Simulator Market Revenue to Cross US$22.4 Billion by 2026, Predicts IndustryARC

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The commercial sector is one of the major end user of simulator market, owing to the significant growth in the aviation sector across the globe.

HYDERABAD, TELANGANA, INDIA, January 12, 2023 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that the Simulator Market is expected to reach US$22.4 billion after growing at an estimated CAGR of 3.6% during 2021-2026. Based on end-user, the military and defense training segment is anticipated to grow at the highest CAGR during the forecast period. With continuous advancements in technologies related to simulation, operational costs of military training have reduced, thereby leading to the increased use of simulators in military training. Increasing demand for virtual training environment for both commercial and military purposes and growing need for cost effective training, especially for flights are expected to accelerate the Simulator market during forecast period.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=19658

Key Takeaways:

This IndustryARC report on the Simulator Market highlights the following areas –

• With continuous advancements in technologies related to simulation, operational costs of military training has reduced, thereby leading to the increased use of simulators in military training.

• The commercial sector is one of the major end user of simulator market, owing to the significant growth in the aviation sector across the globe. Moreover airline companies are using innovative simulators to provide cost-effective airborne training experience to pilots in a safe environment.

• Rising partnerships between manufacturers and other end-users is analysed to drive the market growth. In addition, growing investments by several companies for expansion of training facilities is also analysed to drive the market growth in the forecast period.

Segmental Analysis:

• By Type – Flight Simulators dominate the market with a share of over 48% in 2020. Increasing demand for new commercial and military pilots, adoption of virtual flight training to ensure aviation safety, and the need for cost-cutting of pilot training are expected to drive the market. The industry is witnessing unprecedented R&D efforts in aerospace technology coupled with technological advancements resulting in development of highly advanced flight simulators.

• By End Use Industry – Flight simulator for military and defense application is likely to register a CAGR of 4.2% during forecast period 2021-2026. Globally, training budgets for defense organizations and armed forces are tightening, while requirements to deliver cost-effective, high-quality training are increasing. Governments across the world are reducing military costs due to reduced financial resources.

• By Geography – North America dominated the Flight Simulator industry market size for about 38.1% market share, followed by APAC and Europe. Early adoption of advanced technologies has been driving the simulator in this region. Rising adoption of smart technologies in aerospace, defense and other has been increasing the demand for simulators In U.S. strict guidelines imposed by the Federal Aviation Administration (FAA) and Federal Aviation Regulations (FARs) regarding use of simulators for training purpose.

Click on the following link to buy the Simulator Market Report:
https://www.industryarc.com/reports/request-quote?id=19658

Competitive Landscape:

The top 5 players in the Simulator Industry are –

1. CAE
2. Boeing
3. FlightSafety Inc.
4. L3 Harris Technology
5. Thales

Click here to browse the complete report summary:
https://www.industryarc.com/Report/19658/simulators-market.html

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Simulation Software Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2020 – 2025:

https://www.industryarc.com/Research/Simulation-Software-Market-Research-500917

B. Flight Simulator Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 – 2024:

https://www.industryarc.com/Research/Flight-Simulator-Market-Research-503974

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Mr. Venkat Reddy
IndustryARC
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IndustryARC
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