DUBLIN--(BUSINESS WIRE)--The "Flight Simulator Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The global flight simulator Market is anticipated to Grow at CAGR of 5.5% by 2031. Flight simulator provides artificially re-created flight environment for both commercial and military purposes.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
Growing need for cost effective pilot training is a key factor, positively impacting the flight simulator market growth. This factor is set to increase its adoption in both military and civilian verticals. Thus, with consistently growing pilot training needs, the market would continue exhibiting promising growth over the forecast period.
Flight simulator manufacturers are focusing more on R&D activities to develop cost effective and reliable solution. Some flight simulators provide Advanced Synthetic Environment (ADS), offering realistic environment including actual war fighting and weapon systems integrated in computer models.
Moreover, technological advancements and growing capabilities of AI positively impacting flight simulator market growth. Additionally, technological enhancements such as 3D graphics, high resolution display and real time interaction are some other factors influencing market demand for flight simulators.
The need to ensure aviation safety in flight handling, including situation awareness and skill competency also promote the flight simulation market growth. R&D efforts directed towards virtual reality and artificial intelligence advancements has resulted in highly naturalistic flight simulators, thus offering navigation and motion control mechanism. Similarly, development of realistic aircraft system logic coupled with ECAM displays, significantly growing market demand for flight simulator market.
High manufacturing and maintenance cost coupled with high complexity are some of the factors, hampering flight simulator market growth. Difficulty for manufacturers to keep pace with the growing aviation industry is also one of the restraining factors for market growth.
Based on Applications, flight simulator market is segmented into commercial and military segments. The commercial flight simulator (especially, Full Flight Simulator) segment is expected to witness incremental growth during the forecast period, owing to the rising training needs for commercial pilots.
Asia Pacific led flight simulator market in 2022 and it's expected to continue its dominance throughout the forecast period, and also projected to grow owing to high demand for air travels. Similarly, Middle East, Latin America and Africa too have positively contributed to the overall market for military flight simulators on account of ongoing threat of terrorism. Moreover, China on account of its recent territorial disputes with its neighbouring countries such as India and Japan, is expected to witness incremental growth in procurement of military aircraft simulators in the years to come.
Market Dynamics
Drivers
- Rising need for new pilots over the aerospace segment
- Increasing adoption of virtual training to ensure safety
- Gradually increasing fuel prices
- Cost-cutting in pilot training
Restraints:
- Longer product lifecycle
- Lack of interoperability
- High cost of simulators
Opportunities:
-
Development of simulators for unmanned aerial systems
Usage in air accident investigations
Challenges:
- Stringent regulatory approvals
- Reduction of weight and size to maintain advanced features
Companies Mentioned
- CAE Inc.
- L3Harris Technologies, Inc.
- Thales SA
- Saab AB
- Flight Safety International
- The Boeing Company
- Airbus S.A.S.
- Tru Simulation + Training Inc.
- Raytheon Company
Market Segmentation
Vehicle Class
- Fixed wing
- Rotary wing
- Unmanned Aircraft
Application
- Military application
- Commercial application
Type
- Full Flight Simulator (FFS)
- Full Mission Simulator (FMS)
- Flight Training Devices (FTD)
- Fixed Base Simulator (FBS)
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Flight Simulator market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Flight Simulator market?
- Which is the largest regional market for Flight Simulator market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Flight Simulator market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Flight Simulator market worldwide?
For more information about this report visit https://www.researchandmarkets.com/r/vzn1vu
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