Wind Tunnel Market to Hit $ 3,784.56 Million by 2028 at 4.9% CAGR, Says The Insight Partners
According to The Insight Partners research reports on Wind Tunnel can help you gain crucial insights regarding the key drivers and market opportunities.
NEW YORK, UNITED STATES, November 24, 2022 /EINPresswire.com/ — According to our latest market study on “Wind Tunnel Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Solution, Alignment, Airspeed Type, and Application,” the 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.
Wind tunnels that simulate air movement around an in-flight aircraft are widely used in the aerospace industry. They allow aeronautical engineers to control the conditions affecting the forces and motion of the plane. The engineer can determine and analyze the magnitude of forces on a real full-size aircraft by recreating it on a scaled-down aircraft model. Further, the wind tunnel-based model can also be applied for testing and diagnostics to carry out a comprehensive analysis of the aerodynamics of the aircraft body by determining the air movement around or through the aircraft. Wind tunnels were primarily used to observe and determine the fundamental working of new aircraft designs, but the dominance of tube and wing design in the market has led to extensive use in the verification and certification processes. The dynamic nature of aeronautic research and more efficient integration with computational fluid dynamics (CFD) software contributes to the widespread use of wind tunnels.
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Companies Profiled in this report includes: Aerolab,Aiolos,Boeing,ETW GmbH,Horiba Ltd,Lockheed Martin Corporation,Mahle GmbH,Mitsubishi Heavy Industries, Ltd,Rail Tec Arsenal,RUAG
During 2020–2021, the aerospace industry witnessed a dramatic fall in aircraft production due to the COVID-19 pandemic. Major aircraft manufacturers experienced a gradual rise in demand with the resumption of air travel after the successful implementation and scale-up of vaccination programs. These developments triggered the production performances of prominent aircraft manufacturers, such as Boeing and Airbus. In 2021, Boeing delivered over 340 jetliners to airlines and other buyers, up from 157 in 2020. Further, Airbus delivered 611 passenger jets in 2021, with an 8% rise in 2020. Therefore, the gradually growing aerospace industry and the widespread use of wind tunnels in aircraft production bolsters market growth.
Wind Tunnel Market: Solution Overview
Based on solution, the wind tunnel market is segmented into products and services. In 2021, the services segment led the wind tunnel market and accounted for a larger market share. The reduced operation & maintenance (O&M) costs of wind tunnels, and the easy availability of technical installation and maintenance, are the primary factors driving the growth of the segment.
Impact of COVID-19 Pandemic on Wind Tunnel Market
The COVID-19 outbreak had a drastically adverse impact on the world economy during its peak in 2020, and the crisis had a significantly negative impact on the automotive and aerospace industries. Before the COVID–19, the wind tunnel market was experiencing substantial growth due to the rising production of aircraft and automobiles; however, the virus outbreak led to a notable slowdown in the production activities of these industries deploying the wind tunnel market solutions. The various containment measures, such as lockdowns, business shutdown, and trade restrictions, negatively impacted the production and supply chain of the wind tunnel market until the second half of 2020 and during the second large outbreak in 2021.
Wind Tunnel Market: Competitive Landscape and Key Developments
Aerolab; Aiolos; Boeing; ETW GmbH; Horiba Ltd.; Lockheed Martin Corporation; Mahle GmbH; Mitsubishi Heavy Industries, Ltd.; Rail Tec Arsenal; and RUAG are among the key players profiled during the study of the global wind tunnel market. In addition, several other essential market players were studied and analyzed to get a holistic view of the wind tunnel market and its ecosystem.
In March 2021, RUAG developed and tested wind tunnel models for simulating emerging turbofan and propeller technologies. This initiative is further helping to shape a greener future for the aviation industry.
In March 2021, Rail Tec Arsenal planned to expand its Climatic Tests in the Climatic Wind Tunnel Vienna. Workarounds and related increased space requirements for such tests are constantly growing.
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