Jul 17, 2020 4:02 PM ET
iCrowd Newswire – Jul 17, 2020
Global COVID-19 Pandemic Impact on Flight Simulator Market is expected to reach USD 7,794.2 Million by 2025 at a CAGR of 5.38% during the forecast period. Simulation and virtual training are better alternatives for conventional training methods. These companies are involved in research and development due to its potential for use in a variety of applications, such as virtual emergency evacuation, virtual military training, and virtual firefighting. In terms of military, all the branches, such as the army, navy, and airforce, are implementing this solution for various combat operations. This would boost the demand for the market during the review period.
The key players in the Global COVID-19 Pandemic Impact on Flight Simulator Market are CAE Inc. (Switzerland), L3Harris Technologies, Inc. (US), Lockheed Martin Corporation (US), Advanced Rotorcraft Technology, Inc. (US), Boeing (US), FlightSafety International (US), FRASCA International Inc. (US), Thales Group (France), TRU Simulation + Training Inc. (US) and United Technologies Corporation (UTC) (US).
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Global Flight Simulator Market has been segmented based on platform, aircraft type, and simulator type.
By platform, the global flight simulator market has been classified as the airborne segment is projected to dominate the market with a valuation of USD 5,785.6 million in 2018 and reach USD 7,642.3 million by 2025. The military aerospace segment includes flight simulators used in non-military aircraft such as scheduled carriers, business jets, and other commercial aircraft. Since military helicopters operate under extreme conditions, these helicopter systems need to be designed to meet strict regulations. The governments of different countries are upgrading existing helicopters with new and advanced ones and modifying existing systems. As per the US Government Accountability Office, the US Air Force saved around USD 1.7 billion on fuel between 2012 and 2017 by using simulators. Special simulators are designed for military combat aircraft. The rising demand for trained military pilots is expected to boost the demand for flight simulators.
Based on aircraft type, the Global COVID-19 Pandemic Impact on Flight Simulator Market has been divided into live simulation and virtual simulation segments. A live simulation type of training is considered a simulation as it is not conducted against live enemies. Live simulation training is conducted after the completion of virtual training to gain hands-on experience in operating real systems. The live segment is expected to register a CAGR of 4.99% during the forecast period.
Based on training type, the global flight simulator market has been divided into live, virtual reality (VR), constructive, and gaming simulation. In a live simulation, real-time data systems are directly operated by soldiers for training. This type of training is considered a simulation or an artificial environment as it is not conducted against a live enemy. Live simulation training is implemented after completion of virtual training in order to gain hands-on experience of the real systems. This provides better training options for the training of combat operations. The live segment is projected to register a CAGR of 3.85% during the forecast period.
The global flight simulator market has been segmented, by region, into North America, Europe, Asia-Pacific, The Middle East and Africa, and Latin America.
North America is leading the market with a valuation of USD 4032.6 million in 2018. The presence of major market players, such as Lockheed Martin Corporation, FRASCA International Inc., and TRU Simulation + Training Inc. is expected to drive market growth in North America. The regional market is expected to grow at a CAGR of 4.12% during the forecast period.
Europe is projected to be the second-largest market during the review period. The regional market is expected to reach USD 1,682.8 million by 2025 at a CAGR of 5.25% during the forecast period. Asia-Pacific is projected to be the third-largest market during the review period. The regional market is expected to reach USD 1,815.3 million by 2025 at a CAGR of 8.15% during the forecast period.
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In February 2019, FRASCA International Inc. delivered AS350B2 helicopter FTD to TEMSCO Helicopters, a training solutions provider based in Ketchikan, Alaska, US. TEMSCO Helicopters is expected to use the FTD to train its staff pilots.
In January 2019, FRASCA International Inc. partnered with Garmin Ltd to incorporate G1000 NXi software into its RTD. FRASCA RTD is an FAA-approved AATD. The software has advanced features such as synthetic vision technology with a 3-dimensional view and terrain awareness and warning system.
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