Flight Simulator Market Share, Size, Trends – 2022-2029

 Flight Simulator Market

Flight Simulator Market registered a revenue of USD 6.2 billion in 2021 and is projected to reach USD 9.5 billion in 2029, growing at a CAGR of 5.5% during the forecast period.

The factors driving the growth of Flight Simulator Market includes rapid growth in the tourism sector, growing demand for effective pilot training solutions, rise in the air passenger traffic around the world and increasing use of Unmanned ariel Vehicles by defense forces. According to the report published by Statista, the Global Unmanned Ariel Vehicle (UAV) Market was estimated around USD 23.60 billion in 2021 and is expected to reach USD 77.69 billion by the end of 2030, growing at a CAGR of 14.6% over the forecast period, which will boost the demand for flight simulators in the approaching years. Moreover, collaborations between leading industry players, rising trend of adopting advanced technologies such as Augmented Reality (AR) and Virtual Reality (VR) in pilot training programs and growing emphasis on improving Aircraft Simulation Technology (AST) systems, are some of the additional factors supplementing the Global Flight Simulator Market. In addition, the increasing investments by leading players on research and development, improvements in living standards, rising importance on aircraft safety, and growing population growth rates, are further propelling the Flight Simulator Market size.

Request a free sample of this report

However, the growth of Flight Simulator Market is hindered due to insufficient availability of skilled workforce.

The leading players operating in the Flight Simulator Market are Lockheed Martin Corporation, KRATOS DEFENSE AND SECURITY TYPE, Rockwell Collins, Infinite Flight, AEROFLY FS, HAVELSAN, Alenia Aeronautica, Cassidian, CAE, FlightGear, FLYINSIDE, Fidelity Technologies Corporation and, Boeing among others.

Based on Solutions, the Product segment is predicted to grow at a significant CAGR during the forecast period

Growing demand for virtual and live training programs solutions by aircraft and defense companies, are some of the factors responsible for the segment’s growth.

Based on Type, the Full Flight Simulator (FFS) segment is projected to capture the largest market share over the forecast period

Increasing use of full flight simulator in the commercial and military aircraft, along with its ability to provide battlefield simulations through artificial intelligence, are propelling the growth of the segment.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Presence of the leading players such as Lockheed Martin Corporation, KRATOS DEFENSE AND SECURITY TYPE, rise in Government spending on the defense sector, growing adoption of advanced technologies and high per capita incomes, are some of the important factors augmenting the Flight Simulator Market size in North America.

Key Development

  • In 2019, CAE introduced new virtual reality trainer for or speeding up and cutting the cost of pilot training with use of own courseware and virtual reality system, which is expected to draw attention from the U.S. and international militaries.
  • In 2018, CAE introduced CAE 700MR Series flight simulator designed for military helicopter training. Development of this high-end helicopter flight training device (FTDs) is used to further development and refinement of the new CAE 700MR Series.

Market Segmentation

Segmentation by Type

  • Aviation Training Device (ATD)
  • Full Flight Simulator (FFS)
  • Fixed Flight Training Devices (FTD)

Segmentation by Aircraft Type

  • Rotary Wing Aircraft
  • Fixed Wing Aircraft

Segmentation by Solution

  • Product
    • Live Simulation
    • Virtual Simulation
  • Aircraft Type

Segmentation by Application

  • UAV
  • Helicopter Simulator
  • Commercial
  • Military & Defence
  • Civil

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/report

Location: United States

Comments

Post a Comment

Popular posts from this blog

Restaurant Point Of Sale Terminal Market Share Report & Forecast 2029

Image
  The Restaurant Point-of-Sale Terminal Market is estimated to witness a growth of CAGR 8.5% during the forecast period, 2022-2029. The factors driving growth of the Restaurant Point-of-Sale Terminal Market includes increasing deployment of point-of-sale systems at restaurants, breweries, and nightclubs, rise in the volume of contactless payment transactions, growing popularity of online food delivery applications such as Swiggy, Zomato and Uber Eats and improvements in the living standards. Moreover, technological advancements in point-of-sale systems, Point of Sale Terminals offer online orders, e-wallets, table reservations and loyalty programs, rising focus by restaurants on streamlining operations, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic collaborations between enterprises and growing
Read more

Managed Print Services Market Size, Share, & Growth Analysis - 2020-2027

Image
  Managed Print Services Market The Managed Print Services Market is estimated to reach USD 70 billion by 2027, growing at a CAGR of 8.2% over the forecast period (2020-2027). The factors driving the growth of Managed Print Services Market includes digital transformation across the industry verticals such as Banking, Financial Services, and Insurance (BFSI), Healthcare and Telecommunication, emerging need to reduce paper wastage and growing trend of Bring Your-Own Device (BYOD). According to the report published by Environmental Paper Network, the consumption of paper worldwide has drastically increased by 400% over the last four decades, on an average a citizen in the United States uses more than 700 pounds of paper every year, which will boost the Managed Print Services Market Growth in the approaching years. Moreover, the growing adoption of Cloud Computing and Big Data Analytics by the major organizations, increasing investments by the leading players on research and development
Read more

Crypto Asset Management Market size, share & Trends Forecast 2028

Image
  The Crypto Asset Management Market was estimated around USD 315 million in 2020 and is predicted to grow at a CAGR of 21.1%, over the forecast period (2021-2028). The factors driving growth of the market includes rise in the number of institutional investors and wealth managers investing first time in crypto currency, surge in the volumes of online transactions around the world, emerging need to secure cryptocurrency assets, Government initiatives promoting digitalization and improvements in the living standards. Cryptocurrency asset management platforms allow investors to manage different wallets in one spot, simplifies the management of the developing crypto asset for seasoned traders, and helps users to increase their portfolio, are some of the features pushing the Crypto Asset Management Market size . Moreover, increasing adoption of cryptocurrency across industry verticals such as Healthcare, Retail and Commerce, BSFI, advancements in Internet of Things (IoT) and Artificial Inte
Read more