Global Wind Tunnel Market worth US$ 3.4 Billion 2029 with a CAGR of 2.4 %

The report "Global Wind Tunnel Market, By Airspeed (Supersonic, Transonic, Subsonic, and Hypersonic), By Alignment (Horizontal and Vertical), By Solution (Services and Products), By Application (Transportation, Building Construction and Wind Energy, Racing Championship, Training and Simulation, Adventure Sports Skydiving, and Aerospace and Defense), and Region - Global Forecast to 2029" Global wind tunnel market is projected to grow from US$ 2.8 billion in 2020 to US$ 3.4 billion by 2029. Increasing research in new generation high speed aircraft and defense sector is major factor driving growth of the global wind tunnel market. Furthermore, rising investments to develop fuel efficient satellite launcher, aircrafts, and electrical aircrafts and vehicle is also important factor support growth of the global wind tunnel market over forecast period. Rising trained of adventure sports in wind tunnels is expected to create lucrative opportunity for players operating in the global wind tunnel market.

Key Highlights:

• In October 2018, for instance, DNW German-dutch Wind Tunnels company, Embraer, the German Aerospace Center (Deutsches Zentrum für Luft- und Raumfahrt; DLR), the Netherlands Aerospace Centre (NLR) has succeeded in testing an innovative method for examining the safety of future aircraft and they have been able to analyses the flutter behavior of a wing in real time.

Key Market Insights from the report:

The global wind tunnel market accounted for US$ 2.8 billion in 2020 and is projected to register a CAGR of 2.4 % over the forecast period. The market report has been segmented on the basis of airspeed, alignment, solution, application, and region.

• By airspeed, the global wind tunnel market is segmented into supersonic, transonic, subsonic, and hypersonic.
• By alignment, the global wind tunnel market is categorized into horizontal and vertical.
• By solution, the services segment is accounted for major revenue share in 2018, owing to easy availability of technical expertise to carry out their installation and maintenance in minimum cost.
• By application, the aerospace and defense segment is accounted for major revenue share in 2018, owing to increased use of wind tunnels for testing of critical climatic condition on aerospace and defense application.
• By region, North America wind tunnel market accounted for major revenue share of the global wind tunnel market and is further anticipated to maintain its dominance over the forecast period. This is owing to increasing investment in research and development of missiles and aircraft in defense sector, coupled with presence of prominent players in the countries of the North America region. Asia Pacific wind tunnel market is expected to grow at the highest rate during the forecast period, 2019. This is attributed to the development of electric automotive vehicles and development and manufacturing of various types of new and advanced aircraft for commercial and defense applications in countries of the Asia Pacific region.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Wind Tunnel Market", By Airspeed (Supersonic, Transonic, Subsonic, and Hypersonic), By Alignment (Horizontal and Vertical), By Solution (Services and Products), By Application (Transportation, Building Construction and Wind Energy, Racing Championship, Training and Simulation, Adventure Sports Skydiving, and Aerospace and Defense), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

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Links

https://www.prophecymarketinsights.com/market_insight/Global-Wind-Tunnel-Market-By-683

The prominent player operating in the global wind tunnel market includes National Aeronautics and Space Administration, The Boeing Company, Lockheed Martin Corporation, Centre Scientifique et Technique du Bâtiment CSTB, Fkfs Forschungsinstitut Fur Kraftfahrwesen Und Fahrzeugmotoren Stuttgart Ggmbh, DNW German-dutch Wind Tunnels company, Mitsubishi Heavy Industries, Ltd., HORIBA, Ltd., BMT Group Limited, and Force Technology A/S.

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