Dublin, May 23, 2022 (GLOBE NEWSWIRE) -- The "Commercial and Military Flight Simulation - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Commercial and Military Flight Simulation Market to Reach $5.8 Billion by 2024
The global market for Commercial and Military Flight Simulation is projected to reach US$5.8 Billion by 2024, registering a compounded annual growth rate (CAGR) of 3.9% over the analysis period.
Flight simulation plays a crucial role in developing and training modern aircraft. Flight Simulation has evolved into an established technique that offers a true and vibrant demonstration of the behavior of an aircraft, while facilitating one or more operators, normally pilots, to interact with the simulation. Virtual reality, used for flight simulation, ensures real-time experience through 3D sound systems, high-degree of realism, and color environment.
The objective of flight simulation is to provide the user of the system a visual feeling of being in an aircraft. The core of flight simulation lies in the creation of illusion, offering the pilot a real-life experience. The fidelity of the created illusion decides the limit for what can and cannot be achieved in terms of read-across to the realism. In short, fidelity decides the suitability of a simulator.
Simulator extends a low cost training alternative for pilot training programs that entails extremely low risk, when compared to training involving actual aircraft. Since the need for actual aircraft becomes invalid with simulator-based training, the costs involved in aircraft-based training in the field such as purchase of expensive training aircraft and associated fuel and maintenance costs become invalid. Furthermore, the risks involved in field training such as aircraft crash and related events such as loss of life and property, also become irrelevant with simulator-based training.
The United States represents the largest regional market for Commercial and Military Flight Simulation, accounting for an estimated 45.5% share of the global total.
The market is projected to reach US$2.8 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 5.8% over the analysis period.
Momentum in the flight simulation technologies market is expected to remain steady in the coming years. Widespread acceptance of virtual flight environment for commercial as well as military aircraft training purposes and rising need for cost effective pilot training programs are poised to accelerate the market momentum during the current decade. At the same time, increased spending in aerospace training vertical is likely to create robust opportunity for flight simulator market.
Going forward, commercial and military aviation entities would continue to lean towards flight simulation technologies to leverage myriad benefits offered by these platforms such as end-to-end support to mission critical training programs, visual systems capable of offering near real world experience, and low operational costs. Furthermore, persistent need for flight handling and safety operations such as skill competency and situational awareness is also likely to augment market prospects.
Intensified R&D efforts in aerospace technology along with technological advancements leading to development of more sophisticated flight simulators with novel technologies such as AR/VR is likely to sustain market momentum in the coming years. More specifically, advancements in computing technology potentially result in integration of better motion and visual systems for enhanced smoothness and fidelity, while further improving simulation efficiency and reducing overall costs.
Technology improvements in various forms such as sophisticated portable simulators, which extend the flexibility to be carried to the site while offering lesser time, and lesser CAPEX and OPEX, would in fact are likely to play progressive role in future growth of the market.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- An Introduction to Commercial and Military Flight Simulation
- Historical Perspective
- Commercial and Military Flight Simulation: Current Market Scenario and Outlook
- Recent Market Activity
- Ongoing COVID-19 Outbreak: A Brief Note on Impact Assessment of Flight Simulation Market
- Flight Training Devices (FTD): The Largest Segment
- Full Flight Simulators Remain Relevant
- An Insight into the Development Phases of Full Flight Simulators
- Surging Demand for Flight Training Services
- Competitive Landscape
- Strategic Alliances and Collaborations: Key Competitive Factors
- L3Harris and CAE Dominate Military Simulators Market
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 88 Featured)
- Alsim Flight Training Solutions
- Bluedrop Performance Learning Inc.
- CAE, Inc.
- Collins Aerospace
- Cubic Corporation
- Elbit Systems Ltd.
- ELITE Simulation Solutions
- FlightSafety International, Inc.
- FRASCA International, Inc.
- HAVELSAN A.S.
- L3 Harris Technologies, Inc.
- Lockheed Martin Corporation
- Thales Group
- The Boeing Company
- TRU Simulation + Training Inc.
3. MARKET TRENDS & DRIVERS
- New Aircraft Models to Drive Growth
- Commercial Aviation Emerges as Major End-Use Sector for Flight Simulation
- Global Fleet of Commercial Aircraft (2017 & 2036) by Region (in Units)
- Demand for Civil Aviation Pilots Set to Accelerate in the Future - An Indication of Opportunity in Store for Commercial Flight Simulation Market
- Regulatory Safety Compliance Drives Demand for Flight Simulators in the Commercial Aviation Sector Aviation Sector
- Multi Crew Pilot Licensing Process to Support Demand for Simulators
- Opportunities in Military Aviation Sector
- Growth Drivers in a Nutshell
- Rising Global Security Concerns Propel Growth of Military Flight Simulator
- Review of Defense Budgets & Implications on Military Flight Simulation market
- New Generation Aircraft Drive Demand for Flight Simulation Products & Services in Commercial & Military Aviation Sectors
- Sophisticated Avionics Create New Opportunities for Flight Simulators
- Technology Advancements Instigate Robust Market Momentum
- Focus on Select Flight Simulator/Device Models
- Select Technology Innovations
- A Note on Importance of Flight Simulator Evaluation
- Aviation Training Devices - A Review
- Online Simulation Based Aviation Pilot Training Grows in Popularity
- Simulator Manufacturers Expand into the Training Services Field to Expand Revenue Opportunities
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
UNITED STATES
- Despite Military Budget Cuts, Military Simulation Sees Steady Growth Prospects
- Major Military Simulation Programs in the US
- Synthetic Training and Simulation Gains Acceptance in Military Sector
- US Air Force's New Office to Test Hypersonic Technology and Directed Energy Weapons
- Cyber Battle Laboratory of the US Army to Counter Cyber-Electromagnetic Activities
- Testing Aircraft Survivability - The Various M&S Approaches
- Importance of M&S for NATO
- Industry Consolidation Gives Birth to New Contracting Process
- FAA Proposes Overhaul of Flight Crew Training Programs
- Upgradation - Unavoidable at this Juncture
- Aviation Industry Obsessed with Outsourcing Trend
- Virtual and Constructive Training to Rule the Roost
CANADA
- Market Scenario
JAPAN
- Commercial and Military Flight Simulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
- Commercial and Military Flight Simulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
- Market Overview
EUROPE
- Commercial and Military Flight Simulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
- Market Overview
- Military Synthetic Training and Simulation
ASIA-PACIFIC
- Commercial and Military Flight Simulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
LATIN AMERICA
- Commercial and Military Flight Simulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
MIDDLE EAST
- Commercial and Military Flight Simulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
AFRICA
- Commercial and Military Flight Simulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ng8wvc
