HOME › Press Releases › Flight Simulator Market worth 7.54 Billion USD by 2021
Flight Simulator Market worth 7.54 Billion USD by 2021
The report "Flight Simulator Market by Application (Military, Commercial), by Type of Flight (Fixed Wing, Rotary Wing, Unmanned Aircraft), Military Component (FFS, FMS, FTD), Commercial Component (FFS, FBS, FTD), Geography - Global Forecast to 2021", The global flight simulator market is projected to reach USD 7.54 Billion by 2021, at a CAGR of 4.1% from 2016 to 2021. Factors such as increased demand for new commercial and military pilots, adoption of virtual training to ensure aviation safety, and the need for cost-cutting of pilot training are expected to drive the global flight simulator market.
Browse 72 market data Tables and 106 Figures spread through 168 Pages and in-depth TOC on "Flight Simulator Market - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
The military segment to dominate the global flight simulator market with highest market share
On the basis of application, the military segment dominates the global flight simulator market with largest market share and is expected to continue its dominance over the next five years, though the commercial segment is expected to grow at a higher CAGR during the forecast period. The demand for military simulators is primarily driven by their use in armed forces training and mission training. Rising demand for commercial pilots tends to drive the commercial simulator market.
The unmanned aircraft segment is expected to grow at the highest pace during the forecast period
The unmanned aircraft segment of the global flight simulator market, by type of flight, is expected to grow at the highest CAGR during the forecast period. It is expected to dominate the market on account of the growing prominence of unmanned aerial systems (UAS) in defense as well as the commercial sector.
The flight simulator market is expected to witness the highest growth in the Asia-Pacific region
The aviation industry in the Asia-Pacific region has been witnessing strong growth over the past few years. This growth, which is mainly driven by increasing demand for new aircraft deliveries and increasing air traffic in this region, is expected to boost the global flight simulator market. The aviation industry’s growth can also be attributed to the increase in trade & tourism, as well as increasing disposable income of the middle class population in emerging economies, such as India and China.
Key players in the global flight simulator market include CAE Inc. (Canada), L-3 Communications Holdings, Inc. (U.S.), FlightSafety International Inc. (U.S.), Thales Group (France), The Boeing Company (U.S.), and Rockwell Collins, Inc. (U.S.), among others.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India