Pune, India, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The global pilot training market size was valued at USD 2.35 billion in 2021 and touched USD 2.96 billion in 2022. This market is estimated to reach USD 20.21 billion by 2029, exhibiting a CAGR of 31.55% during 2022-2029. The launch of technologically advanced aircraft and rising adoption of virtual reality are likely to fuel industry growth. Fortune Business Insights™ shares this information in its report titled “Pilot Training Market, 2022-2029.”
Air Travel Restrictions Hampered Market Progress During the Pandemic
This market was negatively affected during the COVID-19 pandemic due to restrictions on air travel. The alarming spike in COVID-19 infections led to the adoption of stringent government regulations on travel and transport. This factor reduced sales, thereby affecting the entire industry during the pandemic. Further, physical training restrictions hampered market growth. However, the post-COVID-19 pandemic phase empowered manufacturers to recommence their business activities and enhance sales. This factor elevated this industry’s progress during the pandemic.
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List of Key Players Profiled in the Report
- CAE Inc.(Canada)
- Lufthansa Aviation Training GmbH. (Germany)
- L3 Harris Technologies Inc.(U.S.)
- Flight Safety International (U.S.)
- Pan AM Flight Academy (U.S.)
- ATP Flight School. (U.S.)
- Thrust Flight. (U.S.)
- Airbus Flight Academy. (France)
- Indra Sistemas S.A (Spain)
- BAA Training (Lithuania)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 31.55% |
| 2029 Value Projection | USD 20.21 Billion |
| Base Year | 2021 |
| Pilot Training Market Size in 2021 | USD 2.35 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 192 |
| Segments Covered | By Training Mode Analysis, By Type of License Analysis, By Aircraft Type Analysis |
| Pilot Training Market Growth Drivers | Rising Demand for Skilled Pilots to Foster Industry Growth |
Segments
Flight Training Segment to Dominate due to Demand from Skilled Pilots
By training mode, the market is segmented into flight training and ground training. The flight training segment dominated the global market in 2021 due to the demand for flight training from skilled pilots.
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Commercial Pilot License to Grow at a Fast Rate Attributable to Rising Demand for Air Travel
As per type of license, the market is classified into student pilot license, private pilot license, commercial pilot license, airline transport pilot license, and others. The commercial pilot segment is likely TO grow at with the highest CAGR over the forecast period due to rising air travel demand.
Airplane Segment to Dominate Owing to Rising Aircraft Deliveries
Based on aircraft type, the market is categorized into airplane and helicopter. The airplane segment is likely to lead due to rising aircraft deliveries.
Regionally, the market is classified into North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Drivers and Restraints
Rising Demand for Skilled Pilots to Foster Industry Growth
Pilot training comprises a flight training syllabus encompassing ground and flight schools. It is conducted for 10 to 22 months. Increasing demand for skilled pilots may boost the adoption of advanced flight training methods. Furthermore, the rising adoption of safe travels worldwide is likely to elevate the adoption of advanced training systems. Moreover, the incorporation of advanced technologies and virtual reality is likely to elevate training systems’ adoption. Also, the incorporation of innovative technologies in aircraft is likely to boost the demand for pilot training systems. These factors may drive the pilot training market growth.
However, initial certification costs of pilot training are likely to hinder market progress.
Regional Insights
Presence of Major Players to Foster Industry Growth in North America
North America is projected to dominate the pilot training market share due to the presence of key players. The market in North America stood at USD 0.74 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Further, the presence of several airports and well-established training centers is likely to elevate market growth.
In Europe, the presence of numerous training centers for pilots such as Airbus Flight Academy may elevate the adoption of pilot training. Further, the presence of advanced simulator systems may bolster market progress.
Competitive Landscape
Key Players Enter into Partnerships to Provide Advanced Training to Pilots
The prominent companies operating in the market enter into partnerships to provide advanced training to pilots and enhance their brand image. For example, CAE partnered with Joby Aviation in June 2022. This partnership was undertaken by both companies for training pilots using the eVTOL platform. Joby Aviation shall overlook the landing aircraft and all-electric vertical take-off while CAE focuses on the provision and development of training devices. This strategy may enhance their product offerings and boost brand image. Furthermore, companies invest in innovations, research and development, industrial automation, and expansions to enhance their market position.
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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
- Key Insights
- Key Type of License 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 Pilot Training Market
- Impact of COVID-19 Pandemic on Global Pilot Training Market
- Steps Taken by Type of License/Companies/Government to Overcome the Impact
- Key Development in the Type of License in Response to COVID-19 Pandemic
- Potential Opportunities due to COVID-19 Outbreak
TOC Continued…!
Key Industry Development
- August 2022- CAE signed a 15-year partnership agreement with Qantas Group to start a new training center in Sydney, Australia.
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