Flight Simulator Market is to grow at 5% During the Forecast Period 2020 to 2030

The market for flight simulators is anticipated to expand steadily between 2020 and 2030, driven mostly by their use in civil and military & defence applications. According to a recent Future Market Insights (FMI) analysis, revenues from the worldwide flight simulator market are expected to increase by 1.5X throughout the projected period, with rising Asian economies holding a profitable position for stakeholders.

The expansion of airline routes and the employment of personnel such as traffic controllers, pilots, and cabin crew are justified by the widespread usage of air transport in the developing nations of Asia Pacific. This has a big impact on how quickly the market for flight simulators is growing.

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Key Takeaways of Flight Simulator Market

Full flight simulator (FFS) accounts for more than 90% of flight simulator sales.
Civil applications account for over 69% of total adoption.
Military & defense industry will emerge as a highly lucrative area of investment for market stakeholders, with a projected 5% CAGR through 2030.
Adoption of fixed flight training devices is projected for an impressive surge in the near future.
North America maintains hegemony, with nearly half of the total market value.
Flight simulator market in South Asia is poised for a healthy 6.8% CAGR during the forecast period.

Flight simulators are one of the verticals that are most at risk from the COVID-19 pandemic. In order to survive, many airline enterprises have completely suspended operations. Air fleets are being dispatched by governments to save citizens who are stuck abroad. Due to the fact that the flights are being flown for free, this increases the strain on the cash reserves of airline companies.

Government rescue funds provide some solace, but a complete recovery won't be possible until after the pandemic. The demand for flight simulators is projected to decline significantly as a result of this negative effect on the airline industry. The industry won't spend money on training new pilots during the pandemic since there are too many idle workers.

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Even after the epidemic, sales of tickets and in-person merchandise for airlines would experience a sharp decline for a while. However, market players are in it for the long run. According to our analysis, there won't be much of a return to normalcy before Q3 2020. The airline industry's ability to recover will be determined by the financial burden of currently unpaid reimbursements and consumer behaviour following COVID-19. It will also have an impact on the forecasted period's recovery and growth of the market for flight simulators.

Flight Simulator Market - Key Participant Insights

Flight simulators have been ideal for usage in effective training of airline staff, which continues to push their adoption by airline companies. Innovative applications of flight simulators in cabin crew and ground crew training will further present gainful opportunities in the global market. Key market players are leveraging these innovative applications such as air traffic controller training to differentiate their products in the market.

Developments in Aircraft Simulation Technology (AST) is a popular product differentiation strategy among market players. Major players are forging long-term relationships with suppliers, technology partners, and vendors to expand their production capacities. Reducing the time-to-market, and expansion of global footprint will dictate the competitive landscape in the flight simulator market.

Key players in flight simulator market that have been covered in this FMI report include, but are not limited to, CAE Inc., L-3 Communications Holdings Inc., Flightsafety International, The Boeing Company, Thales Group, Collins Aerospace, Airbus Group N.V., Indra Sistemas SA, and TRU Simulation + Training.

Key Research Findings

Adoption of flight simulators for military & defense applications will exhibit a healthy CAGR of 5% during the forecast period, 2020 - 2030.
Demand for Fixed Flight Training Devices (FTD) continues to grow strong, on the back of their application in effective pilot trainings.
Full Flight Simulator (FFS) sales will grow 1.5X between 2020 and 2030, though at a steady pace.
Owing to proliferation of air travellers, especially in developing countries, civil applications of flight simulators will rise 1.4X during period of projection.
North America leads the global flight simulator market, with a major revenue share of over 49%.

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Flight Simulator Market: SegmentationType

Full Flight Simulator (FFS)
Fixed Flight Training Devices (FTD)

Application

Civil
Military & Defense

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.