VANCOUVER, BC, Jan. 3, 2023 /PRNewswire/ — Flight simulator market size reached USD 6.90 Billion in 2021 and is expected to register a CAGR of 6.7% during the forecast period, according to latest analysis by Emergen Research. Significant investments in renovating contact centers and training leaders to develop confident top-performing with simulation training is a major factor driving the market revenue growth. Shortage of skilled pilots in various countries and significant investment in pilot training infrastructure are other key factors contributing to the market revenue growth in various countries.
For instance, Air India plans to acquire specialists with specific talents to suit its requirements on the Boeing 777 fleet via a placement service, and these pilots were promised higher compensation, attractive terms, and great benefits thereby contributing to the increasing demand for flight simulators.
Drivers:
Increasing air passenger traffic has necessitated the inclusion of new flight frequencies and the reduction of extra loads by commercial pilots. However, airline companies were earlier operating using commercial planes at maximum load factors to achieve huge profit margins and additional revenue. Global enterprises are seeing improved earnings and lower operational expenses as a result of the increasing load factor.
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Airbus S.A.S. and other companies anticipated in 2019 that 39,000 or more new aircraft would be operational by 2028. These factors are expected to fuel future demand for new, professionally prepared pilots and first officers thereby contributing to the market revenue growth in various countries.
Increase in aviation traffic and significant investments in tourism activities are major factors driving the market revenue growth. These criteria have been seen to assist airline operators in maximizing revenue from air passengers. However, increasing demand for commercial pilots with advanced and enhanced skills is key for leaving the job before retirement age. The diminished workforce has had a direct influence on the lack of trained pilots in several countries.
These reasons are projected to increase demand for training systems such as these simulators in order to prepare pilots for commercial airlines in the future. As a result, rising demand for active pilots around the globe is expected to drive market revenue growth.
Restraints:
Aircraft simulator systems are made up of numerous computer systems that handle various aspects. These systems provide actual flight control applications. Cloud, precipitation, air density, and turbulence are all consequences of aircraft systems and their reactions to external influences. These elements must be included in the systems in order to provide a simulation of actual flight operations. In the simulation, aircraft design and development experts and engineers build artificial characteristics. These elements are responsible for the high cost of aircraft simulation systems.
In addition, technological developments in motion sensors are heavily exploited in simulation. Highly used technologies, such as vibration and dynamics pilot seats in simulation, have been demonstrated to be the most effective in commercial pilot training, further increasing system costs around the world. As a result, the high cost of simulator hardware and product development is the key factor limiting the market revenue growth.
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Growth Projections:
Flight simulator market is expected to register a CAGR of 6.7% over the forecast period and revenue is projected to increase from USD 6.90 Billion in 2021 to USD 12.39 Billion in 2030. Rapid adoption of Internet of Things (IoT) system in the aviation industry is a key factor driving the market revenue growth. In addition, significant investments in research & development activities are another key factor driving the market revenue growth during the forecast period.
For instance, on 7 July 2022, Simultec Magurele, a Romanian subsidiary of Israeli defense electronics manufacturer Elbit Systems announced that it will deliver flight simulators for the Blackhawk S-70i and Bell 412EP helicopters in the Asia-Pacific area. The agreement validates Simultec engineers’ ability to design, create, develop, and supply technology at the highest level for both domestic and international markets.
Current Trends and Innovations:
Flight simulator is undergoing significant transformation, particularly in their design and manufacturing aspects. Market companies operating in various countries are significantly investing in research & development activities. For instance, they are manufacturing hardware prototypes and detailed scale models. In addition, increasing focus on expanding expertise, and adding people, machine tools, and skill sets are major trends. Advancements in machine tools dedicated to manufacturing composite parts and investments supported by mechanical and electrical or electronic engineering design are key to various end-use industries.
Upgrades in quality standards for the aerospace industry are a key focus of major market companies such as Boeing and BAE Systems among others. Ongoing addition of new plants and equipment in order to improve the productivity of in-house manufacturing, sub-contract machining, and composite parts services with high levels of customer support, and the enhancement of virtual and augmented reality are key trends in the flight simulator market.
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Strategic Initiatives:
Major companies included in the market report are CAE Inc., L3Harris Technologies, Inc., Thales, Saab, Boeing, Airbus, ELITE Simulation Solutions, SIMCON Aviation Training, Precision Flight Controls, and Avion Group.
On 3 May 2022, CAE Inc., which is a global leader in the development and delivery of integrated live, virtual, and constructive training solutions for defense forces, announced the expansion of the CAE Toronto Training Center to support the deployment of CAE 7000XR Boeing 787 and CAE 7000XR Boeing 737 MAX Full-Flight Simulators (FFS) to Canadian customers. Pilots for the airlines will train at the facility on the industry’s most advanced full-flight simulators, as well as benefit from digitally immersive solutions that improve safety, efficiency, and readiness for Canadians from coast to coast.
Scope of Research
|
Report Details |
Outcome |
|
Market size in 2021 |
USD 6.90 Billion |
|
CAGR (2022–2030) |
6.7 % |
|
Revenue forecast to 2030 |
USD 12.39 Billion |
|
Base year for estimation |
2021 |
|
Historical data |
2019–2020 |
|
Forecast period |
2022–2030 |
|
Quantitative units |
Revenue in USD Billion and CAGR in % from 2022 to 2030 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Method, type, plaltform, and region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Country scope |
U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
|
Key companies profiled |
CAE Inc., L3Harris Technologies, Inc., Thales, Saab, Boeing, Airbus, ELITE Simulation Solutions, SIMCOM Aviation Training, Precision Flight Controls, and Avion Group |
|
Customization scope |
10 hours of free customization and expert consultation |
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Emergen Research has segmented flight simulator market on the basis of method, type, platform, and region:
Method Outlook (Revenue, USD Billion; 2019–2030)
Synthetic
Virtual
Type Outlook (Revenue, USD Billion; 2019–2030)
Flight Training Devices
Full Flight Simulators
Full Mission Flight Simulators
Fixed Base Simulators
Platform Outlook (Revenue, USD Billion; 2019–2030)
Commercial
Military
Regional Outlook (Revenue, USD Billion, 2019 – 2030)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Australia
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
UAE
Saudi Arabia
Africa
Rest of Middle East
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