advanced aircraft for commercial and defense applications, along with the development of electric automotive vehicles. China has substantially increased its spending for the development of new and advanced systems for the aerospace & defense and automotive sectors.

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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%

Prominent players profiled in the wind tunnel testing services market include 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),among others. Some major manufacturers include Aerolab (US), Aiolos (Canada), Foran (Brazil), Aerodium Technologies (Latvia), and Skyventure (Canada) among others.

Connect for More Details for Discount and More Information “Wind Tunnel Market by Solution (Products, Services), Alignment (Horizontal, Vertical), Application (Aerospace & Defense, Transportation, Racing Championship, Construction, Adventure Skydiving, Simulation), Air Speed, and Region – Global Forecast to 2023” report at http://www.reportsnreports.com/contacts/discount.aspx?name=1516387 .

The study segments the wind tunnel market on the basis of application, solution, alignment, airspeed, and region. The report provides in-depth market intelligence regarding market dynamics and major factors that influence the growth of the global wind tunnel market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, prospects, and their contribution to the wind tunnel market.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on wind tunnels offered by the top players in the global wind tunnel market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the wind tunnel market
• Market Development: Comprehensive information about lucrative emerging markets
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global wind tunnel market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global wind tunnel market

Contact Info:
Name: Mr. Hrishikesh
Organization: ReportsandReports
Address: 2nd Floor, Metropole, Next to Inox Theatre, Bund Garden Road, Pune, Maharashtra, India
Phone: +1 888 391 5441

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Release ID: 368085