Global Flight Simulators Market To Be Driven By Rapid Technological Advancements In The Forecast Period Of 2022-2027
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 6%
The flight simulators market is driven by increasing traffic and tourism activities around the world. The expansion of fleets has resulted in a greater demand for new commercial pilots. This is likely to increase demand for flight simulators, which are increasingly being used to train new pilots.
The market is also expected to benefit from the global economy's recovery and the resurgence of the travel and tourism sector following the COVID-19 pandemic. Increasing investment for development of modern aircraft training organisation is expected to bolster the market growth in the forecast period.
Industry Definition and Major Segments
Flight simulators are devices that artificially recreate aircraft flights and their surroundings for the purposes of pilot training, design, and other purposes. They simulate the equations that govern how planes fly, how they react to flight control applications, the effects of other aircraft systems, and how planes react to external variables like air density, turbulence, wind shear, cloud, and precipitation, among others.
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On the basis of product, the industry can be segmented into:
• Full Flight Simulator (FFS)
• Fixed Flight Training Devices (FTD)
Based on application, the industry can be divided into:
• Military and Defense
The regional markets include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The healthy increase in air passenger traffic necessitated the addition of new flight frequencies as well as the reduction of excess loads on commercial pilots. Airlines operate commercial aircraft at maximum load factor to generate large profit margins and additional income because a higher load factor accelerates earnings while lowering operating expenses for market participants.
Due to the increased need to train new pilots joining the industry, this is expected to generate a healthy demand for flight simulators in the coming years. Furthermore, the development of a realistic aircraft flight simulation system with overhead and ECAM displays based on aviation system logic has resulted in a significant increase in the use of these devices and is expected to continue to catalyse market growth for flight simulators.
Rising concerns about the cost of pilot training, fluctuating fuel prices, and cost savings on actual aircraft maintenance and repair are also expected to have a positive impact on industry growth.
Key Market Players
The major players in the market are The Boeing Company, CAE Inc., Havelsan A.S., Saab., Fidelity Technologies Corporation, and Others.
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