World News: 14:08 GMT Thursday 6th December 2018. [Technavio Research via Businesswire via SPi World News]
The global aerospace wind tunnel testing services market is expected to post a CAGR of over 3% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global aerospace wind tunnel testing services market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the development of new generation aircraft and associated components. Wind tunnels are used by engineers to test designs for aircraft, materials, and shapes of parts. The primary objective for conducting wind tunnel testing is to characterize the aerodynamic performance, control of aircraft and stability. Since several innovative technologies for aircraft and its components are being emerged in the market, the requirement for intensive testing using wind tunnel is also increasing, which, in turn, is boosting the growth of the aerospace wind tunnel testing services market.
This market research report on the global aerospace wind tunnel testing services market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increased efforts in developing electric aircraft as one of the key emerging trends in the global aerospace wind tunnel testing services market:
Global aerospace wind tunnel testing services market: Increased efforts in developing electric aircraft
The growing need for achieving low-noise and emission-free air travel has seen a rise in electrifying aircraft propulsion systems. Corporates and investors are eager to enter the electric aircraft market amid a spike in development activities. Aerospace incumbents are also investing considerable resources for electrifying the aviation sector. They have launched retrofitted versions of existing aircraft such as the electric Cessna 172 Sky hawk and Pipistrel Taurus Electro or WATTsUP electric trainer. Therefore, the increased efforts in developing electric aircraft is boosting the growth of the aerospace wind tunnel testing services market.
“The aircraft manufacturing industry is focusing on reducing the overall weight of the aircraft while maintaining or even improving the total load carrying capacity. Thus. the need to design and produce high-performance aircraft within a weight constraint is the main driver for aircraft manufacturers to use lightweight composites. This is triggering the growth of fused deposition modeling technique, which, in turn, is boosting the growth of the market,” says a senior analyst at Technavio for research on aviation.
Global aerospace wind tunnel testing services market: Segmentation analysis
This market research report segments the global aerospace wind tunnel testing services market by applications (commercial and civil aviation, and military aviation) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of about 38%, followed by EMEA and APAC respectively. The Americas is expected to continue to dominate the market during the forecast period with the highest incremental growth.
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Some of the key topics covered in the report include:
Five Forces Analysis
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Business Wire: 14:08 GMT Thursday 6th December 2018
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