Insights on the Wind Tunnel Global Market to 2028 - Rising Adoption of Electric Vehicles Presents Opportunities

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Apr 04, 2022, 11:45 ET

DUBLIN, April 4, 2022 /PRNewswire/ -- The "Wind Tunnel Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution, Alignment, Airspeed Type, and Application" report has been added to ResearchAndMarkets.com's offering.

The wind tunnel 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 tunnel experiments are being widely used by architects, engineers, and aerodynamicists to assess a broad range of structures, such as buildings, vehicles, and aircraft designs. Depending on the wind speed that wind tunnels can produce, they are used across multiple industries, such as low subsonic, transonic, supersonic, and hypersonic. However, physical wind tunnels are being replaced by wind tunnel simulation in aerodynamic testing. Its primary use is to visualize air flows around an object to assess its aerodynamics.

The simulator assists design engineers by optimizing lift and drag, detecting and eliminating high wind speed zones, increasing top speed, and reducing wind noise, thereby optimizing automotive, aerospace, and construction planning operations. Wind tunnel simulation outcomes helps in higher prototyping and manufacturing lead times, operational costs, and computational fluid dynamics (CFD) simulations allowing engineers to study the aerodynamic loads and reduce the inaccuracies found in wind tunnel test experiments. Therefore, the rising demand from different sectors positively impacts the wind tunnel market growth.

Cloud-based simulation allows the user to run simulations in parallel to test multiple design iterations or simultaneously investigate different aspects of a design. Several prominent simulation providers and wind testing companies offer a range of advanced cloud-based wind tunnel solutions to meet the rising requirements of aerodynamics testing in multiple industries. Altair introduced HyperWorks Virtual Wind Tunnel, a vertical application designed to improve wind tunnel simulation for the automotive industry. The virtual tunnel provides a friendly, intuitive user environment and an auto-setup process.

Additionally, the simulation results can be incorporated with the high-performance computing systems from within the HyperWorks Virtual Wind Tunnel environment. Koenigsegg, a renowned manufacturer of high-performance supercars, uses the ICON simulation software on a cloud-based-HPC system to reduce wind tunnel testing duration and processes. Simulation allows the company's designers to access powerful computing resources remotely, thereby reducing hardware expenses and maintenance costs. Therefore, transforming physical wind tunnels towards their virtual counterparts paves the way for future global wind tunnel market trends.

Impact of COVID-19

Industrial activities picked pace from the last quarter of 2020 as the wind tunnel market players are experiencing steady growth in demand from end users. Moreover, the huge requirement of wind tunnels in building construction has created a stable demand for wind tunnels globally. Further, the COVID-19 pandemic has invoked a rising need for high-quality wind tunnel solutions for electric vehicles as they play a crucial role in aerodynamics testing. Notably, the sales of electric vehicles have been increasing, especially in the USA, China, and Europe, since the COVID-19 crisis. Although the global wind tunnel market plummeted initially due to the adverse impact of the COVID-19 pandemic and the related regulations, it is expected to gain strong recovery owing to the increasing requirement of wind tunnels across numerous end-use verticals.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the wind tunnel market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the wind tunnel market thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Wind Tunnel Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Wind Tunnel Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Widespread Adoption in Aircraft Development
5.1.2 Boom in Green Buildings Market
5.2 Market Restraints
5.2.1 High Costs and Operational Issues Associated with Wind Tunnel Tests
5.3 Market Opportunities
5.3.1 Rising Adoption of Electric Vehicles
5.4 Future Trends
5.4.1 Cloud-Based Wind Tunnel Simulations
5.5 Impact Analysis of Drivers and Restraints

6. Wind Tunnel Market -Regional Analysis
6.1 Wind Tunnel Market Global Overview
6.2 Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players

7. Wind Tunnel Market Analysis - By Solution
7.1 Overview
7.2 Wind Tunnel Market, By Solution (2020 and 2028)
7.3 Products
7.3.1 Overview
7.3.2 Products: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)

8. Wind Tunnel Market - By Alignment
8.1 Overview
8.2 Wind Tunnel Market, By Alignment (2020 and 2028)
8.3 Horizontal
8.3.1 Overview
8.3.2 Horizontal: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Vertical
8.4.1 Overview
8.4.2 Vertical: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)

9. Wind Tunnel Market - By Airspeed Type
9.1 Overview
9.2 Wind Tunnel Market, By Airspeed Type (2020 and 2028)
9.3 Subsonic
9.3.1 Overview
9.3.2 Subsonic: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Supersonic
9.4.1 Overview
9.4.2 Supersonic: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Transonic
9.5.1 Overview
9.5.2 Transonic: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
9.6 Hypersonic
9.6.1 Overview
9.6.2 Hypersonic: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)

10. Wind Tunnel Market - By Application
10.1 Overview
10.2 Wind Tunnel Market, By Application (2020 and 2028)
10.3 Aerospace and Defense
10.3.1 Overview
10.3.2 Aerospace and Defense: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Automotive and Transportation
10.4.1 Overview
10.4.2 Automotive and Transportation: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Building Construction and Wind Energy
10.5.1 Overview
10.5.2 Building Construction and Wind Energy: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
10.6 Training and Simulation
10.6.1 Overview
10.6.2 Training and Simulation: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
10.7 Adventure Sports Skydiving
10.7.1 Overview
10.7.2 Adventure Sports Skydiving: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)
10.8 Others
10.8.1 Overview
10.8.2 Others: Wind Tunnel Market - Revenue and Forecast to 2028 (US$ Million)

11. Wind Tunnel Market - Geographic Analysis

12. Wind Tunnel Market - COVID-19 Impact Analysis
12.1 Overview
12.2 North America: Impact Assessment of Covid-19 Pandemic
12.3 Europe: Impact Assessment of Covid-19 Pandemic
12.4 Asia Pacific: Impact Assessment of Covid-19 Pandemic
12.5 Middle East & Africa: Impact Assessment of Covid-19 Pandemic
12.6 South America: Impact Assessment of Covid-19 Pandemic

13. Wind Tunnels Market - Industry Landscape
13.1 Overview
13.2 Mergers and Acquisitions
13.3 New Product Launches
13.4 Expansions And Other Strategic Developments

14. Company Profiles
14.1 Aerolab
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Aiolos
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Boeing
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 ETW GmbH
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Horiba Ltd.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Lockheed Martin Corporation
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Mahle GmbH
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Mitsubishi Heavy Industries, Ltd.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Rail Tec Arsenal
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 RUAG
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments

15. Appendix