Pune, India, Feb. 11, 2021 (GLOBE NEWSWIRE) -- According to the new report published by Fortune Business Insights™, The global UAV simulator market size is projected to reach USD 2,277.3 million by 2027, exhibiting a CAGR of 16.76% during the forecast period. The deployment of drones to combat the COVID-19 pandemic has brightened the prospects of this market. Unmanned aerial vehicles (UAVs) have been playing a critical role in aiding countries to navigate their economies through the coronavirus crisis. For example, in Switzerland, Swiss Post and Matternet teamed up to utilize drones to transport lab samples between hospitals in three Swiss cities.
Wing, a company owned by Alphabet (Google’s parent company), has been actively partnering with local shops in Australia, Finland, and Virginia (USA) to deliver consumer goods to customers. The unusual circumstances created by COVID-19 have, thus, presented UAV with a unique opportunity to visualize different crisis scenarios and develop UAV simulators embedded with such backdrops to train pilots and operators and prepare them more efficiently. As per the report, in 2019, the market’s value stood at USD 659.4 million.
List of Key Companies Profiled in the UAV Simulator Market are:
- Leonardo S.P.A (Italy)
- SILKAN (France)
- Zen Technologies Ltd. (India)
- Textron Inc.
- L3 Harris Technology Inc.
- General Atomics Aeronautical Systems Inc. (U.S)
- Singapore Technologies Electronics Limited (Singapore)
- Northrop Grumman Corporation (U.S.)
- Israel Aerospace Industries Ltd. (IAI)
- CAE Inc. (Canada)
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Regional Insights
Investments by Private Players in Drone Technology to Stimulate Market Growth in North America
North America dominated the UAV simulator market share in 2019, boasting a market size of USD 250.6 million. The primary reason for the region’s leading market position is the huge investments made by private drone companies and defense entities towards advancing drone technologies. Further, these companies are aggressively strengthening their partnerships with the region’s armed forces, thereby promoting the adoption of UAVs for military operations.
The market in Asia Pacific is poised to make prolific progress as countries in the region are steadily increasing their defense budgets and actively teaming up with private drone contractors. In Europe, policies framed by the European Commission to support the future growth of the region’s aviation industry are expected to generate numerous opportunities for drone makers in the next few years.
Competitive Landscape
Proactive Government Initiatives to Create Healthy Competitive Climate
Active participation of governments to acquire modern drone technologies is prompting key players in this market to raise their investments in innovation and R&D. Aside from this several governments are also engaged in providing high-quality training to pilots and operators using UAV simulators to bring new efficiencies in their military surveillance systems.
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Driving Factor
Incorporation of Virtual & Augmented Reality in Drone Simulations to Fuel the Market
The UAV simulator market growth is getting positively influenced by the integration of virtual reality (VR) and augmented reality (AR) in drone simulation systems by companies. For example, DronOSS, a German UAV startup, has adopted AR tools to simulate obstacles and lifelike structures to train drone pilots. The sensors and cameras attached to the drone allow the operator to pilot the device, to minimize the probability of crashing the drone in a real-world situation.
Similarly, in 2018, engineers at the Massachusetts Institute of Technology (MIT) created a novel VR-based training system for UAVs that allow these vehicles to see a virtual environment while flying through space. The system has been conceived to reduce the number of drone crashes during actual training sessions. Recognizing the potential of drones in carrying out different functions, several industry verticals have been deploying these devices to conduct critical operations. Xcel Energy, for instance, became the first utility in the US to use a beyond the visual line of sight (BVLOS) drone for inspection activities. Increasing usage of VR and AR to make UAVs smarter is fostering the long-term growth prospects of this market.
Key Industry Developments:
- November 2020: India’s Ministry of Civil Aviation launched a program to recruit and train UAV pilots as part of its ambition to make the commercial deployment of drones a reality in the country. The Indira Gandhi Rashtriya Udaan Academy, a flight training owned by the government, will be expanding its facilities to train drone pilots.
- November 2020: Beihang UAS Technology, a Chinese UAV specialist, secured a contract worth 95.5 million baht from the Royal Thai Army (RTA) to develop and deliver a UAV flight simulator to the Artillery Division of the RTA.
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https://www.fortunebusinessinsights.com/uav-simulator-market-market-104081
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global UAV simulator Market
- Impact of COVIC-19 Pandemic on the Global UAV simulator Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
- Global UAV simulator Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Fixed Wing
- Quad-copter
- Helicopter
- Market Analysis, Insights and Forecast – By Component
- Hardware
- Software
- Market Analysis, Insights and Forecast – By Platform
- Military & Defense
- Commercial
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of World
TOC Continued…!
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Have a Look at Related Research Insights:
Unmanned Aerial Vehicle Market Size, Share & COVID-19 Impact Analysis, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027
Flight Simulator Market Size, Share and COVID-19 Impact Analysis, By Type (Full Flight Simulator, Flight Training Devices, Fixed Based Simulator, and Full Mission Simulator), By Platform (Fixed Wing Simulator, Rotary Wing Simulator, and UAV Simulator), By Application (Commercial, and Military & Defence), and Regional Forecast, 2020 – 2027
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