(USGovernment-News.Com, August 24, 2022 ) The flight Simulator market size is projected to grow from USD 7.4 billion in 2022 to USD 10.3 billion by 2027, at a CAGR of 6.9% from 2022 to 2027. The Flight Simulator Market is likely to be driven by a rise in simulation use in the aviation sector due to increased concerns about aviation safety in the coming years. Additionally, escalating initiatives to cut total pilot training expenses have increased the demand for flight simulators. Furthermore, the expensive production and maintenance costs of an actual aircraft and the growing desire for better and more effective pilot training are expected to drive demand for such simulators during the forecasted years.
Based on the platform, the flight simulator market has been segmented into commercial, military, and unmanned aerial vehicles (UAVs). Key players are focused on developing advanced simulators to explore new market opportunities in airborne applications. The increase in the number of aircraft due to this growth is expected to lead to an increase in the demand for new pilots, which will drive the market for flight simulators in the commercial aircraft segment of this market.
Based on the solution, the flight simulator market has been segmented into products and services. These products and services are required for the maintenance of a simulator. The services segment is projected to register a higher CAGR during the forecast period. The frequent upgradation of software as per the training requirements in a simulator is expected to drive the services market.
The regions considered for the flight simulator market are North America, Europe, Asia-Pacific, the Middle East, and the Rest of the World. Asia Pacific is one of the prospective markets for commercial and military flight simulators, with the greatest CAGR expected throughout the projection period. The growing need for pilots is mostly due to a rise in air passenger traffic, particularly in nations such as India, Indonesia, South Korea, Australia, Vietnam, and the Philippines. To fulfill the increased demand for air traffic, the region's expanding airlines require additional pilots. Furthermore, in recent years, numerous new complete flight simulator facilities for training purposes have been established in China and India, including Shanghai - CAE, Zen Technologies, and CAE Guangzhou.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: