Update News: Simulators Market To Reach USD 24.7 Billion In 2027 | CAGR 3.7% — Forencis Research

  • According to the new market research report “Simulators Market by Type (Flight Training Devices, Full Flight) by Components (Hardware & Software) by Technology (Live, Virtual) by Service (Operator Training & Maintenance)) by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) — Global Forecast from 2019 To 2027”, the global simulators market is estimated to reach USD 24.7 Billion in 2027 at a CAGR of 3.7% during forecast period 2019–2027
  • The market is growing on the grounds of rising global demand for pilots coupled with higher need to reduce the overall training cost
  • However, high initial cost of the simulators is projected to hinder the growth of this market during the forecast period.
  • The simulator market is witnessing growth on account of rising global demand for pilots. Increasing need for pilots owing to hike in count of the air travelers, rise in flight iteration, increase in low cost carriers with growing economies are the some of the prominent factors driving the market growth
  • Higher need to minimize the overall cost associated with the pilot training in further fueling the adoption of the simulators. Higher expenses are dedicated towards training the pilots to ensure higher safety.
  • Higher initial cost of the simulators is hampering the overall market. Installation of advanced software and hardware systems to offer higher clarity in training sums to the higher initial cost
  • Higher Inclination Towards Virtually Real (VR) Simulator is an opportunity for the simulator market. Inexpensive alternative to building an actual training cockpit, smaller in size and portable are the factors increasing attention towards VR simulator
  • Asia-Pacific
  • Middle East & Africa
  • CAE Inc.:
  • TRU Simulation + Training Inc.:

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