Flight Simulator Market Growth Segments, Demand, Opportunities, Buisness Analysis And Revenue Estimation By 2032 || CAE, Inc., FlightSafety International, Boeing, Thales Group
Flight Simulator Market Size, Growth Rate, And Forecast
The global flight simulator market size grew from $5.5 billion in 2022 to $5.71 billion in 2023 at a compound annual growth rate (CAGR) of 3.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The flight simulator market size is expected to grow to $6.46 billion in 2027 at a CAGR of 3.1%.
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Flight Simulator Market Drivers
The increasing demand for new commercial and military pilots is driving the growth of the flight simulator market. Increasing purchase of new commercial aircraft and military aircraft by air transport providers and government organizations to meet their ongoing requirements are boosting demand for new commercial and military pilots. The demand for new pilots is predicted to boost demand for the simulators, as they are vital components in pilot training according to the regulatory requirements. For instance, in 2021, according to the Boeing report, over the next two decades, 612,000 new pilots will be required worldwide, with 130,000 of these in North America, primarily the U.S respectively. In addition, Airbus' Commercial Market Outlook report estimates around 40,000 new aircraft will be ordered in a similar timeframe, representing over 450,000 pilots. Therefore, increasing demand for new commercial and military pilots is expected to propel the growth of the flight simulator market in the coming years.
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Flight Simulator Market Segments
• By Simulator Type: Virtual Simulation, Live Simulation
• By Platform: Commercial Aerospace, Military Aerospace
• By Aircraft Type: Rotary-Wing Aircraft, Fixed-Wing Aircraft, UAV
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the flight simulator market.
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Flight Simulator Market Key Players
Major competitors in the flight simulator market are CAE, Inc., FlightSafety International, Boeing, Thales Group, Collins Aerospace, Airbus, Avion Group, Frasca International, Indra Sistemas, Precision Flight Controls.
The Business Research Company's "Global Flight Simulator Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Flight Simulator Market Include:
1. Executive Summary
2. Flight Simulator Market Characteristics
3. Flight Simulator Market Trends And Strategies
4. Flight Simulator Market - Macro Economic Scenario
5. Flight Simulator Market Size And Growth
27. Flight Simulator Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Flight Simulator Market
29. Flight Simulator Market Future Outlook and Potential Analysis
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