Flight Simulator Market Will Witness Growth Based On The Growing Importance Of Aircraft Safety Till 2024:Grand View Research,inc.

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.

For more information: http://www.grandviewresearch.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s