MarketsandMarkets’ research report, "Simulators Market by Type, Technology, Application, Vehicle, Component, Region - Global Forecast to 2022", indicates that the market for simulators, estimated at $16.62 Billion in 2017, is projected to reach $20.99 Billion by 2022, at a CAGR of 4.78%. The growing need to train new pilots across the globe and increasing adoption of virtual training to ensure safety are a few key factors driving the simulators market.
Report Findings
- Based on application, the commercial application segment of the market is projected to grow at a higher CAGR during the forecast period.
- Based on technology, the integrated training environment segment of the simulators market is projected to grow at the highest CAGR from 2017 to 2022.
- Based on technology, the integrated training environment segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing adoption of integrated training environment to train military personnel and pilots across airborne, land, and naval vehicles.
- Based on vehicle class, the land vehicle class segment of the market is projected to grow at the highest CAGR from 2017 to 2022.
- Based on vehicle class, the land vehicle class segment of the market is projected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the increasing number of land vehicle orders for military applications, globally.
- Based on type, the containerized simulators segment is projected to grow at the highest CAGR from 2017 to 2022.
- Based on type, the containerized simulators segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for simulator training in the shipping industry.
- Based on component, the software segment of the simulators market is projected to grow at a higher CAGR from 2017 to 2022.
- Based on component, the software segment of the simulators market is projected to grow at a higher CAGR during the forecast period.
- Asia Pacific is expected to be the fastest-growing market for simulators during the forecast period.
- Companies that provide simulators are CAE (Canada), L-3 Technologies (US), FlightSafety (US), Boeing (US), Thales (France), FAAC (US), ECA (France), and Lockheed Martin (US). These key players offer various products, such as full mission simulators, flight training devices, full flight simulators, fixed based simulators, and containerized simulators. New product developments, acquisitions, and contracts are main strategies adopted by these players to retain their position in the market.
If you need to stimulate more simulator info, you can browse the report.
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