Global Flight Simulator (Full Flight Simulator (FFS), Fixed Flight Training Devices (FTD)) Market Analysis 2016-2024 - Market is Expected to Reach USD 5.62 Billion - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Flight Simulator Market Analysis By Product (Full Flight Simulator (FFS), Fixed Flight Training Devices (FTD)), By Application (Military & Defense, Civil), By Service And Segment Forecasts To 2024" report to their offering.

The global flight simulators market is expected to reach USD 5.62 billion by 2024

Increasing adoption of FFS owing to high fidelity and reliability is expected to provide adequate growth prospects over the coming years. Customers also opt for FTDs on account of their low operational costs, modular approach, real-time aerodynamic flight model, and remote configuration as well as management. The industry is expected to witness moderate growth over the forecast period owing to the aforementioned factors.

The need to effectively replicate real flying training with the usage of motion and visual systems has resulted in the introduction of sophisticated simulators in the market. Increase in government spending and growing security concerns particularly in the military sector is anticipated to escalate product demand significantly. The rising concerns over pilot training cost along with fluctuating fuel prices may further drive demand for flight simulators over the next eight years.

Further key findings from the report suggest:

  • The FFS product segment accounted for over 90% of the overall revenue in 2015 and is expected to grow at a CAGR of over 4% from 2016 to 2024. This growth is owing to features that provide motion, sound, visuals, and all other aircraft operations that create a realistic flight training environment.
  • The demand in civil application segment is primarily due to the rising air traffic coupled with the growing emphasis on the passenger as well as pilot safety. Governments in several countries have enforced strict regulations regarding the use and significance of simulation training.
  • The services segment is anticipated to grow at a CAGR exceeding 3.0% over the forecast period. This is primarily attributed to the rise in number of simulator installation by international airways.
  • Europe accounted for more than 30% of the overall market share in 2015 and is expected to exhibit a modest growth over the next eight years on account of the elevating enforcement of regulations pertaining to pilot training and passenger safety.
  • The Asia Pacific flight simulators market is estimated to exhibit a substantial growth over the forecast period in light of the growing aviation industry, resulting in the increasing demand for flight simulators. The Middle East & Africa is also projected to showcase a substantial demand of over 4%, which is primarily be attributed to the presence of carriers including Emirates, Etihad Airways, and Qatar that are investing heavily in this industry.
  • Prominent industry players include CAE, Boeing, L-3 Link Simulation & Training, Lockheed Martin, Rockwell Collins, Thales and SaaB. Industry participants emphasize on joint ventures, mergers and acquisitions in order to acquire greater financial, technical, marketing, manufacturing and distribution expertise.

For more information about this report visit http://www.researchandmarkets.com/research/j7f89n/flight_simulator

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Related Topics: Commercial Aerospace, Virtual and Augmented Reality

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Commercial Aerospace, Virtual and Augmented Reality