Market Size of Civil Aerospace Training And Simulation Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.81 Billion |
| Market Size (2029) | USD 2.51 Billion |
| CAGR (2024 - 2029) | 6.64 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Civil Aerospace Simulation and Training Market Analysis
The Civil Aerospace Training And Simulation Market size is estimated at USD 1.81 billion in 2024, and is expected to reach USD 2.51 billion by 2029, growing at a CAGR of 6.64% during the forecast period (2024-2029).
Airlines around the globe were aggressively pursuing fleet expansion and network expansion plans before the emergence of the COVID-19 pandemic. However, following the impact of the COVID-19 pandemic, the airlines have canceled and deferred aircraft orders as well as furloughed their pilots to mitigate the losses due to the impact felt by the pandemic. The aviation industry started recovering in 2022 and gradually returning to its pre-COVID-19 level. According to the latest updates from IATA, ICAO, the Airports Council International (ACI), the UN World Tourism Organization (UNWTO), the World Trade Organization (WTO), and the International Monetary Fund (IMF), the international air passenger traffic in 2022 has improved compared to that of 2021. With the recovery of the aviation industry in 2022, the orders and deliveries of commercial aircraft witnessed a gradual increase, which led to a simultaneous increase in demand for simulators and training devices.
As the aviation industry is expected to return to pre-COVID levels and the fleet of commercial aircraft is expected to increase, the demand for pilots is also expected to increase. Also, currently, many airlines are facing the issue of a pilot shortage, which is affecting their daily operations. Generally, flights longer than 12 hours require a team of four pilots. However, several airlines are still operating such long-haul routes with three pilots due to a shortage of pilots. The shortage of pilots is expected to drive demand for new simulation and training solutions.Also, the planned investments in human space exploration programs during the forecast period are anticipated to generate demand for simulators for astronauts and training solutions in the coming years.
