Services Segment to Dominate North America Wind Tunnel Market during 2020–2028
According to The Insight Partners market research study on “North America Wind Tunnel Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Solution, Alignment, Air speed, and Application” is expected to reach US$ 1,132.48 million by 2028 from 851.13 US$ million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides trends prevailing in the North America wind tunnel market along with the drivers and restraints pertaining to the market growth. Important usage of wind tunnels in aircraft development is the major factor driving the growth of the North America wind tunnel market. However, issues associated with high costs and operational issues associated with wind tunnel tests hinders the growth of North America wind tunnel market.
The North America wind tunnel market is analyzed on the basis of solution, alignment, airspeed type, application, and country. Based on the solution, the wind tunnel market is bifurcated into services and products. The services segment is expected to continue its dominance during the forecast period. Wind tunnels' reduced operation & maintenance (O&M) costs and the easy availability of technical installation and maintenance drive the segment's growth. Based on alignment type, the wind tunnel market is bifurcated into horizontal and vertical segments. The horizontal segment accounted for a larger market share in 2020 and is expected to continue its dominance. Based on airspeed type, the market is segmented into subsonic, supersonic, transonic, and hypersonic. The subsonic segment held the largest market share in 2020. The rising demand for commercial aircraft and automotive testing services is the primary factor responsible for the growth of this segment. Based on application, the market is segmented into aerospace and defense, automotive and transportation, building construction and wind energy, training and simulation, adventure sports skydiving, and others. Aerospace and defense segment held the largest market share in 2020 and is expected to continue its dominance during the forecast period. The increased usage of wind tunnels for testing aircraft used for aerospace and defense applications is a major factor responsible for the segment's growth.
Aerolab; Aiolos; Boeing; ETW GmbH; Horiba Ltd; Lockheed Martin Corporation; Mahle GmbH; Mitsubishi Heavy Industries, Ltd; Rail Tec Arsenal; and RUAG are among the leading companies in the North America wind tunnel market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, RUAG has developed and tested wind tunnel models for simulating emerging turbofan and propeller technologies. This initiative is further helping to shape a greener future for aviation industry.
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