The Flight Simulator by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Flight Simulator , The flight simulator market size has grown steadily in recent years. It will grow from $5.5 billion in 2023 to $5.62 billion in 2024 at a compound annual growth rate (CAGR) of 2.2%. The growth in the historic period can be attributed to globalization of aviation training, training effectiveness and realism, military applications, airline industry expansion, regulatory requirements.
The flight simulator market size is expected to see steady growth in the next few years. It will grow to $6.44 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to industry regulation and certification, expansion into general aviation, virtual training trends, cost-efficiency in training, demand for realistic and scenario-based training.. Major trends in the forecast period include pilot training demand, transition to virtual training, regulatory compliance, rising demand in commercial aviation.
The increasing demand for new commercial and military pilots is driving the growth of the flight simulator market. Increasing purchase of new commercial aircraft and military aircraft by air transport providers and government organizations to meet their ongoing requirements are boosting demand for new commercial and military pilots. The demand for new pilots is predicted to boost demand for the simulators, as they are vital components in pilot training according to the regulatory requirements. For instance, in 2021, according to the Boeing report, over the next two decades, 612,000 new pilots will be required worldwide, with 130,000 of these in North America, primarily the U.S respectively. In addition, Airbus’ Commercial Market Outlook report estimates around 40,000 new aircraft will be ordered in a similar timeframe, representing over 450,000 pilots. Therefore, increasing demand for new commercial and military pilots is expected to propel the growth of the flight simulator market in the coming years.
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The flight simulator market covered in this report is segmented –
1) By Simulator Type: Virtual Simulation, Live Simulation
2) By Platform: Commercial Aerospace, Military Aerospace
3) By Aircraft Type: Rotary-Wing Aircraft, Fixed-Wing Aircraft, UAV
Technological advancement is a key trend gaining popularity in the flight simulator market. Major market players are concentrating their efforts on creating innovative technologies and more on research and development (R&D) activities to produce cost-effective and secure solutions. For instance, in July 2022, CAE Inc., a Canada-based simulation technologies, training services and modelling technologies manufacturer, unveiled the CAE 700MXR Flight Simulator, the industry’s most recent innovation in pilot training. With a small mini-motion platform and 3600 field of view visuals that give high-fidelity, physics-based simulation geared to single-pilot operations, the CAE 700MXR, which is initially aimed at the eVTOL industry, will revolutionise flight training for challenging urban environments. Pilots will be able to take advantage of improved 3D perception and AI-based digital capabilities to fully engage in realistic, low-level flying scenarios thanks to CAE’s next-generation immersive synthetic out-the-window environment, which is combined with a mixed reality head mounted display and real cockpit controls and instrumentation.
The flight simulator market report table of contents includes:
1. Executive Summary
2. Flight Simulator Market Characteristics
3. Flight Simulator Market Trends And Strategies
4. Flight Simulator Market – Macro Economic Scenario
5. Global Flight Simulator Market Size and Growth
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26. South America Flight Simulator Market
27. Brazil Flight Simulator Market
28. Middle East Flight Simulator Market
29. Africa Flight Simulator Market
30. Flight Simulator Market Competitive Landscape And Company Profiles
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