The Wind Tunnel market size is projected to reach US$ 4,287.29 million by 2031 from US$ 2,913.58 million in 2023. The market is expected to register a CAGR of 5.2% during 2023–2031. The growing development in the construction sector is likely to remain a key trend in the market.
Wind Tunnel Market Analysis
The increasing investment by governments strengthening manufacturing capabilities in developing countries and upgrades made maintenance services, coupled with advancements in test facilities’ technology, are projected to drive the demand for wind tunnels among end-use industries in coming years. End-users of wind tunnels are large-scale industries, such as automotive and aerospace, which directly influence the market dynamics. Presently, the electric vehicle sector in automotive and the UAV and defense aircraft/missile manufacturing sectors in aerospace are driving the growth of the market.
Wind Tunnel Market Overview
The growing demand for green infrastructure and rising adoption of electric vehicles is projected to boost the demand for the wind tunnel market globally. The growing application of wind tunnels in the aerospace sector is fueling the growth of the wind tunnel market at the global level. High cost and operational challenges are associated with the market, which might hinder growth. However, the growing proliferation of cloud-driven wind tunnel simulations is projected to steer the growth of the wind tunnel market globally.
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Wind Tunnel Market: Strategic Insights
Market Size Value in US$ 2,706.26 Million in 2021 Market Size Value by US$ 3,784.56 Million by 2028 Growth rate CAGR of 4.9% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Wind Tunnel Market: Strategic Insights
| Market Size Value in | US$ 2,706.26 Million in 2021 |
| Market Size Value by | US$ 3,784.56 Million by 2028 |
| Growth rate | CAGR of 4.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Wind Tunnel Market Drivers and Opportunities
Growing Proliferation of Green Building to Favor Market
The rising emphasis on environment-friendly and sustainable approaches in the construction sector is projected to stimulate the growth of the wind tunnel market globally. The wind tunnel can identify the wind speed around the building surface. The impact of wind force on the building is crucial, specifically in high-rise buildings with large surfaces exposed to wind, wherein the building's internal structure resists the resulting forces. Despite the increased adoption of computational fluid dynamics for structural testing because of faster computing, it is not considered suitable for routine usage in the structural designing of buildings, as its predictions need to be verified by experiments. Evaluating the impact of wind force on high-rise buildings, factories, and bridges can help building designers construct a structure that efficiently withstands the effects of wind. Therefore, the growing proliferation of the green building market is boosting the wind tunnel market growth.
Growing Demand for Electric Vehicles
Aerodynamics showcases an important role in electric cars contrasted to ICE-based vehicles, as the highest energy utilization to accelerate or drive uphill can be retrieved through energy recovery. To handle the energy recuperation needs, automotive engineers run an aerodynamic analysis of an electric passenger car utilizing wind tunnels. Wind tunnels run the primary aerodynamic testing of an electric vehicle. The increasing emphasis on mitigating environmental pollution and the rising trend towards adopting passenger electric vehicles are anticipated to offer positive opportunities for the wind tunnel market.
Wind Tunnel Market Report Segmentation Analysis
Key segments that contributed to the derivation of the wind tunnel market analysis are solution, alignment, airspeed type, and application.
- Based on the solution, the wind tunnel market is divided into products and services. The services segment held a larger market share in 2023.
- By alignment, the market is segmented into horizontal and vertical. The horizontal segment segment held a larger market share in 2023.
- In terms of airspeed type, the market is bifurcated into subsonic, supersonic, transonic, and hypersonic. The subsonic segment held a significant share of the market in 2023.
- In terms of application, the market is segmented into aerospace & defense, automotive & transportation, building construction & wind energy, training & simulation, adventure sports skydiving, and others. The aerospace & defense segment held a significant share of the market in 2023.
Wind Tunnel Market Share Analysis by Geography
The geographic scope of the wind tunnel market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Europe is leading the market. The growing application of wind tunnels in the aerospace and defense sector is boosting the growth of the wind tunnel market in Europe. There are various kinds of wind tunnels, each with its own features and speed range. Research centers and labs for aircraft construction and design are highly leveraging wind tunnels. In addition, the growing application of subsonic wind tunnels in the aerospace sector is also having a positive impact on the growth of the wind tunnel market in the region. The high presence of wind tunnel products and service providers in the region is also acting as a major driver for the wind tunnel market in Europe.
Wind Tunnel Market Report Scope
Wind Tunnel Market News and Recent Developments
The wind tunnel market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Wind Tunnel market are listed below:
- MAHLE climatic wind tunnel ‘goes electric.’ MAHLE expands the range of services at the state-of-the-art facility in Stuttgart and enables testing of the effects of fast charging on sensitive Li-ion batteries under a wide range of possible climatic conditions. (Source: MAHLE Group, Press Release, February 2023)
- The University of Notre Dame and Lockheed Martin Corporation signed a Master Research Agreement on November 4, 2021, to facilitate future collaborations that advance aerospace research. This agreement showcases the mutual desire of both institutions to accelerate their ongoing productive relationship. (Source: Lockheed Martin Corporation, Press Release, November 2021)
Wind Tunnel Market Report Coverage and Deliverables
The “Wind Tunnel Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Wind tunnel market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Wind tunnel market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Wind tunnel market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Wind Tunnel market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Solution, Alignment, Airspeed Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Europe dominated the wind tunnel market in 2023.
Implementation of cloud-driven wind tunnel simulation technology is the future trend of the wind tunnel market.
Aerolab, Aiolos, The Boeing Company, ETW GmbH, Lockheed Martin Corporation, Horiba Ltd, Mahle GmbH, Mitsubishi Heavy Industries, Ltd, Rail Tec Arsenal, and RUAG Holdingare some of the leading players in the market.
US$ 4,287.29 million estimated value of the wind tunnel market by 2031.
4.9% is the expected CAGR of the wind tunnel market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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