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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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Natural Fragrance Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Natural Fragrance Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity.
COVID-19 Impact:
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.
Market Segments:
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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Report Coverage
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.
Regional Insights:
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.
Competitive Landscape
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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