Global Flight Simulator Market Size Is Surpassing USD 12.6 Billion by 2030, Growing at Projected 6.5% CAGR
The aviation industry’s increased use of simulation as a result of growing safety concerns is anticipated to fuel the growth of the flight simulator market during the upcoming years. North America region, which currently dominates the market’s revenue share, is anticipated to remain one of the most alluring markets during the projection period.
Newark, Oct. 23, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 7.15 Billion in 2021 flight simulator market will reach USD 12.6 Billion by 2030. Simulations are used to duplicate or reproduce a system or an event in order to gain expertise and knowledge in an area. Simulators are necessary for risk-reduced experimentation with complex scenarios. A flight simulator is an electrical and mechanical device that simulates flight conditions while educating pilots and other crew members. The benefit of being used to the handling, operations, and flight conditions of actual flights is that it helps the trainees.
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Key Insight of the Flight Simulator Market
North America emerged as the most significant market, with 8.45% market revenue share in 2021.
North America dominated the market, with a market share of around 8.45% in 2021. The use of simulators for training purposes in North America is subject to stringent regulations set forth by the Federal Aviation Administration (FAA) and Federal Aviation Regulations (FARs). Air carriers must offer training programmes using simulators that correspond to the updated standards as per new FAR regulations.
The full flight simulator segment is expected to grow at the highest CAGR of 9.17% over the forecasted period.
Over the projected period, the full flight simulator segment is anticipated to grow at the highest CAGR of 9.17%. These systems are becoming increasingly popular due to their high fidelity, simulation accuracy, dependability, and capacity to more effectively identify weaknesses like a susceptibility for pilot-induced oscillation.
The commercial segment is expected to grow at the highest CAGR of 9.57% over the forecasted period.
Over the projected period, the commercial segment is anticipated to grow at the highest CAGR of 9.57%. The number of passengers flying internationally is rising, which is increasing demand for new commercial aircraft deliveries.
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Driver: Flight simulator market growth will be accelerated by the high demand for active pilots
The aviation industry has grown quickly during the last few years. This is linked to an increase in tourism-related activities and international air traffic. It has been demonstrated that these factors help airline operators maximise the revenue they receive from passengers. The increasing demands placed on commercial pilots are one of the primary reasons people leave the job before reaching retirement age. The diminishing workforce in many countries is directly tied to the shortage of certified pilots. The exponential rise in air passenger traffic has generated demand for more flights at higher frequencies and lighter loads for commercial pilots. The airline enterprises were operated utilising commercial planes at maximum load factors in order to obtain large profit margins and greater income.
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Some of the major players operating in the flight simulator market are:
• Airbus Group N.V.
• Avion Group, CAE, Inc.
• Collins Aerospace
• Elite Simulation Solutions
• Indra Sistemas Sa
• L-3 Communications Holdings Inc.
• Precision Flight Controls Inc.
• Flightsafety International
• Frasca International, Inc.
Key Segments cover in the market:
• Full Flight Simulator(FFS)
• Full Mission Simulator (FMS)
• Flight Training Devices (FTD)
• Fixed Base Simulator (FBS)
• Cockpit procedures trainer
• Military Defense
• Asia Pacific (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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