The global flight simulators market is expected to reach USD 5.62
billion by 2024, according to a new report by Grand View Research, Inc. Increasing
adoption of FFS owing to high fidelity and reliability is expected to provide
adequate growth prospects over the coming years. Customers also opt for FTDs on
account of their low operational costs, modular approach, real-time aerodynamic
flight model, and remote configuration as well as management. The industry is
expected to witness moderate growth over the forecast period owing to the
aforementioned factors.
The need to effectively
replicate real flying training with the usage of motion and visual systems has
resulted in the introduction of sophisticated simulators in the market.
Increase in government spending and growing security concerns particularly in
the military sector is anticipated to escalate product demand significantly.
The rising concerns over pilot training cost along with fluctuating fuel prices
may further drive demand for flight simulators over the next eight years.
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Report By Grand View Research: http://www.grandviewresearch.com/industry-analysis/the-global-flight-simulator-market
Further key findings from the study suggest:
·
The FFS product segment accounted for over 90% of the
overall revenue in 2015 and is expected to grow at a CAGR of over 4% from 2016
to 2024. This growth is owing to features that provide motion, sound, visuals,
and all other aircraft operations that create a realistic flight training
environment.
·
The demand in civil application segment is primarily due
to the rising air traffic coupled with the growing emphasis on the passenger as
well as pilot safety. Governments in several countries have enforced strict
regulations regarding the use and significance of simulation training.
·
The services segment is anticipated to grow at a CAGR
exceeding 3.0% over the forecast period. This is primarily attributed to the
rise in number of simulator installation by international airways.
·
Europe accounted for more than 30% of the overall market
share in 2015 and is expected to exhibit a modest growth over the next eight
years on account of the elevating enforcement of regulations pertaining to
pilot training and passenger safety.
·
The Asia Pacific flight simulators market is estimated to
exhibit a substantial growth over the forecast period in light of the growing
aviation industry, resulting in the increasing demand for flight simulators.
The Middle East & Africa is also projected to showcase a substantial demand
of over 4%, which is primarily be attributed to the presence of carriers
including Emirates, Etihad Airways, and Qatar that are investing heavily in
this industry.
·
Prominent industry players include CAE, Boeing, L-3 Link
Simulation & Training, Lockheed Martin, Rockwell Collins, Thales and SaaB.
Industry participants emphasize on joint ventures, mergers and acquisitions in
order to acquire greater financial, technical, marketing, manufacturing and
distribution expertise.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the global flight
simulator market on the basis of product, application, service and region:
Flight Simulator Product Outlook
(Revenue, USD Million; Volume, Units; 2012 - 2024)
- Full Flight Simulator
(FFS)
- Fixed Flight Training
Devices (FTDs)
Flight Simulator Application Outlook
(Revenue, USD Million; Volume, Units; 2012 - 2024)
- Military & defense
- Civil
Flight Simulator Service Outlook
(Revenue, USD Million; 2012 - 2024)
- Maintenance & Repair
Services
Flight Simulator Regional Outlook
(Revenue, USD Million; Volume, Units; 2012 - 2024)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
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press release by Grand View Research :
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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