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Flight Simulators Market Expected To Trigger A Revenue To $5.62 Billion By 2024: Grand View Research, Inc.

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Flight Simulators Market Expected To Trigger A Revenue To $5.62 Billion By 2024: Grand View Research, Inc.

March 21
12:33 2019
Flight Simulators Market Expected To Trigger A Revenue To $5.62 Billion By 2024: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Benefits offered by these devices including mission critical training programs that ensure effective aircraft operation, cut operational costs, and visual systems that offer near real world experience, are anticipated to offer avenues for Flight Simulators market growth over the next few years.

According to a report,“Flight Simulator Market Analysis By Product (Full Flight Simulator (FFS), Fixed Flight Training Devices (FTD)), By Application (Military & Defense, Civil), By Service And Segment Forecasts To 2024”, published by Grand View Research, Inc., the global flight simulators market is expected to reach USD 5.62 billion by 2024. 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.

Key Takeaways from the report:

  • 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.

China Flight Simulator Market By Product, 2012 – 2024 (USD Million)

China Flight Simulator Market By Product, 2012 - 2024 (USD Million)

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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.

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

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: Switzerland
Website: www.grandviewresearch.com/industry-analysis/the-global-flight-simulator-market

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