Global Simulators Market report published by Accurize Market Research forecast that the global market is expected to reach $25.99 Billion by 2025; growing at a CAGR of 5.9% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Need for the new military pilot to drive the global market
Increased demand for new military pilots, need of training to ensure aviation safety, and the need for cost-cutting of pilot training is the major simulator market trend. However, the lack of interoperability and high complexity of simulator systems may hamper the simulator's market growth. Moreover, technological advancements in the field of simulators create future opportunities for the market.
Type, technology, component, vehicle class, application, and geography are the classification of the global simulator market. Flight training devices, full mission simulators, full flight simulators, fixed-based simulators, containerized simulators, desktop simulators, fixed facility simulators, and other types are covered under the type segment. Technology is further sub-segmented into a virtual simulation, live simulation, constructive simulation, integrated training environment, and gaming simulation. By component, the market is bifurcated as hardware and software. Vehicle class comprises naval, airborne, and land. Application is further sub-segmented into commercial and military.
North America, Europe, Asia-Pacific and the Rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada, and Mexico. Europe covers countries like Russia, the U.K., Germany, France, Italy and the Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa, and the Middle East.
"Containerized simulators accounted for the largest market share in the type segment", says Accurize
On the basis of type, the containerized simulators segment is likely to achieve the fastest CAGR over the forecast period 2017 – 2025. The high growth is credited to the increasing demand for simulator training in the shipping industry. Moreover, strong growth in international trade & tourism and crude oil exploration activities has also led to the fuel of the containerized simulators segment. An integrated training environment within the technology segment is anticipated to achieve the fastest CAGR throughout the forecast period. The military segment is expected to continue its dominance over the next coming years too, though the commercial segment is expected to grow at a higher CAGR during the forecast period.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific is likely to attain the fastest CAGR throughout the forecast period, driven by factors such as growth in the aviation industry and an increase in aircraft deliveries in the region.
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Top players in the market
Major companies operating in the market include Lockheed Martin, CAE Inc., Thales Group, L3 Technologies, Boeing, FlightSafety International Inc., ECA GROUP, FAAC Group, Rockwell Collins, Inc., Mobica Ltd., among others.