The rising production cost of aircraft and increasing demand for technologically advanced devices are driving market revenue growth
Market Size – USD 6.02 Billion in 2020, Market Growth – at a CAGR of 5.2%, Market Trends – Increased demand for trained pilots
The global flight simulator market size is expected to reach USD 9.09 Billion in 2028 and register a revenue CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data. The growing need for cost-effective pilot training is a crucial factor that is driving market revenue growth. It serves as an artificial flight environment that is designed for both military and commercial purposes as the expense of flying an original aircraft significantly higher. These simulation systems require safety measures, improved engines, and reliable navigation and transmission systems, to ensure that there is no loss of human life while training. This factor is estimated to increase flight simulator adoption in the future.
A flight simulator is a device or machine that produces an artificial setting for flight and other purposes to train the pilot. Flight simulation is one of the best practices of virtual reality. It provides hands-on experience to the pilot and associated flight crews for operating the flights more reliably and securely. Likewise, pilots can practice in several complicated situations that might be faced by them during the time of actual flying.
Primary advantage of using flight simulator is that it can be operated easily by novice, without causing any problems in real aircraft, and there is no threat to the life of the pilot. Manufacturers are concentrating more on Research and Development (R&D) activities to produce a cost-effective and secure solution. Some flight simulators implement advanced synthetic environment that offers a realistic environment like the actual battle scenarioand weapon systems combined with computer models. Furthermore, technological improvements and increasing capabilities of Artificial Intelligence (AI) is expected to drive market revenue growth.
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Companies profiled in the global market report includes CAE, Inc., L3Harris Technologies, Inc, FlightSafety International, Boeing, Thales Group, Collins Aerospace, Airbus, Indra Sistemas, Raytheon Technologies and Avion Group.
Some Key Highlights from the Report
- In November 2021, Thales Group announced the expansion of its training portfolio with acquisition of RUAG’s Simulation and Training (S&T) business. RUAG is known for its laser-based Tactical Engagement Simulation Systems (TESS) sector. The acquisition will reinforce Thales relationship with Swiss Army and strengthen its footprint in Europe and the UAE.
- Services segment revenue is expected to grow at a rapid rate during the forecast period due to increase in maintenance cost of flight simulators. They are used for regular as well as primary training. Constant developments in technology and launch of new features are creating a demand for upgradation of simulation technology, which is also propelling revenue growth of the segment.
- Commercial aircraft simulator segment accounted for significant revenue share in 2020. Increase in commercial air traveling has created a demand for active efficient pilots which in turn is creating demand for flight simulator. There are more people traveling via air for business and pleasure due to globalization, which has propelled demand for commercial airline pilots.
- Full Flight Simulators (FFS) segment accounted for largest revenue share in 2020 and is expected to grow at a rapid rate during the forecast period. FFS provides excellent training capability for crew, pilot, and ground support. Full flight simulators are used for training business jet pilots, commercial pilots, rotary wing pilots and helicopter pilots.
- Market in North America accounted for largest revenue share in 2020, as this region has high flight simulator utilization rate. An increase in demand for air travel, which is the primary reason for the rising demand for pilot training, is anticipated to propel market growth. Presence of several OEMs in the region is also fueling growth of the market. OEMs in the region are partnering with airlines to strengthen their market positions within the region.
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For the purpose of this report, Reports and Data has segmented the flight simulator market based on solution, simulator type, application, and region:
Solution Outlook (Revenue, USD Billion; 2018–2028)
- Simulator Hardware
- Simulator Software
- Simulator Hardware Upgrade
- Simulator Software Upgrade
Simulator Type Outlook (Revenue, USD Billion; 2018–2028)
- Full Flight Simulators (FFS)
- Flight Training Devices (FTD)
- Flight Mission Simulators (FMS)
- Fixed Base Simulators (FBS)
Application Outlook (Revenue, USD Billion; 2018–2028)
- Commercial Aircraft Simulator
- Military Aircraft Simulator
- UAV Simulator
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Answered In The Report
- What will be the market size and growth rate in the forecast year?
- What are the key factors driving the global Flight Simulator market?
- What are the risks and challenges in front of the market?
- Who are the key players in the global Flight Simulator market?
- What are the trending factors influencing the market shares?
- What are the key outcomes of Porter’s five forces model?
- Which are the global opportunities for expanding the global Flight Simulator market?
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Table of Contents:
- Global Flight Simulator Market Overview
- Economic Impact on Industry
- Market Competition by Manufacturers
- Production, Revenue (Value) by Region
- Market Effect Factors Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Supply (Production), Consumption, Export, Import by Regions
- Production, Revenue (Value), Price Trend by Type
- Global Flight Simulator Market Forecast
- Global Flight Simulator Market Analysis by Application
- Manufacturing Cost Analysis
- Marketing Strategy Analysis, Distributors/Traders
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