The flight simulator market size was valued at USD 4.9 billion in 2022 and is expected to reach USD 7.8 billion by 2032, at a CAGR of 4.8%.
FORT COLLINS, Colo., April 29, 2024 (Globe Newswire) —
Increasing reliance on aviation as a mode of transportation will accelerate the flight simulator industry in the coming years.
The growth of the airline industry is significantly driving the growth in demand for aviation. Flight simulator. According to the International Civil Aviation Organization (ICAO), around 400 aircraft departures are reported every hour around the world. More and more individuals are choosing air travel for personal and business purposes, including the quick delivery of goods and materials, and this trend is expected to continue. ICAO predicts that the annual growth rate in air transport demand over the next 20 years will remain strong at around 4.3%, resulting in an increased need for trained pilots and the need for advanced flight simulator systems. A market will be created.
Additionally, the rising demand for skilled and qualified pilots is another key driver supporting the market growth. In the United States alone, prominent airlines such as Delta Air Lines, American Airlines, and United Airlines have observed a huge disparity between the demand and supply of pilots. As the aviation field expands, the demand for trained pilots is expected to follow suit, further invigorating the flight simulator market.
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Segmentation overview:
The flight simulator market is segmented into types, solutions, methods, applications, and regions.
Full flight simulators hold overwhelming market share in type category
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A complete flight simulator provides a realistic overview of flying during training, facilitating pilot understanding and learning. These simulators are equipped to provide realistic cockpit sounds and can provide all sorts of real-life experiences such as turbulence and weather changes.
Commercial segment holds overwhelming share in application category
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Due to the growing trend of air travel, the commercial segment holds a large share in the application category. The demand for air travel is increasing to save time and as more and more people travel to different countries.
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Flight Simulator Market Report Highlights:
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Prominent players in the Flight Simulator market report include Boeing, Thales SA, L3Harris Technology Inc., TRU Simulation Airbus Group, Collins Aerospace, CAE Inc., SAAB AB, VirTra Inc., Raytheon Inc., Flight Safety International, etc. Masu.
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