Report : North America Drone Simulator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software), Simulator Type (Fixed and Portable), Drone Type (Fixed Wing and Rotary Wing), and Technology (Augmented Reality and Virtual Reality)
Hardware Segment to Dominate North America Drone Simulator Market during 2020–2028
According to a new market research study on “North America Drone Simulator Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Simulator Type, Drone, Type, and Technology” is expected to reach US$ 535.17 million by 2028 from 251.38 US$ million in 2021. The market is estimated to grow at a CAGR of 11.4% from 2021 to 2028. The report provides trends prevailing in the North America drone simulator market along with the drivers and restraints pertaining to the market growth. Rising usage of drones in military and commercial purposes is the major factor driving the growth of the North America drone simulator market. However, issues associated with complexity of drone simulator systems hinders the growth of North America drone simulator market.
North America drone simulator market is segmented into component, simulator type, drone type, technology, and country. Based on component, the North America drone simulator market is bifurcated into hardware and software. Hardware segment held the largest market share in 2020. Based on simulator type, the North America drone simulator market is bifurcated into fixed and portable. Fixed segment held the largest market share in 2020. Based on drone type, North America drone simulator market is bifurcated into fixed wing and rotary wing. Fixed wing segment held the largest market share in 2020. Similarly based on technology the North America drone simulator market is bifurcated into augmented reality and virtual reality. Virtual reality segment held the largest market share in 2020. Based on country, the North America drone simulator market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
North America is known for the highest rate of adoption of advanced technologies due to favorable government policies to boost innovation and strengthen infrastructure capabilities. As a result, any factor affecting performance of industries in the region hinders its economic growth. Currently, the US is the world's worst-affected country due to the COVID-19 outbreak, which has led governments to impose several limitations on industrial, commercial, and public activities in the country, to control the spread of infection. The led the drone manufacturers and drone MRO service providers witness significant loss during the pandemic. The drone manufacturer’s production volume decreased drastically, thereby hindering the adoption rate of different simulation solution. However, the governments of the US and Canada have maintained their defense spending levels. For instance, the defense spending in the US reached US$ 778 billion in 2020, with a yearly increase on 4.4% which led several drone manufacturers, UGV manufacturers, weapon, and combat system manufacturers to expedite the procurement rate of simulation systems. As a result, the COVID-19 pandemic and its consequences have had a nominal impact on the Drone Simulator market in North America.
BLUEHALO; CAE Inc.; General Atomics; HAVELSAN A.S.; Israel Aerospace Industries Ltd.; L3Harris Technologies, Inc.; Leonardo S.p.A.; Quantum3D; SIMLAT UAS SIMULATION; and SINGAPORE TECHNOLOGIES ELECTRONICS LIMITED are among the leading companies in the North America drone simulator market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Quantum3D, Inc., a leading creator and manufacturer of real-time visual simulation systems, is now offering Flight Training Services in world-class simulator facilities for both military and commercial customers. Flight simulator training is the safest, most practical, and cost-effective way to practice emergency procedures in a stress-free environment.