New York, July 11, 2019 (GLOBE NEWSWIRE) -- The rising production cost of aircraft and demand for technologically advanced devices are expected to spur the growth
The Flight Simulator Market is expected to reach USD 8.03 Billion by 2026, according to a new report by Reports and Data. A flight simulator is a device or a machine that produces an artificial setting of flight and other purposes to train the pilot. Flight simulation is one of the best practices of virtual reality. It provides hands-on experience to the pilot and the associated flight crews of operating the flights more reliably and securely. Likewise, pilots can practice in several complicated situations that might be faced by them during the time of actual flying.
It serves as an artificial flight environment that is re-designed for both military and commercial purposes as the expense of flying an original aircraft is more costly. These aircraft require safety measures, improved engines, and reliable navigation and transmission systems, and there is no loss of human life also. The growing need for cost-effective pilot training is a crucial factor that is impacting market growth positively. This factor is estimated to increase its adoption in the coming years. One of the significant factors that restrict the growth of the market is the production cost of flight simulators.
However, the primary advantage of using this device is that it can be operated by reducing maintenance of the aircraft, without harming the real aircraft, and also there is no threat to the life of the pilot. Manufacturers are concentrating more on R&D activities to produce a cost-effective and secure solution. Some flight simulators implement Advanced Synthetic Environment (ADS) that offers a realistic environment like the actual war fighting and weapon systems combined with computer models. Furthermore, technological improvements and increasing capabilities of AI is expected to drive the market growth.
North America is expected to be the highest revenue generating region with the largest share of 29.3% of the market in 2018, and this region has the most substantial simulator utilization rate. Soaring demand for air travel, which is the primary reason for the heightened need for pilot training, is anticipated to increase the market growth. Also, the appearance of OEMs in the region is boosting the growth of the market in North America. OEMs in the area are partnering with airlines to ensure their market positions within the region.
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Further key findings from the report suggest
- Based on Application, the market is segmented into Piloted Aircrafts, UAV.
- The Piloted Aircrafts Application segment accounts for the largest market share in 2018.
- The Piloted Aircrafts uses simulators that are used for armed forces for training and mission rehearsals.
- This market is expected to see increasing cooperation, consolidation, and collaboration among the current market players over the next few years.
- The Unmanned Ariel Vehicles (UAVs) segment is expected to grow at the highest rate of 5.0% during the forecast period.
- Growing demand for drone simulators for drone pilots and practical training is a driving factor for the growth of the market for UAVs.
- Based on Offering, the market is classified into Product, and Services respectively.
- The Product segment is expected to grow at the higher rate of 5.0% during the forecast period.
- The hardware product is intended to combine with fixed or mobile platforms, which enables these devices to be more user-friendly.
- Also, the increase in the need for sophisticated and advanced flight simulator hardware parts is anticipated to propel the demand for the products segment, which, in turn, is propelling the demand of the overall market.
- Constant upgrade of hardware parts from various pilot education institutes is another factor that is encouraging the growth of the segment.
- Growing technological advancement is also assumed to drive the growth in the next few years.
- One of the significant players CAE, partnered with JetBlue Airways (US) in April 2019, to present 2 Airbus A220- 300 CAE 7000XR Series full-flight simulators and 2 CAE 500XR flight training devices.
- CAE extended its customer base in the market with this partnership.
- The market of the Asia Pacific region is expected to witness the highest CAGR of 5.9% during the forecast period.
- Due to the rising demand for these devices, especially in emerging countries such as China and India, this region is expected to grow at a steady rate in the coming years.
- Key participants include CAE, Boeing Company, Fidelity Technologies Corporation, Collins Aerospace, Aussie Star Flight Simulation, Flight Safety International, L-3 Communications, Raytheon Company, Precision Flight Controls, SIMCOM Aviation Training, Frasca International, TRU Simulation + Training, Airbus Group, Indra Sistemas, Thales Group.
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the global Flight Simulator Market on the basis of Offering, Application, Simulator Type and region:
Offering Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- Product
- Services
Application Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- Piloted Aircrafts
- Military & Defense
- Commercial
- UAV
- Military & Defense
- Commercial
Simulator Type Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- FFS
- FTD
- FMS
- FBS
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
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