Simulators Market by Type (Full Mission Bridge Simulators, Full Flight Simulators, Driving Simulators, Fixed Base Simulators, Vessel Traffic Control Simulators, Land Forces Training Simulators), Platform (Airborne, Land, Maritime), Technique (Live, Virtual, & Constructive (LVC) Simulation Synthetic Environment Simulation, Gaming Simulation); Application (Military Training, Commercial Training): Global Market Size Estimates and Forecast (2019-2030)
The market is expected to cross US$ 24.01 billion in 2022 and is projected to hit US$ 39.20 billion by 2030, recording a CAGR of 6.24 during the forecast period.
The rising demand for pilots in the aviation industry, driving the market growth.
As per Boeing Pilot Outlook 2021, around 612,000 new commercial pilots will be needed to manage and fly the worldwide commercial fleet over the coming years, mostly in Asia-pacific and the Middle East. The rising middle-class population and the rise in trade, tourism, and disposable income in developing nations such as India, China, and the UAE have increased the requirement for aircraft and, thus, pilots. Additionally, mature markets such as North America and Europe are seeing a gradual revival in demand for pilots owing to recruitment initiatives by legacy carriers. Furthermore, pilots need not only extensive training to handle aircraft operations under unusual situations but also require adequate knowledge about new specifications in aircraft. With the help of flight simulators, train pilots avoid damage to expensive aircraft while ensuring the public's safety.
Moreover, the aviation industry faces a shortage of skilled pilots and thus requires recruitment. These recruited pilots require training, which, in turn, leads to rising demand for simulators. Most airlines and pilot training institutes are being established to offer training courses for pilots, which is another factor anticipated to propel the demand for simulators.
Within the report, the market is segmented into type, platform, technique, application, and geography. By type, the market is segmented into Full Mission Bridge Simulators, Full Flight Simulators, Driving Simulators, Fixed Base Simulators, Vessel Traffic Control Simulators, Land Forces Training Simulators. Based on platform, the market is segmented into Airborne, Land, Maritime. Based on technique, the market is segmented into Live, Virtual, & Constructive (LVC) Simulation Synthetic Environment Simulation, Gaming Simulation. Based on applications, the market is segmented into Military Training, Commercial Training. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, and rest of the world.
Technological advancements is another factor driving the market growth.
Technological advancements resulting in the creation of highly advanced simulator is anticipated to propel the market growth. Lockheed Martin Corporation offers a flight simulator named Prepar3D, which can recreate the cityscape and night flying illustrations. The company has kept it an open source for private users and software developers to develop new applications and environments, thus ensuring the constant evolution of the program. Furthermore, advancements in computing technology have significantly resulted in better visual systems offering near real-world experience, which may propel industry growth over the forecast period.
Growing demand for unmanned systems for defense and commercial applications will create ample growth opportunities.
The rising demand for unmanned systems for defense and commercial applications is anticipated to drive the demand for simulators. Additionally, the companies such as AEgis Technologies Group and Havelsan Inc. are introducing highly sophisticated unmanned simulators independent of hardware configurations to simulate any unmanned aerial system with the help of any sensor operator and payload suite. Furthermore, these simulators can develop a virtual battlefield in real-time, enabling ab-initio training, basic payload and flight operations, mission rehearsal, and mission planning. Moreover, these simulators need to be cost-effective, capable of precise simulation of flight dynamics, have an error-tolerant control system design, and have a multi-vehicle simulation with interoperability.
Recent Strategic Developments in Simulators market
The Simulators market has undergone several significant developments, and a few of these have been mentioned below:
- In May 2022, Thales owned RUAG Simulation and Training, becoming a European leader in training and simulations.
- In February 2022, Kongsberg Digital, a division of Kongsberg Gruppen, was given a contract to provide a wide variety of marine simulator systems.
The Simulators market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. CAE Inc., L3Harris Technologies, Inc., Thales SA, Saab AB, Indra, Flight Safety International, The Boeing Company, are among the prominent players operating in the market.
Target audience for the report:
- Simulators manufacturers
- Raw material providers
- Simulators providers
- Simulators -related service providers
- Simulators -related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Electronics component suppliers
- Simulators and devices distributors and sales firms
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Full Mission Bridge Simulators
- Full Flight Simulators
- Driving Simulators
- Fixed Base Simulators
- Vessel Traffic Control Simulators
- Land Forces Training Simulators
- Live, Virtual, & Constructive (LVC) Simulation
- Synthetic Environment Simulation
- Gaming Simulation
- Military Training
- Commercial Training
- North America
- Asia Pacific (APAC)
- Rest of World
- Companies profiles
- CAE Inc.
- L3Harris Technologies, Inc.
- Thales SA
- Saab AB
The List of Companies
- CAE Inc.
- L3Harris Technologies, Inc.
- Thales SA
- Saab AB