Drone Simulator Market worth $1,501 million by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 22, 2022 /PRNewswire/ -- Drone Simulator Market size is projected to grow from USD 799 million in 2022 to USD 1,501 million by 2027, at a CAGR of 13.4% from 2022 to 2027, according to a new report by MarketsandMarkets™. The rising demand for drones for commercial and military purposes will provide market participants with new growth prospects. Rising R&D efforts in military simulation, rising defense spending in emerging nations, and the rising need for qualified pilots are driving market expansion. Several contracts have been inked to help the market growth. Furthermore, the affordability of drone simulators has led to the expansion of the Drone Simulator Market.
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The portable system type segment is projected to grow at the highest CAGR during the forecast period
Based on system type, the drone simulator market is segmented into fixed and portable systems. The portable segment is expected to grow at the highest CAGR during the forecasted period owing to the increasing use of drones for commercial applications, and affordability is also playing a major role in driving the market growth.
The commercial application projected to have the highest CAGR growth drone simulator market during the forecast period
The drone simulator market is segmented into military and commercial based on the application. Companies providing simulators for commercial drones are expected to introduce innovative simulators for managing fleet and autopilots and picking and dropping payloads. For instance, Amazon Inc. (US) and UPS Logistics (US) use drones to deliver their products. This is expected to increase the demand for drones by various businesses, thereby increasing the demand for drone pilots. These drone pilots would require valid licenses and certificates with hours of experience on simulator systems to fly drones commercially, fueling the market growth in commercial applications.
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North America is projected to lead the market duringthe forecast period.
According to geographical analysis, North America accounts for the largest share of the drone simulator market. Drones have been used in the US for defense components for many years. Currently, drones are used for various commercial and security purposes such as media & entertainment, precision portable, law enforcement, inspection, and surveys. Considering security and safety issues, the demand for certified drone pilots has increased in the country, contributing to the increasing demand for drone simulators. Regulatory bodies such as Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) have set certain regulations for the use of commercial drones in different countries. The market for drone simulators in North America is expected to grow exponentially owing to the demand for more trained military and commercial drone pilots. Leading drone simulator manufacturers such as CAE Inc. (Canada), General Atomics Aeronautical Systems, Inc. (US), and BlueHalo (US) in the region are expected to drive the market.
The key market players in the drone simulator market are CAE Inc. (Canada), Israel Aerospace Industries Ltd. (Israel), Leonardo S.p.A. (Italy), Zen Technologies Limited (India), Havelsan A.S. (Turkey), General Atomics Aeronautical Systems, Inc. (US), Simlat UAS & ISR Training Solutions (Israel), and ST Engineering (Singapore)
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Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting
Military Simulation and Training Market by Application (Army, Aviation, Naval), Type (Live, Virtual, Constructive), Platform (Land, Maritime, Airborne), Solution, Environment (Synthetic, Gaming), Technology & Region (2022-2027)
Simulators Market by Application (Commercial Training, Military Training), Solution (products, Services), Platform (Airborne, Land, Maritime), Technique (Live, Virtual & Constructive, Synthetic Environment, Gaming), Type, Region - Global Forecast to 2027
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