Aerodynamic Market

Aerodynamic Market Size (2023 - 2028):

The Global Aerodynamic Market was worth US$ 24.6 billion in 2022 and is anticipated to reach a valuation of US$ 32.44 billion by 2028 and is predicted to register a CAGR of 4.81% during 2023-2028.

Aerodynamic features are the investigation of how gases associate with moving bodies. Since the gas we experience the most is air, streamlined features are principally worried about drag and lift powers, which are brought about via air passing over and around strong bodies. Vehicles designed on the basis of aerodynamics are likely to run faster and can be molded into different shapes. Furthermore, these vehicles consume less fuel than other vehicles. This is because the air passes through more easily.

Aerodynamics is the most effective technique for reducing emissions in the automotive industry after improving the powertrain and reducing weight. Active aerodynamics is advanced aerodynamic technology, which tends to selectively admit or restrict airflow according to requirements in real-time and contributes to the reduction of drag and thus to the reduction of emissions.

Market Drivers:

The growing demand for high-speed and sophisticated vehicles is a major factor driving the horizon of the global aerodynamic market. In addition to the growing demand for faster vehicles, people are switching to lighter vehicles with better mileage. All in all, there is more stability toward vehicle preference in the aerodynamic market. Also, the arrival of the electric vehicle has opened up new opportunities for the expansion of the global automotive aerodynamics market. Moreover, in the coming years, the growing rate of adoption of cost-effective and economical light commercial vehicles, along with luxury HCs, is supposed to drive the global aeronautical market.

Market Restraints:

On the contrary, the high cost of installing these systems can interfere with the growth of the global aerodynamic market. The difference of opinion between vehicle designers and engineers when experimenting with a new aerodynamic application is a major limiting factor. This, in turn, can interfere with business growth during the forecast period.

AERODYNAMIC MARKET REPORT COVERAGE:

Market Segmentation:

Aerodynamic Market - By Application:

• Air Dam 
• Diffuser 
• Grille Shutter 
• Side Skirts 
• Spoiler

GRILLE SHUTTER engines and their extensive supply chains account for almost half of the global aerospace industry, while maintenance, repair, overhaul, and upgrades have been another key driver for the developments in the aerodynamic market during the review period.

Aerodynamic Market - By Electric Vehicle Type:

• BEV 
• HEV

Aerodynamic Market - By Mechanism:

• Active System 
• Passive System

Aerodynamic Market - By Vehicle Type:

• Light-Duty Vehicles 
• Heavy Commercial Vehicles

Recent technological advances are positively changing the light vehicle segment. The luxury cars are equipped with an active aerodynamic system and work as needed. High-speed cruisers focus on aerodynamic designs. Many current military drones are expensive and complex to operate, requiring large numbers of personnel and mission replanting. But advances in aerodynamics could unleash the power of cheaper vehicles that operate collaboratively in swarms or in teams with other aircraft, both unmanned and piloted.

Market Regional Analysis: 

The Global Aerodynamic Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Among all regions, North America is expected to gain a substantial market share globally. The Asia-Pacific aerodynamic market is supposed to display a steady development rate over the given gauge period. The market is probably going to have a huge piece of the overall industry, as far as volume and worth. The region's growth rate is attributed to the burgeoning population and increased need for automobiles. Demand for cars is triggered by rising disposable income in developing economies in the region like India, China, and Japan, which has resulted in more people opting for their personal vehicles in the Asia-Pacific area. Apart from this, these developing regions’ economic growth also results in the development of strict pollution control standards. Government agencies enforce strict regulations to control emissions in these areas. This, in turn, is likely to contribute to the expansion of the global aerodynamic market.

Impact of Covid-19 On the Aerodynamic Market:

It's hard to overestimate the effect of the coronavirus pandemic on automobile and aerospace industries. With the unprecedented outbreak of COVID-19, passenger air travel has come to a halt because of the need for social distancing and travel bans worldwide to curb its rapid transmission. Airlines around the world face extreme financial pressures and reduce capacity at an unprecedented rate in the absence of significant passenger demand. Some airlines have closed their doors completely, and some of them may never return. There is an effort to reopen the economy and statistics from the Transportation Security Administration show a slight increase in the number of travelers screened at airports, but ticket sales were hit in late June following the surge in cases of COVID-19. In the U.S., with the relentless coronavirus pandemic, airlines still face the challenges of an uneven economic recovery. One of the most important is deciding the load capacity. After taking nearly 70% of the world's fleet out of service between January and early April, carriers can now go wrong on the other side: putting too many planes back online before reliable demand materializes. For airlines in Asia, the addition of aircraft reflects the growing demand for domestic travel. But the return of aircraft to service is not always linked to demand. For some airlines, the decision to increase capacity reflects efforts to gain market share during this precarious period. And for many others, bringing back older aircraft allows them to postpone or even cancel new aircraft orders and save precious money. Correctly reading the market direction is more difficult than ever, with new COVID-19 outbreaks in areas where the virus was believed to be contained and with large economies considering new restrictions. In the United States, the recent reopening of the economies of the southern and western states has led to an increase in COVID-19 cases, even greater than what was seen in April. What people expected to revive growth ended up slowing the early stages of a recovery in demand for air travel. In mid-June, normally the start of a busy summer travel period, ticket sales in the United States plummeted in response to the increase in the number of coronavirus cases in several large states. This reversed some of the gains made in the early spring. In mid-July, sales fell 81% compared to the same week in 2019.

Key Players of the Market:

1. Magna International
2. Roechling Automotive
3. Plastic Omnium
4. SMP Deutschland GmbH
5. Valeo
6. ARCA Space Corporation
7. Czech Aero holding
8. Kawasaki Heavy Industries Aerospace Company.

Market Key Developments:

• WABCO and Valeo sign a memorandum of understanding for sensor technologies serving the commercial vehicle industry for advanced driver assistance systems; WABCO OnCityALERT is positioned as the market-leading application.
• Plastic Omnium features its most recent developments at the Detroit NAIAS Auto Show for protected and feasible versatility.
• Röchling introduced its most recent streamlined turn of events, the AeroSUV, to a group of people of global specialists. Röchling built up the conventional Aero SUV in a joint effort with the Stuttgart Institute for Automotive Engineering and Vehicle Engines (FKFS) at the University of Stuttgart, Germany.
• Magna's Actero active aerodynamic systems include exterior vehicle systems such as active grille fins, active front deflectors, and more.