Pune, India, July 12, 2023 (GLOBE NEWSWIRE) -- The global flight simulator market size was valued at USD 4.38 billion in 2022 and is projected to grow from USD 4.89 billion in 2023 to USD 6.99 billion by 2030, exhibiting a CAGR of 5.25% during the forecast period.
A mechanical and electrical device that replicates the experience of flying an aircraft is a flight stimulator. This device is used for advanced technology, such as motion systems, accurate flight dynamics, and computer-generated graphics, to develop a highly interactive training and immersive training experience.
This information is provided by Fortune Business Insights™ in its research report titled “Flight Simulator Market, 2023-2030.”
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List of Key Players Mentioned in the Flight Simulator Market Report:
- CAE Inc. (Canada)
- FlightSafety International Inc. (U.S.)
- L3Harris Technologies Inc. (U.S.)
- The Boeing Company (U.S.)
- Thales Group (France)
- TRU Simulation + Training Inc. (U.S.)
- Raytheon Technologies Corporation (U.S.)
- Indra Sistemas S.A. (Spain)
- Aero Simulation Inc. (U.S.)
- HALVESAN (Turkey)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.25% |
| 2030 Value Projection | USD 6.99 Billion |
| Market Size in 2023 | USD 4.89 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 188 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Flight Simulator Market Growth Drivers | Shortage of Pilots in the Aviation Industry is Expected to Boost the Global Flight Simulator Market Growth |
| Rising Demand for Simulators from the Defense Sector is Expected to Propel Market Growth |
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Segments:
Increasing Demand for Full Flight Simulators Segment and High-Skilled Pilots to Dominate Market Growth
On the basis of type, the market is categorized into Flight Training Devices (FTD) and Full Flight Simulator (FFS). FFS can replicate a series of a specific aircraft cockpit and a specific type or model. FFS is anticipated to dominate the market share and is projected to be a rapidly growing segment during the projected period owing to increased demand for high-skilled pilots.
UAV Simulator is Projected to Command the Market Due to Rising Demand for Drone Pilots
Based on platform, the market is divided into fixed wing simulator, rotary wing simulator, and UAV simulator A fixed-wing simulator is a device designed to replicate the flight characteristics and systems of fixed-wing aircraft. The fixed wing simulator segment is expected to have the highest market share due to the expanding fleet of aircraft and increasing air traffic.
Commercial Segment to Lead Due to Growing Demand for Aircraft Simulators from Pilot Training Organizations
According to application, the market is segmented into military and commercial. The commercial segment leads the market is predicted to be the rapidly growing segment due to the increasing demand for aircraft simulators from pilot training organizations globally.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
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Drivers and Restraints:
Growing Demand for Simulators from the Defense Sector to Drive the Market Growth
Simulators offer realistic combat training, which allows military pilots to enhance their skills and stimulate various combat scenarios. They deliver the dynamics of tactical scenarios, aircraft operation, and weapon systems, which allow military pilots to develop and refine their combat skills, such as air-to-ground attacks, air-to-air engagements, and precision targeting, in a controlled and safe environment.
The production and development of aircraft simulators need a lot of financial investments. Moreover, simulators need to be updated daily to meet the changing standards in aviation, which adds to the investment costs, thereby hindering the flight simulator market growth.
Regional Insights:
North America to Dominate the Market Owing to the Presence of Major OEMs
North America led the flight simulator market share in 2022, and its growth is attributed to the presence of major OEMs. The training business is one of the biggest acquisitions in the market and approximately doubles CAE’s core military training business in the U.S.
Europe witnessed the second-largest share in the base year. Focusing on safety and risk mitigation, the demand is increasing for aircraft simulators for cost-effective training.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest Technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of COVID-19 Pandemic on Global Flight Simulator Market
- Global Flight Simulator Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definition
- Market Analysis, Insights and Forecast - By Type
- Full Flight Simulator
- Flight Training Devices
- Market Analysis, Insights and Forecast - By Platform
- Fixed Wing Simulator
- Rotary Wing Simulator
- UAV Simulator
- Market Analysis, Insights and Forecast - By Application
- Commercial
- Military
- Market Analysis, Insights and Forecast - By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Flight Simulator Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast - By Type
- Full Flight Simulator
- Flight Training Devices
- Market Analysis, Insights and Forecast - By Platform
- Fixed Wing Simulator
- Rotary Wing Simulator
- UAV Simulator
- Market Analysis, Insights and Forecast - By Application
- Commercial
- Military
- Market Analysis, Insights and Forecast - By Country
- U.S. (By Application)
- Canada (By Application)
- Market Analysis, Insights and Forecast - By Type
Competitive Landscape:
Leading Players Focus on Product Innovations, UAV Simulators, Mergers & Acquisitions, and Emerging Markets
The key players in the market are FlightSafety International Inc., CAE Inc., the Boeing Company, L3Harris Technologies Inc., Thales Group, and others. Prominent players focus on emerging markets, technological advancements, mergers & acquisitions, UAV simulators, and product innovations to grow their market share.
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Key Industry Development:
- July 2022: L3Harris Technologies Commercial Aviation Solutions (L3 CAS), a manufacturer of aircraft simulators and a flight training provider, and Zhuhai Xiangyi Aviation Technology entered into a Memorandum of Understanding (MOU) to discover the production of FFS for the commercial aviation market in China.
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