Simulator Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The air segment of the market studied is expected to register the highest CAGR during the forecast period. This is majorly due to the complexity and risk involved in aircraft than compared to the other end users. For example, a single mistake by pilots on board a passenger aircraft while landing or take-off may cost the lives of all the passengers on aircraft. Such complexity has made the regulatory bodies, like the FAA, to mandate the use of simulators for pilot training. Moreover, the use of new aircraft in the military may require training for pilots to familiarize themselves with the latest equipment and systems. In such situations, providing hands-on experience may be difficult due to high-cost involvement. In such cases, the simulators act as the preferred option.

The Asia-Pacific region is anticipated to have the highest growth during the forecast period. The investments in the aviation industry by public and private companies, along with the growth of tourism in countries, like China, India, Japan, Indonesia, South Korea, Singapore, Thailand, Malaysia, Australia, and Vietnam, are some of the major driving factors of the simulator market. Additionally, increasing defense spending and the territorial issues between the countries are resulting in the procurement of new aircraft, land vehicles, and naval vessels, like frigates, destroyers, and submarines, etc. This procurement of new equipment may generate demand for trained military personnel to handle the equipment, which in turn, may increase the demand for advanced simulators. The aforementioned factors are some of the major factors that are propelling the growth of the simulator market in this region.