Flight Simulator Market Takes Flight to USD 6.15 Billion with a Sky-High 6.89% CAGR Soar by 2030
Research Reports
Nov 17, 2023
Flight Simulator Market Overview:
The global flight simulators market for is expected to reach USD 6.15 billion by 2022 and grow at a 6.89% CAGR through 2030. There are mechanical and electrical components to flight simulation. Because it is more affordable than real flight training, it is frequently employed as a substitute. Due to its extensive use in virtual emergency evacuation, virtual military training, and virtual firefighting systems, the flight simulation solution has attracted a lot of attention in recent years. Additionally, this method has benefited every branch of the military, including the army, navy, and air force. Flight simulation is among the top virtual reality platforms. With the help of this flight simulator solution, pilots and flight crews can practise flying in a secure and safe environment.
Because of their effectiveness and efficiency, flight simulators are expected to have a larger market in the years to come. The commercial platform category currently dominates the world market for flight simulators. The demand for passenger and civil aircraft has increased during the last few years. As a result, it is anticipated that the rising demand for these aircraft would support the need for flight simulators and the expansion of the flight simulator market.
Although there are increasing opportunities for manufacturers on the worldwide market, the difficulty of flight simulator systems to precisely reproduce the physiological consequences of these systems could restrain the growth of the flight simulator industry.
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Flight Simulator Market Key Players
The global industry is investing in key players to provide innovations for the improvement of the flight simulator system, according to the Flight Simulator industry Forecast research. The growing need for training in the military and commercial sectors has created attractive prospects for market leaders and manufacturers of flight simulator systems in the global market.
The key players in the global market are L3Harris Technologies, Inc. (U.S.), Advanced Rotorcraft Technology, Inc. (U.S.), FRASCA International Inc. (U.S.), CAE Inc. (Switzerland), Lockheed Martin Corporation (U.S.), Boeing (U.S.), FlightSafety International (US), Thales Group (France), United Technologies Corporation (UTC) (U.S.), TRU Simulation + Training Inc. (U.S.).
Flight Simulator Market- Segmentation
According to platform sector, the global market for flight simulators has been divided into two categories: military aerospace and commercial aerospace.
Based on the aircraft type segment, the global market for flight simulators has been divided into rotary-wing aircraft, fixed-wing aircraft, and UAV.
In the sector of simulator type, the global market for flight simulators has been divided into virtual simulation and lives simulation.
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Flight Simulator Market – Regional Analysis
Region-based categories for the Flight Simulator Global Market include North America, the Middle East, Africa, Asia-Pacific, Europe, and Latin America. With a larger Flight Simulator Market Size of USD 1,855.2 million in 2018, the North American market led the world market in 2018.
Furthermore, due to the presence of advanced military and commercial infrastructure and the favourable defence laws and regulations in the region, the North American market is expected to account for 4.26% CAGR throughout the research period. Due to its high correlation to global military spending and technical breakthroughs, this region boasts advanced simulation and training systems. The U.S. area generally controls the trends in the worldwide flight simulator market, however the Canadian region invests more in the creation of cutting-edge systems.
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