The flight simulator market is estimated to be USD 5.7 billion in 2019 and is projected to reach USD 7.7 billion by 2025, at a CAGR of 5.2% from 2019 to 2025. Increasing demand for new commercial and military pilots, adoption of virtual flight training to ensure aviation safety, and the need for cost-cutting of pilot training are expected to drive the market.
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The services segment is projected to grow at the highest CAGR during the forecast period Growth of this segment is attributed to the increase in the maintenance cost of flight simulators. These are used for both, primary and regular training. Also, the repaid upgradation in simulation technology and its applications are the some of the factors driving the growth of the services segment. Also, rise in the demand for hardware and software upgradation services from the flight training market is driving the growth of services segment.
Flight simulators can be used on various platforms, including commercial aircraft, military aircraft, helicopter simulator and Unmanned Aerial Vehicles (UAVs). The commercial aircraft segment is projected to lead the flight simulator market during the forecast period. Rise in the global air passenger traffic is driving the growth of the aviation industry, which is leading to the demand for commercial aircraft deliveries. This rise in the demand for new aircraft creates additional demand for commercial pilots, which acts as a major factor in driving the growth of the flight simulator market.
Market growth in the Asia Pacific region is majorly driven by the increasing number of deliveries of unmanned aerial vehicles and commercial aircraft. Changing demographics and increase in disposable income in the region is driving the demand for air travel, which supports the demand for new pilots, thus, resulting in the demand for new flight simulators in the region. For instance, increase in pilots by China’s Eastern Airlines is driving the flight simulator market.
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The key market players are 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), and TRU Simulation + Training (US) in the North America region and Airbus Group (Netherlands), Indra Sistemas (Spain), and Thales Group (France) in Europe who have robust product offerings and share of the flight simulation technology with major airlines in these regions.
