PUBLISHER: Acute Market Reports | PRODUCT CODE: 1248119
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1248119
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. 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 neighboring countries such as India and Japan, is expected to witness incremental growth in procurement of military aircraft simulators in the years to come.
CAE Inc. (Canada), L3Harris Technologies, Inc. (US), Thales SA (France), Saab AB (Sweden), Flight Safety International(US), The Boeing Company (US), Airbus S.A.S. (Netherlands), Tru Simulation + Training Inc. (US), Raytheon Company (US) And Others.
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.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Flight Simulator market are as follows:
Micro and macro environment factors that are currently influencing the Flight Simulator market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.