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 widespread use of air travel in Asia Pacific’s growing nations justifies the expansion of airline routes and the hiring of employees including traffic controllers, pilots, and cabin staff. This contributes significantly to the market for flight simulators expanding. The prospects for the flight simulator market will improve with the growing integration of augmented reality (AR) and virtual reality (VR) applications in flight simulators. The ability of these cutting-edge technology to accurately simulate real-world scenarios lies at the heart of the need for flight simulators.
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Key Takeaways from the 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.
Among the most exposed verticals to the COVID-19 epidemic are flight simulators. Many airline businesses have stopped operating entirely as they struggle to make ends meet. Governments are sending out air fleets to rescue nationals who are stranded abroad. This puts additional pressure on airline firms’ cash reserves. because the flights are being flown for free. 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.
Even after the epidemic, the airline sector would experience a significant decline in terms of ticket sales and in-person sales for a while. However, market players are in it for the long haul. According to our analysis, normalcy wouldn’t likely return until the third quarter of 2020. Consumer behaviour following COVID-19 and the financial weight of currently unpaid reimbursements will determine how quickly the airline sector recovers. It will have an additional impact on the recovery and growth of the market for flight simulators during the course of the projection period.
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Flight Simulator Market – Key Participant Insights
The use of flight simulators in efficient airline crew training has proven excellent, which has pushed airline businesses to use them. Innovative uses of flight simulators for ground crew and cabin crew training will further open up lucrative market potential. To differentiate their products in the market, major market players are utilising these cutting-edge applications, such as air traffic controller training.
Aircraft Simulation Technology (AST) advancements are a well-liked method of product differentiation among market participants. To increase their production capabilities, major players are establishing long-term connections with suppliers, technology partners, and vendors. The competitive environment in the flight simulator industry will be determined by decreasing time-to-market and increasing worldwide footprint.
The Boeing Company, The L-3 Communications Holdings Inc., Flightsafety International, Thales Group, Collins Aerospace, Airbus Group N.V., Indra Sistemas SA, and TRU Simulation + Training are just a few of the major flight simulator industry companies that have been examined in this FMI analysis.
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: Segmentation
Type
- Full Flight Simulator (FFS)
- Fixed Flight Training Devices (FTD)
Application
- Civil
- Military & Defense
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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.
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