The wind tunnel market is estimated at USD 2.61 Billion in 2018 and is projected to reach USD 2.88 Billion by 2023, at a CAGR of 2.01% during the forecast period. The growth of the wind tunnel market is mainly driven by the increased demand for UAVs across the globe, development of new generation high-speed aircraft and missiles, increased investments for the development of electric vehicles. Europe is expected to be the largest market for wind tunnel from 2018 to 2023, followed by North America.
Key players operating in the wind tunnel market include Lockheed Martin (US), Boeing (US), Aiolos (Canada), Horiba (Japan), Mahle (Germany), Rail Tec Arsenal (Austria), and Mitsubishi Heavy Industries (Japan), among others.
Major strategies adopted by leading market players include contacts, new product launches, acquisitions, agreements, and partnerships. Contracts was the most adopted strategy between 2014 and 2017. Key players have adopted agreements, acquisitions, and partnerships to strengthen their footholds in the wind tunnel market.
Aiolos (Canada) is one of the prominent players in the wind tunnel market. It offers a diverse portfolio of wind tunnels. The company designs technologically-advanced products for various aerospace and automotive companies across the globe. It also offers consultation and installation services for wind tunnels. Major clients of the company include NASA, Rail Tec Corporation, Boeing, Ford, and Mercedes Benz, among others. In October 2017, Aiolos received a contract from PACCAR (US) to design, fabricate, install, and commission climatic wind tunnels to carry out testing of heavy trucks. In September 2017, the company received a contract from FAW Toyota (Japan) to design and supply high temperature, acoustic climatic wind tunnels.
Boeing (US) is another leading player in the wind tunnel market offering its facilities for various types of wind tunnel testing for civilian and military aircraft. The company carries out R&D activities for the applied research & development and launch of new products and systems. Major wind tunnel testing facilities of the company include subsonic, transonic, polysonic, Icing, and Low-speed aero-acoustic testing services.
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
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