Flight Simulator Market Analysis By Key Players, Share, Revenue, Trends, Size, Growth by 2028
The global flight simulator market size is expected to reach USD 5.75 billion by 2028, exhibiting a CAGR of 5.99% during the period. The 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. This information is given by Fortune Business Insights™ in a recent study, titled, “Flight Simulator Market, 2021- 2028.” The study further states that the market size was USD 3.55 billion in 2020.
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 (U.S.)
- Collins Aerospace (U.S.)
Drivers & Restraints-
Demand for Additional Flight Frequencies to Propel Growth
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.
North America to Lead Backed by Presence of Various Industry Giants
North America procured high traction in terms of revenue. It is set to remain in the leading position throughout the forecast period stoked by the presence of several reputed flight simulator system manufacturers in this region. Europe, on the other hand, is expected to remain in the second position owing to the existence of numerous aircraft, as well as flight simulator manufacturers in this region. The Asia Pacific is anticipated to showcase robust growth in the coming years fueled by the increasing demand for commercial aircraft from the countries, such as China, India, and Indonesia.