Global Civil Aviation Flight Training and Simulation Market - Growth, Trends And Forecasts (2018-2023)
Artificial re-creation of aircraft flight and the environment in which it flies for pilot training, design or other purposes is called flight simulation. This simulated environment gives the same reaction to external factors as does the original flight and also simulates the equations of how flights fly. It is not only needed for just training purpose but also for research purposes and performance evaluation of trainees etc. It is expected that market for simulation and training will increase as the customers require advanced visual and motion technologies on par with the actual aircrafts today and their regulatory requirements. The demand for air travel and hence the need for pilots has significantly increased, for example, there was a 5.7% increase by September 2013 from September 2012 globally and the %increase was even more when seen region specific with highest being Asia Pacific. This demand for air travel and pilots also increased and increases the demand for aircraft simulation and training market.
The revenue of civil aviation flight training and simulation market is about 3 billion dollars in 2014 and is expected to reach 7.59 billion dollars by 2020.
So far the highest market share in this segment is observed in North America followed by Asia pacific, Europe, Middle East, South America and Africa respectively. North America is expected to maintain its value while in other areas the market share can fluctuate because there are immense opportunities for new vendors to enter and also there is scope for joint ventures.
Previously clients used to choose simulator type by the material that went into making it and very high quality even if cost is high but now low or optimum cost simulators are preferred over high cost simulators. Vendors have to keep this in mind while deciding costs. There are many other factors that affect the market like loyalty of customers etc.
Major players in this market are Boeing, Airbus, Bombardier, ATR and others.