The global aircraft simulation market size is set to expand due to the increasing concerns about aviation safety. In addition, the high cost associated with producing & maintaining an actual aircraft and increasing desire for effective pilot training is expected to boost the market growth. Fortune Business Insights presents this information in its report titled “Aircraft Simulation Market, 2022-2029.”
An aircraft simulator is a computer system that helps process record control inputs, flight data, and an audio system for communication. The system is a low-cost training solution for the pilots to train without any risks.
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Slowdown of Aerospace Sector in 2020 Impeded Market Growth
Due to lockdowns in several countries in 2020, the aviation sector experienced significant slowdown, leading to a weakened demand in the global aircraft simulation market. With tight restrictions on travel and transportation of goods, aircraft activity declined considerably in most parts of the world. However, with recovery of the global aviation sector, the global market is set for a rebound during the next few years.
According to the platform, the market is segmented into commercial aircraft simulator, narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft, military aircraft simulator, combat aircraft, transport/tanker aircraft, training aircraft, special mission aircraft, helicopter simulator, and unmanned aerial vehicles (UAVs) simulator.
In terms of solutions, the market is broken down into hardware, software, products, services, hardware upgrades, and software upgrades.
By type, the market is divided into aircraft simulators, aircraft simulator training, fixed base simulators, full aircraft simulators, line aircraft training, virtual aircraft training, aircraft training devices.
Region-wise, the market is segregated into Europe, North America, Asia Pacific, and Rest of the World.
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The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Lower Expenses in Pilot Training to Promote Aircraft Simulation Adoption
The aircraft simulation market growth is increasing due to the increasing concerns about aviation safety. In addition, the high cost associated with producing & maintaining an actual aircraft and increasing desire for effective pilot training is expected to boost the market growth.
On the contrary, the lack of interoperability may slow down the market growth.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
Military & Commercial Infrastructure Regulations in North America to Drive Market Share
Aircraft simulator market share is expected to increase in North America due to the favorable rules & regulations pertaining to commercial and military aircraft infrastructure.
Asia Pacific is witnessing significant growth due to the growing demand for air travel and new pilots. In addition, increasing disposable income is responsible for driving market growth in the region.
Europe holds the second-largest share in the market due to the presence of major firms such as Leonardo S.P.A., BAE system, and Thales group.
Leading Players adopt Acquisition Strategies to Stay Competitive
Several players in the market are using acquisition strategies to build their business portfolios and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
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Notable Industry Development:
June 2021 – Brunner Elektronik is a simulation component maker. It has won a contract to supply Lufthansa Aviation Training in Zürich, Switzerland, with its NovaSim MR (mixed-reality) full-motion simulator (LAT). The NovaSim MR is a portable and lightweight Aircraft simulator that employs virtual reality to fill in the details of the simulated aircraft and surroundings.
The Report Lists the Key Players Profiled in the Market Report:
- CAE (Canada)
- Boeing Company (U.S)
- Collins Aerospace (U.S)
- Flight Safety International (U.S)
- L-3 Communications (U.S)
- Raytheon Company (U.S)
- Precision Flight Controls (U.S)
- SIMCOM Aviation Training (U.S)
- Frasca International (U.S)
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