Pune, India, Oct. 26, 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 flight simulator is an electronic and mechanical training apparatus designed to emulate the sensation of operating an aircraft. It offers a lifelike virtual setting in which pilots can hone and enhance their aviation expertise, all without the necessity of a physical aircraft. These systems employ cutting-edge technologies, including computer-generated visuals, motion platforms, and precise flight mechanics, to construct an exceptionally immersive and interactive training environment.
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:
Type of Flight Simulator:
- Full Flight Simulator (FFS)
- Flight Training Device (FTD)
- Advanced Aviation Training Device (AATD)
- Others
End-User:
- Commercial Aviation (Airlines, Airports, etc.)
- Military Aviation (Air Forces, Defense Organizations, etc.)
- General Aviation (Training Schools, Enthusiasts, etc.)
Technology:
- Hardware (Visual Systems, Motion Systems, Control Loading Systems)
- Software (Flight Dynamics, Computer-Generated Graphics)
- Services (Training, Maintenance, Support)
Aircraft Type:
- Fixed-wing Aircraft
- Rotary-wing Aircraft (Helicopters)
Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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.
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Report Coverage:
The report on the Flight Simulator Market provides a comprehensive coverage of the industry, offering valuable insights into its major growth drivers, restraining factors, opportunities, and potential challenges. It delves into regional developments, highlighting key trends and dynamics specific to different areas. The report also includes a list of major industry players, shedding light on the key contributors to the market. Furthermore, it outlines the key strategies adopted by these market players to maintain and enhance their positions in the industry. Additionally, the report keeps you up-to-date with the latest industry developments, encompassing product launches, strategic partnerships, mergers, acquisitions, and other notable events, ensuring you are well-informed about the current state of the Flight Simulator Market.
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.
Read Related Insights:
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Simulator Market to Hit USD 28.78 Billion by 2030 | At a CAGR of 6.9%
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