Simulator Market overview:
In a recent research report by Market Research Industry, the Simulator Market is expected to surpass USD 27.45 Billion by the year 2028, from USD 17.25 Billion in 2021.
The simulator market is projected to grow at a significant pace reaching a CAGR of approximately 8.25%, over the forecast period of 2022–2028, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
A simulator is a system that simulates training by combining software and hardware. Simulators are used to train commercial and military crew members on airborne, land, and maritime platforms. It provides training in live, virtual and constructive simulation, synthetic environment simulation, and gaming simulation. Factors such as the increasing use of virtual pilot training and use in the air accident investigations, the simulators market is expected to grow during the forecast period.
The End-Use segment is categorized into civil aviation, defense & security, gaming, and others. Gaming sub-sectors are expected to dominate the market. As gaming simulators allow players to experience elements which is physically impossible to recreate. As a result, the market for Gaming Simulators is expected to grow in the near future.
By region, Asia Pacific is expected to hold the largest market share in 2021, with North America experiencing the highest CAGR during the forecast period. The increase in air traffic and the commercial aircraft fleet are factors responsible for market growth. Furthermore, the virtual training and simulation market is expected to grow as a result of technological advances. Sectors such as healthcare, digital manufacturing, gaming, e-learning have contributed to the growth. This, in turn, augments the use of simulation solutions.
The study is consolidated into major segments and further into sub-segments, such as by Component (Hardware, Software), Application (Commercial Training, Military Training), End-Use (Defense & Security, Civil Aviation, Gaming, and Others), to forecast the simulators market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Airbus S.A.S., Havelsan Inc., CAE Inc, The Boeing Company, Flight Safety International, Indra, Saab AB, Thales SA, L3Harris Technologies, Inc., LOCKHEED MARTIN CORPORATION.
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