The increasing air passenger traffic is set to boost the aircraft simulator market growth in the coming years. The International Air Transport Association (IATA) mentioned that the number of air passengers would surge up to 4.2% by 2027. Currently, it is 4.8 billion and this surge would add approximately 1.6 billion passengers. Therefore, the demand for commercial pilots and additional flight frequencies to lower the extra loads would affect the market positively. In 2019, a few prominent companies, including Airbus S.A.S. declared that by the year 2028, more than 39,000 new aircraft will begin operating worldwide. However, several unique technologies are used in Flight Simulators. They are expensive in nature. This factor may hamper market growth in the near future.
The global flight simulator market is expected to gain momentum from the increasing adoption of virtual reality (VR) and augmented reality (AR) by the airlines to train their cabin crew and flight deck crew.
Will the COVID-19 Pandemic Affect the Market Severely?
- The airline industry is considered to be the main reason behind the rapid spread of coronavirus infection.
- To lower the spread, many countries have halted their rail and air transports.
- The International Air transport Association (IATA) mentioned that an estimated loss of USD 314 billion is set to occur in 2020 in the global airline industry. It refers to the decline of approximately 55% of revenue.
Fortune Business Insights™ presents a list of all the Flight Simulator providers operating in the global market. They are as follows:
- Thales Group (France)
- 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)
- TRU Simulation + Training (US)
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Rising Demand for Flight Simulator market during 2021-2026 Profiling Leading PlayersThe Flight Simulator Market is expected to reach USD 8.03 Billion by 2026, according to a new report by Reports and Data.
It provides hands-on experience to the pilot and the associated flight crews of operating the flights more reliably and securely.
Likewise, pilots can practice in several complicated situations that might be faced by them during the time of actual flying.Global Flight Simulator market report is a comprehensive study of the global market and has been recently added by Reports and Data to its extensive database.
The Flight Simulator market is a valuable source of reliable data including data of the current market.Market Overview:The automotive industry has expanded exponentially in the recent decades owing to increasing demand for vehicles in emerging economies.
Countries like China, India, Vietnam and others have offered lucrative growth opportunities to the automotive sector as the growing middle-class population and rising disposable income in these countries have created a massive demand for passenger vehicles as well as other types of vehicles.In the more mature markets of developed nations, there has been a rising demand for electric and hybrid vehicles.
This has driven the growth of electric automotive industry.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1517Top Key Players Profiled in This Report: Key participants include CAE, Boeing Company, Fidelity Technologies Corporation, Collins Aerospace, Aussie Star Flight Simulation, Flight Safety International, L-3 Communications, Raytheon Company, Precision Flight Controls, SIMCOM Aviation Training, Frasca International, TRU Simulation + Training, Airbus Group, Indra Sistemas, Thales Group.Further key findings from the report suggestBased on Application, the market is segmented into Piloted Aircrafts, UAV.The Piloted Aircrafts Application segment accounts for the largest market share in 2018.The Piloted Aircrafts uses simulators that are used for armed forces for training and mission rehearsals.This market is expected to see increasing cooperation, consolidation, and collaboration among the current market players over the next few years.The Unmanned Ariel Vehicles (UAVs) segment is expected to grow at the highest rate of 5.0% during the forecast period.Growing demand for drone simulators for drone pilots and practical training is a driving factor for the growth of the market for UAVs.Based on Offering, the market is classified into Product, and Services respectively.The Product segment is expected to grow at the higher rate of 5.0% during the forecast period.The hardware product is intended to combine with fixed or mobile platforms, which enables these devices to be more user-friendly.Across the globe, different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa have been examined on the basis of productivity and manufacturing base.
