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.
Browse full research report on Flight Simulator Market: http://www.grandviewresearch.com/industry-analysis/the-global-flight-simulator-market
Further key findings from the report 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
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-flight-simulator-market
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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