Increasing demand for new pilots across the globe is driving the market. The simulators market is projected to grow from USD 21. 5 billion in 2019 to USD 27. 9 billion by 2025, at a CAGR of 4.
New York, Feb. 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Simulators Market by Type, Solution, Platform, Technique, Application, Region - Global Forecast to 2025" - https://www.reportlinker.com/p05343328/?utm_source=GNW
4% during the forecast period. Factors such as an increase in the demand for commercial aircraft pilots, acceptance of virtual pilot training to ensure aviation safety, and the need for cost-cutting in training are driving the market for simulators. However, the longer product lifecycle of simulators is limiting the overall growth of the market.
Based on application, the military training segment is anticipated to grow at the highest CAGR during the forecast period
Based on application, the military training segment is anticipated to grow at the highest CAGR during the forecast period. With continuous advancements in technologies related to simulation, operational costs of military training have reduced, thereby leading to the increased use of simulators in military training.
Based on type, the driving simulators segment is anticipated to grow at the highest CAGR during the forecast period
Driving simulators helps train commercial and military drivers to develop their skills for live operations.These simulators can be used in cars, trucks, buses, trains & trams, as well as armored vehicles.
The rise in demand for commercial vehicles across the globe is leading to an increase in demand for new commercial vehicle drivers, which, in turn, will fuel the demand for driving simulators to train them.
Asia Pacific led the simulators market in 2019 Asia Pacific is one of the potential markets for both, commercial and military simulators.An increase in passenger traffic is the major reason for increased demand for pilots, especially in countries such as India, Indonesia, South Korea, Australia, Vietnam, and the Philippines.
An increase in air travel is a result of the rise in the economic status of the middle-class population and the introduction of low-cost carriers. According to Airbus, the training facilities present in the Asia Pacific region as of 2017 are only capable of training 5,000 pilot and aircrew members annually, whereas the requirement is expected to rise more in the next two decades. The expanding airlines in the region need more pilots to meet the demand for air traffic The break-up of profiles of primary participants in the simulators market: By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20% By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World – 5%
Players in the simulators market are CAE Inc. (US), L3Harris Technologies, Inc. (US), Thales Group (France), Saab AB (Sweden), Indra (Spain), Flight Safety International(US), Boeing (US), Collins Aerospace (US), Airbus S.A.S. (Netherlands), Tru Simulaion + Training Inc. (US), Raytheon Company (US), Elite Simulation Solutions (US), Frasca International, Inc. (US), Precision Flight Controls, Inc. (US), Avion Group (Netherlands), Simcom Aviation Training (US), Kongsberg Maritime (Norway), VSTEP Simulation BV (Netherlands), ARI Simulation (India), and ECA Group (France).
Research Coverage: The market study covers the simulators market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as solution, platform, type, application, technique, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.Reasons to buy this report: This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall simulators market and its subsegments.
The report covers the entire ecosystem of the simulators system in the aviation industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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