Wheldon, 33, lost his life after a 15-vehicle crash which caused his Dallara Honda to hurtle through the air and hit a trackside fence.
He was airlifted to hospital but died from what IndyCar chief executive Randy Bernard confirmed were "unsurvivable injuries".
Former three-time Formula One champion Jackie Stewart believes that Wheldon's death should spark changes in the IndyCar format.
"Take 15 cars out of a field of 34. It's probably too much for a one-and-a-half-mile circuit," he told Sky Sports News.
"Do we have to do 230, 240 miles per hour? We don't have to do those speeds. If all the cars were travelling at the same speeds, if you could knock off 30 or 40mph from that speed frankly no-one would notice.
"I don't think you can stand still for safety. There's always an improvement to be made."
A number of racing figures have paid tribute to Wheldon throughout the day.