Flight Simulator Market by Platform (Commercial, Military, UAVs), Type (Full Flight, Flight Training Device, Full Mission, Fixed based), Method (Virtual, Synthetic), Solution (Products, Services) and Region - Global Forecast to 2027
The Flight Simulator market size is projected to grow from USD 7.4 billion in 2022 to USD 10.3 billion by 2027, at a CAGR of 6.9% from 2022 to 2027. The increasing demand for flight simulators is driven by the need to train pilots to meet the increasing demand for air travel.Flight simulators enable pilots to perform various flying activities while reducing the dangers that would otherwise be involved. Another key aspect projected to contribute to the growth of the flight simulator market is the rising adoption of virtual pilot training to enhance aviation safety.
The UAV segment is projected to grow at the highest CAGR in the platform segment during the forecast period
The flight simulator market is segmented into commercial, military, and UAV platforms. In 2020, the commercial segment accounted for a larger market share. The increase in commercial air travel has produced a demand for active, efficient pilots, which has created a demand for flight simulators. Because of globalization, more individuals are flying for business and pleasure, which has increased the demand for commercial airline pilots. During the forecast period, revenue from the UAV segment is expected to expand rapidly. The rising demand for unmanned aerial vehicles for commercial and defense applications propels the segment's revenue growth. Several defense agencies are investing in the development of high-altitude long-endurance (HALE) and medium-altitude long-endurance (MALE) unmanned aerial vehicles (UAVs) for surveillance, intelligence, and reconnaissance.
The synthetic segment is projected to grow at the highest CAGR during the forecast period
Based on the method, the flight simulator market has been segmented into synthetic and virtual. Adopting the synthetic simulation method for military training is one of the most significant factors projected to drive the flight simulator market growth. Growing demand for pilots in the aviation industry, acceptance of virtual pilot training to ensure aviation safety, and the need to reduce the cost of pilot training are the major factors driving the virtual training method in the flight simulator market.
North America is expected to account for the largest share in 2021
North America is the largest region in terms of aircraft flight operations. The rise in demand for innovative systems for pilot training and certification for new pilots by airlines in the region contributes to the growth of the market in this region. The growing market for UAVs within the region is projected to drive the demand for flight simulators for UAVs. Furthermore, there has been an acceleration in the production of flight simulators to fill the significant orders for unmanned aerial vehicles. Established companies, such as CAE Inc. (US), FlightSafety International (US), Boeing Company (US), and L3Harris Technologies (US), are enhancing their R&D efforts to develop new products to cater to market trends and the significant demand for flight simulators from the aerospace & defense industry.
The break-up of profile of primary participants in the flight simulator market:
By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
By Designation: C Level – 75%, Director Level – 25%
By Region: North America –20%, Europe – 25%, AsiaPacific – 30%,Middle East – 10%, and Rest of the World – 15%
Major players operating in the flight simulator market are CAE Inc. (Canada), L3Harris Technologies, Inc. (US), Thales SA (France), Saab AB (Sweden), Indra (Spain), Flight Safety International(US), The Boeing Company (US), Airbus S.A.S. (Netherlands), Tru Simulation + Training Inc. (US), and Raytheon Company (US).
The report segments the flight simulator market based on Type, Platform, Method, Solution, and Region. The flight simulator market is segmented into full flight simulators, fixed base simulators, flight training devices,and full mission flight simulators based on type. Based on the solution, the market is segmented into products and services. Based on the platform, the market is segmented into commercial, military, and UAVs. Based on the method, the market is segmented into synthetic and virtual. The flight simulator market has been studied in North America, Europe, Asia Pacific, the Middle East, and the rest of the World.The scope of the study includes thorough information on the important aspects impacting the growth of the flight simulator market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, as well as key strategies such as contracts, partnerships, agreements, new product and service launches, mergers and acquisitions, and recent developments in the flight simulator market. This research includes a competitive analysis of upcoming startups in the flight simulator market ecosystem.
Reasons to buy this report:
The research will provide industry leaders and potential entrants with information on the closest estimations of revenue figures for the flight simulator market. This study will assist stakeholders in better understanding the competitive environment and gaining new insights to position their businesses better and develop appropriate go-to-market strategies. The study also assists stakeholders in understanding the pulse of the industry and offers data on major market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Market Penetration:The market's leading companies provide comprehensive information about flight simulators.
Product Development/Innovation:In-depth information on future technologies, R&D efforts, and new product and service launches in the flight simulator market.
Market Development:In-depth information on profitable markets - the study examines the flight simulator market in several areas.
Market Diversification:Comprehensive data on new goods and services, new geographies, current advancements, and investments in the flight simulator market.
Competitive Assessment:An in-depth examination of the flight simulator industry's major companies' market shares, growth strategies, and service offerings.
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