The latest report by MarkNtel Advisors, titled “Simulators Market Report By Solution (Products, [Hardware, Electronic Systems, Controls, Visuals, Gauges & Systems, Panels & Casings, Software], Services, [Hardware Upgrades, Software Upgrades, Maintenance & Support]), By Platform (Air, [Commercial, Military, Unmanned Aerial Vehicles], Land, [Commercial, Military, Unmanned Ground Vehicles], Maritime, [Commercial, Military, Unmanned Maritime Vehicles]), Others, and Region 2024-2030”, offers a comprehensive analysis of the industry, which comprises insights on the Simulators Market research report.
What is the market outlook for Simulators?
The Global Simulators Market size was valued at USD 17.5 billion in 2023 and is estimated to grow at a CAGR of around 8.1% during the forecast period 2024-30.
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Major Companies Operating in the Simulators Industry:
CAE Inc., Thales, L3Harris Technologies Inc., Saab AB, Indra Sistemas, S.A., Boeing, Flight Safety International, Raytheon Technologies, Tru Simulation+ Training Inc., ECA Group, Cruden, Vesaro, Simworx, CXC Simulations, Next Level Racing and others
Simulators Market Report Segmentation:
By Solution
-Products
–Hardware
—Electronic Systems
—Controls
—Visuals
—Gauges & Systems
—Panels & Casings
–Software
-Services
–Hardware Upgrades
–Software Upgrades
–Maintenance & Support
By Platform
-Air
–Commercial
–Military
–Unmanned Aerial Vehicles
-Land
–Commercial
–Military
–Unmanned Ground Vehicles
-Maritime
–Commercial
–Military
–Unmanned Maritime Vehicles
By Type
-Flight Training Devices
-Full Flight Simulators
-Full Mission Flight Simulators
-Fixed Base Simulators
–Air-Traffic Control Simulators
–Driving Simulators
–Land-Force Training Simulators
–Full Mission Bridge Simulators
–Vessel Traffic Control Simulators
By Application
-Commercial Training
-Military Training
- The military training segment is expected to hold a major market share during the forecast year
By Technique
-Live, Virtual and Constructive Simulation
-Synthetic Environment Simulation
-Gaming Simulation
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Regional Insights:
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Global Simulators Market Driver: Cost-Effectiveness & Safety of Simulator-Based Training Driving Market Growth
The value of simulator-based training in aviation has risen, attributable to safety regulations enforced by the FAA and the European Aviation Safety Agency. This approach offers prompt and cost-effective instruction while minimizing environmental impact. The use of full-flight simulators is crucial as it enables pilots to become acquainted with aircraft operations while avoiding the costly risks associated with actual machines. Flight simulators run for more than 20 hours per day with minimal emissions while being 22 times cheaper compared to manual aircraft training.
In addition, the military, especially the Air Force, widely utilizes flight simulation in preparing personnel for equipment operations and computer-based battlefield situations. This transition towards simulator instruction aligns with safety codes, guaranteeing practical and cost-efficient solutions for the aviation industry. Furthermore, they expose individuals to diverse scenarios that equip them with practical skills essential to facing various challenges common in real-life settings. Therefore, the cost-effectiveness & safety of simulator-based training is driving the revenue growth of the simulators industry.
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