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
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