TMCnet News

Flight Simulator Market to increase by USD 2.84 billion during 2022-2027, Rising demand for cost-effective virtual training in the aviation industry to drive the growth - Technavio
[November 30, 2023]

Flight Simulator Market to increase by USD 2.84 billion during 2022-2027, Rising demand for cost-effective virtual training in the aviation industry to drive the growth - Technavio


NEW YORK, Nov. 30, 2023 /PRNewswire/ -- The flight simulator market size is expected to grow by USD 2.84 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 6.62% during the forecast period. The market is segmented by Product Type (Military flight simulator and Commercial flight simulator), Platform (Rotary wing simulator, Fixed wing simulator, and UAV simulator), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).

The rising demand for cost-effective virtual training in the aviation industry drives the flight simulator market. Real-time training can be costly because it requires a lot of resources. However, virtual training reduces the risks that come with real-time training. The risks include the involvement of personnel and equipment. The rapid replacement of spares lowers the downtime for that equipment. This is the opposite in the case of real-time training. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample 

Key Highlights:

  • The report recognizes the following as some of the key players in the flight simulator market: Aero Simulation Inc., Airbus SE, Avenger Flight Group LLC, Berkshire Hathaway Inc., CAE Inc., FenixSim Ltd., Flight Sim Labs Ltd., Flight Simulation Technique Centre Pvt. Ltd., Gen24 Flybiz Pvt. Ltd., Groupe Gorge, HAVELSAN Inc., Indra Sistemas SA, L3Harris Technologies Inc., Lockheed Martin Corp., Raytheon Technologies Corp., Textron Inc., Thales Group, The 737 Experience, The Boeing Co., and VIER IM POTT
  • Flight Simulator Market is fragmented in nature.
  • Market to observe 6.38% YOY growth in 2023.

Market Dynamics:

Trend

  • The 3D simulation provisions for UAV training are an emerging flight simulator market trend. 
  • 3D simulation training focuses on fundamental aspects of UAV operation. This includes takeoff and landing, in-flight procedures, and resolving issues during various applications.
  • Furthermore, the applications include commercial, scientific research, search and rescue, 3D mapping, and military operations. 

Challenge

  • The high cost of flight simulators challenges the flight simulator market.
    Purchasing the latest simulators or upgrading existing ones may not be financially feasible in developing countries or smaller flight training centers.
  • This can hinder the growth and accessibility of virtual training solutions.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

By product type, the military flight simulator segment is significant during the forecast period. FFS allows pilots to train on a replica of a specific aircraft, whereas FSTD allows soldiers to train on a replica of flight controls and other devices. But all simulations have a similar setup. This includes an electronic motion base or hydraulic lift system that responds to the user's inputs and provides haptic feedback. Get a glance at the market contribution of the segments, Request a Sample

Related Reports:

The Global Automotive Driving Simulator Market size is estimated to grow by USD 380.89 million between 2022 and 2027 accelerating at a CAGR of 5.65%.

The automotive crash impact simulator (ACIS) market size is estimated to grow at a CAGR of 10.79% between 2022 and 2027. The market size is forecast to increase by USD 617.25 million.





Flight Simulator Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.62%

Market growth 2023-2027

USD 2.84 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.38

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 43%

Key countries

US, China, India, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aero Simulation Inc., Airbus SE, Avenger Flight Group LLC, Berkshire Hathaway Inc., CAE Inc., FenixSim Ltd., Flight Sim Labs Ltd., Flight Simulation Technique Centre Pvt. Ltd., Gen24 Flybiz Pvt. Ltd., Groupe Gorge, HAVELSAN Inc., Indra Sistemas SA, L3Harris Technologies Inc., Lockheed Martin Corp., Raytheon Technologies Corp., Textron Inc., Thales Group, The 737 Experience, The Boeing Co., and VIER IM POTT

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.


ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product Type

Market Segmentation by Platform

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/flight-simulator-market-to-increase-by-usd-2-84-billion-during-2022-2027--rising-demand-for-cost-effective-virtual-training-in-the-aviation-industry-to-drive-the-growth---technavio-302001710.html

SOURCE Technavio


[ Back To TMCnet.com's Homepage ]