The Wind Tunnel by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wind Tunnel, The wind tunnel market size has grown steadily in recent years. It will grow from $2.78 billion in 2023 to $2.88 billion in 2024 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to innovation in fluid dynamics, academic and research institutions, historical government initiatives, renewable energy development, meteorology and climate studies.
The wind tunnel market size is expected to see steady growth in the next few years. It will grow to $3.37 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to rising demand in renewable energy, aerospace innovation, urban infrastructure development, automotive industry evolution, advancements in materials science.. Major trends in the forecast period include increased energy efficiency testing, adoption of advanced computational fluid dynamics (cfd), multi-use wind tunnels, urban wind studies, renewable energy testing.
The increase in demand for UAVs is driving the wind tunnel market. Unmanned aerial vehicles are airplanes without a human pilot, flight crew, or passengers (UAV). The increase in automation in various industries has led to an increase in demand for UAVs. The engineers use the wind tunnel to improve UAV’s design and pinpoint places where the lift: drag ratio can be increased. For instance, in July 2023, according to a report by the Federal Aviation Administration (FAA), a US-based transportation agency, the number of active commercial unmanned aerial systems registrations in the USA were 412,342 in 2023. Further, there were around 607,177 active fleet of recreational drones in 2021. As a result, the rise in demand for UAVs will propel the wind tunnel market.
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The wind tunnel market covered in this report is segmented –
1) By Solution: Products, Services
2) By AirSpeed: Subsonic, Transonic, Supersonic, Hypersonic
3) By Alignment: Vertical, Horizontal
4) By Application: Aerospace And Defense, Transportation, Racing Championship, Building Construction And Wind Energy, Adventure Sports Skydiving, Training And Simulation
Technological advancement is a key trend in the wind tunnel market. Major companies in the wind tunnel market are developing technologically advanced solutions to sustain in the market. For instance, in April 2023, SimScale, a Germnay-based provider of computer-aided engineering software, launched Nuada.CFD app, a digital wind tunnel app. It is a microclimate modeling app that enables architects and engineers to perform comprehensive microclimate and wind comfort analyses directly within the Rhino CAD environment. It leverages the power of SimScale’s lattice Boltzmann method (LBM) solver Pacefish to deliver fast and accurate transient wind simulations, enabling users to assess the impact of wind flow around buildings and urban structures.
The wind tunnel market report table of contents includes:
1. Executive Summary
2. Wind Tunnel Market Characteristics
3. Wind Tunnel Market Trends And Strategies
4. Wind Tunnel Market – Macro Economic Scenario
5. Global Wind Tunnel Market Size and Growth
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26. South America Wind Tunnel Market
27. Brazil Wind Tunnel Market
28. Middle East Wind Tunnel Market
29. Africa Wind Tunnel Market
30. Wind Tunnel Market Competitive Landscape And Company Profiles
Top Major Players:
- Boeing Company
- Lockheed Martin Corporation
- DNW Aero
- Mitsubishi Heavy Industries
- HORIBA Ltd
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