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Flight Simulator Market Size to Reach USD 8.05 Billion by 2027; Rising Usage of AR & VR for Training Purposes will Boost Growth: Fortune Business Insights™

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Pune, July 16, 2020 (GLOBE NEWSWIRE) — The global flight simulator market size is expected to gain momentum from the increasing adoption of virtual reality (VR) and augmented reality (AR) by the airlines to train their cabin crew and flight deck crew. This information is given by Fortune Business Insights™ in a recent study, titled, “Flight Simulator Market Size, Share and Covid-19 Impact Analysis, By Type (Full Flight Simulator, Flight Training Devices, Fixed Based Simulator, and Full Mission Simulator), By Platform (Fixed Wing Simulator, Rotary Wing Simulator, and UAV Simulator), By Application (Commercial, and Military), and Regional Forecast, 2020- 2027.” The study further states that this market size was USD 5.89 billion in 2019 and is projected to reach USD 8.05 billion by 2027, exhibiting a CAGR of 5.20% during the forecast period (2020-2027).Several industries are currently facing huge losses because of the emergence of the COVID-19 pandemic. As the production processes have come to a standstill, there are shortages of products worldwide. But, we will be able to overcome this situation by cooperating with the regulatory bodies. Our reports are specially curated to help you regain business confidence and, thereby generate more sales.Please Visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/flight-simulator-market-102592
What are the market drivers, dynamics, and obstacles?Which companies are set to lead the market in the coming years?How will the key companies manage to cope up with COVID-19 pandemic?Would the advanced Flight Simulators help in training crews?Competitive Landscape-Key Players Focus on Acquisitions & Facility Openings to Gain Competitive EdgeThe market is fragmented with a large number of renowned companies. They are mainly focusing on mergers and acquisitions, as well as opening of new facilities to broaden their geographic footprint and gain more consumer bases.September 2019: Alpha Aviation Group (AAG) announced the opening of its Simulator Training Center Expansion Project. It is worth USD 11 million and is a part of the AAG academy situated in Philippines. It would include four additional simulator bays.January 2018: Airbus SE successfully acquired a privately held flight training center named Strategic Simulation Solutions (SSS). The latter is based in Denver. This new deal would aid Airbus in boosting its profits and broadening its product offerings.
Fortune Business Insights™ presents a list of all the Flight Simulator providers operating in the global market. They are as follows:Thales Group (France)CAE (Canada)Boeing Company (US)Collins Aerospace (US)FlightSafety International (US)L-3 Communications (US)Raytheon Company(US)Precision Flight Controls (US)SIMCOM Aviation Training (US)Frasca International (US)TRU Simulation + Training (US)
Drivers & Restraints-Demand for Additional Flight Frequencies to Propel GrowthThe increasing air passenger traffic is set to boost the aircraft simulator market growth in the coming years. The International Air Transport Association (IATA) mentioned that the number of air passengers would surge up to 4.2% by 2027. Currently, it is 4.8 billion and this surge would add approximately 1.6 billion passengers. Therefore, the demand for commercial pilots and additional flight frequencies to lower the extra loads would affect the market positively. In 2019, a few prominent companies, including Airbus S.A.S. declared that by the year 2028, more than 39,000 new aircraft will begin operating worldwide. However, several unique technologies are used in Flight Simulators. They are expensive in nature. This factor may hamper the market growth in the near future.Will the COVID-19 Pandemic Affect the Market Severely?The airlines industry is considered to be main reason behind the rapid spread of the coronavirus infection.To lower the spread, many countries have halted their rail and air transports.The International Air Transport Association (IATA) mentioned that an estimated loss of USD 314 billion is set to occur in 2020 in the global airlines industry. It refers to the decline of approximately 55% revenue.Segment-Military & Defense Segment to Grow Rapidly Owing to Need of Training SoldiersIn terms of application, the market is bifurcated into military & defense and commercial. Out of these, the commercial segment procured 59% Flight Simulator market share in 2019. The military & defense segment is set to grow at the fastest rate during the forthcoming years backed by the increasing usage of these Simulator systems in this sector for the training of personnel, including the Air Force, Navy, and Military. The simulators are mainly used to train them to drive various vehicles, such as transport aircraft, tankers aircraft, helicopters, ships, aircraft carriers, and tanks.Regional Analysis-North America to Lead Backed by Presence of Various Industry GiantsIn 2019, North America procured USD 2,129.1 Million in terms of revenue. It is set to remain in the leading position throughout the forecast period stoked by the presence of several reputed Flight Simulator system manufacturers in this region. Europe, on the other hand, is expected to remain in the second position owing to the existence of numerous aircraft, as well as flight simulator manufacturers in this region. Asia Pacific is anticipated to showcase robust growth in the coming years fueled by the increasing demand for commercial aircraft from the countries, such as China, India, and Indonesia.  
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Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Industry Developments –Mergers, Acquisitions and PartnershipsLatest technological AdvancementsPorters Five Forces AnalysisSupply Chain AnalysisQuantitative Insights-Impact of COVID-19 Pandemic on Flight Simulator MarketImpact of COVIC-19 Pandemic on the Global Flight Simulator MarketSteps Taken by the Industry/Companies/Government to Overcome the ImpactKey Development in the Industry in Response to COVID-19 ImpactTOC Continued…!!!
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
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