Significant investments in r & d activities and rapid adoption of Internet of Things (IoT)-based devices are major factors driving flight simulator market

VANCOUVER, BC, CANADA, January 3, 2023 /EINPresswire.com/ -- The global flight simulator market size reached USD 6.90 Billion in 2021 and is expected to register a revenue CAGR of 6.7% during the forecast period, according to latest analysis by Emergen Research. Consumers growing desire for air travel is a primary factor driving market revenue growth. In addition, rising disposable income and increased air travel affordability among others are all contributing to market revenue growth. India, Indonesia, and other countries are seeing an increase in start-ups connected to enhanced flight simulator systems. This is primarily owing to the increased number of aviation training institutes in these countries. The rising need for qualified pilots in various countries is a major factor driving market revenue growth. For instance, the aviation industry has experienced rapid growth in recent years. This is attributable to a rise in global aviation traffic and tourism activities.

Significant investments in research & development activities and rapid adoption of Internet of Things (IoT)-based devices are major factors driving flight simulator market revenue growth

Rapid use of simulators due to worker reskilling is a key factor driving market revenue growth. Many businesses have identified reskilling as a critical concern. As a result, approaches based on tried-and-true learning methodologies and cutting-edge technology have the potential to improve the effectiveness and efficiency of skill training. People are placed in immersive, true-to-life environments where they practice skills acquisition in situations that mimic job conditions. These immersive settings frequently include game components, which increase motivation, attention, and learning. In the aviation business, for instance, pilots use flight simulators because their training necessitates reinforcement, periodic upgrading in new settings, and continual motivation, all of which are byproducts of a good developmental process.

The major companies Covered in the report are:

CAE Inc., L3Harris Technologies, Inc., Thales, Saab, Boeing, Airbus, ELITE Simulation Solutions, SIMCON Aviation Training, Precision Flight Controls, and Avion Group.

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The report also presents the country-wise and region-wise analysis of the Emergen Research and includes a detailed analysis of the key factors affecting the growth of the market.

Competitive Landscape:

The market intelligence report on the Flight Simulator Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.

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Emergen Research has segmented the global flight simulator market on the basis of method, type, platform, and region:

Method Outlook (Revenue, USD Billion; 2019-2030)

Synthetic

Virtual

Type Outlook (Revenue, USD Billion; 2019-2030)

Flight Training Devices

Full Flight Simulators

Full Mission Flight Simulators

Fixed Base Simulators

Platform Outlook (Revenue, USD Billion; 2019-2030)

Commercial

Military

Regional Outlook (Revenue, USD Billion; 2019-2030)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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Key highlights of this research report:

The virtual segment accounted for a significant revenue share in 2021. Increasing penetration of Virtual Reality (VR) headsets in the aviation industry and rapid adoption of interconnected devices are major factors driving the segment’s revenue growth. VR-based pilot training is a strong tool in aviation that is used for a variety of reasons, including flight maintenance training by huge organizations such as the United States Air Force and others. Furthermore, because training a pilot is an expensive operation, airlines, space agencies, and air forces use specialized flight simulators. VR also provides excellent opportunities for addressing issues such as mobility and efficiency, depth perception, and others.

The flight training devices segment accounted for a significant revenue share in 2021. Significant investments in modernizing training capabilities is a major factor driving the segment’s revenue growth. For instance, on 22 November 2022, Textron Aviation Defense announced the delivery of a Beechcraft T-6C Texan II integrated system to the Tunisian Air Force to assist operations at No. 13 Squadron at the Sfax air base in Tunisia. In addition, Foreign Military Sales (FMS) contract includes eight T-6C Texan II advanced military training aircraft, in-country field service and logistics representatives, program management support, interim contractor support for the first year, pilot and maintenance professional training, spare engines, spare parts, and aircraft support equipment. Rapid adoption of Science, Technology, Engineering, and Mathematics (STEM) lessons in various countries is a major factor driving the segment’s revenue growth in various regions.

The commercial segment accounted for a significant revenue share in 2021. Increasing awareness among students regarding the various benefits of flight simulators is a major factor driving the segment’s revenue growth. In addition, flight simulators prepare students for the realities and unexpected outcomes that they may encounter while flying a plane. Students can also hone their skills and knowledge because of difficult situations. Commercial pilot training institutes operating in various countries are rapidly adopting flight simulators due to their significant impact in improving proficiency, mastering weather problems, and improving navigational abilities among others.

Market in North America accounted for the largest revenue share in 2021. Rapid adoption of virtual pilot training is a major factor driving the market revenue growth in this region. Virtual pilot training is becoming increasingly popular in the region due to a variety of benefits such as excellent training with a real-time perspective, less environmental impact, and cost-effectiveness. Increasing presence of market companies and the wide availability of active pilots are other key factors contributing to the market revenue growth in the region.

The professional intelligence study on the Flight Simulator market addresses some of the most critical questions:

What market size will 2031 be, and what growth rate will it experience?

What are the key trends in the Market?

What are the driving forces behind the Flight Simulator market?

What are the obstacles to market growth?

Which are the top vendors in this space?

What are the threats and opportunities in the market for key vendors?

What are the strengths or weaknesses of critical vendors?

What are the future opportunities for the players in the Flight Simulator market?

What are the main issues facing the global Flight Simulator market?

How does the competitive landscape look?

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Table of Contents:

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

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