Wind Tunnel Market worth 2.88 Billion USD by 2023
The objectives of this study are to analyze the wind tunnel market along with the statistics from 2018 to 2023, as well as to define, describe, and forecast the wind tunnel market on the basis of application, solution, alignment, airspeed and region.
(EMAILWIRE.COM, August 04, 2018 ) According to the new market research report "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", The wind tunnel market is estimated at USD 2.61 Billion in 2018 and is projected to reach USD 2.88 Billion by 2022, at a CAGR of 2.01% from 2018 to 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 increasing use of wind tunnels in the construction sector and wind energy installations is also leading to the growth of the wind tunnel market across the globe.
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Based on application, the wind tunnel market is segmented into aerospace & defense, transportation, racing championship, building construction & wind energy, adventure sports skydiving, and training & simulation. The aerospace & defense segment is projected to be the largest application segment of the wind tunnel market during the forecast period. This segment is further segmented into aircraft and rockets & missiles. Wind tunnel testing services are majorly used in aerospace & defense application. Wind tunnels play a critical role in the aerodynamic design of various aircraft and missiles by their testing in supersonic and hypersonic wind tunnels.
Based on alignment, the vertical segment is projected to grow at a higher CAGR during the forecast period. The growth of this segment can be attributed to the increased use of horizontally aligned wind tunnels for testing aerodynamic design and performance of aircraft and automobiles.
Europe is estimated to account for the largest share of the wind tunnel market in 2018. The presence of various aircraft manufacturers in the region such as Airbus, Dassault Aviation, MiG, Sukhoi, and SAAB is fueling to the growth of the wind tunnel market. These companies are developing new generation commercial and military aircraft.
Germany is projected to be the leading market for wind tunnel market during the forecast period. Germany is leading country for aerospace & defense, and automobile wind tunnel testing services. Various companies in the country such as Mercedes Benz, Audi are major players in the development of next-generation electric vehicles. These factors propel Europe to be the largest wind tunnel market.
Key companies profiled in the wind tunnel market include 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.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Download pdf brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=186355571
Based on application, the wind tunnel market is segmented into aerospace & defense, transportation, racing championship, building construction & wind energy, adventure sports skydiving, and training & simulation. The aerospace & defense segment is projected to be the largest application segment of the wind tunnel market during the forecast period. This segment is further segmented into aircraft and rockets & missiles. Wind tunnel testing services are majorly used in aerospace & defense application. Wind tunnels play a critical role in the aerodynamic design of various aircraft and missiles by their testing in supersonic and hypersonic wind tunnels.
Based on alignment, the vertical segment is projected to grow at a higher CAGR during the forecast period. The growth of this segment can be attributed to the increased use of horizontally aligned wind tunnels for testing aerodynamic design and performance of aircraft and automobiles.
Europe is estimated to account for the largest share of the wind tunnel market in 2018. The presence of various aircraft manufacturers in the region such as Airbus, Dassault Aviation, MiG, Sukhoi, and SAAB is fueling to the growth of the wind tunnel market. These companies are developing new generation commercial and military aircraft.
Germany is projected to be the leading market for wind tunnel market during the forecast period. Germany is leading country for aerospace & defense, and automobile wind tunnel testing services. Various companies in the country such as Mercedes Benz, Audi are major players in the development of next-generation electric vehicles. These factors propel Europe to be the largest wind tunnel market.
Key companies profiled in the wind tunnel market include 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.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results