The global simulator market was valued at USD 18.07 billion in 2023 and is expected to grow from USD 19.67 billion in 2024 to USD 32.38 billion by 2032, with a compound annual growth rate (CAGR) of 6.4% during the forecast period. North America led the market, accounting for a 36.75% share in 2023.
The simulator market refers to the industry that develops and sells simulators, which are computer-based systems designed to replicate real-world environments or processes for training, education, research, or entertainment purposes. Simulators are widely used in various industries, including aviation, military, healthcare, automotive, gaming, and virtual reality (VR).
List of Key Players Mentioned in the Report:
CAE Inc. (Canada)
Raytheon Technologies Corporation(U.S.)
L3 Harris Technologies Inc. (U.S.)
BAE Systems Plc (U.K.)
Boeing Company (U.S.)
Frasca International Inc (U.S.)
Tecknotrove Systems Pvt Ltd (India)
Kongsberg Group (Norway)
Indra Sistemas, SA (Spain)
PulseWorks LLC (U.S.)
Cre8tive Rooms LLC (U.K.)
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/simulator-market-107016
COVID-19 Impacts:
Simulator Deliveries Were Delayed Due to COVID-19 Pandemic
The COVID-19 pandemic outbreak and strict lockdown procedures had a significant impact on the simulator business, forcing temporary closure of aircraft, automotive, and marine simulator facilities. The pandemic had a significant influence on the aviation and automotive industries. The number of active pilots abruptly decreased. Such simulant supply was delayed as a result of the decline in pilot demand.
Segments:
By Type:
Flight Simulators
Driving Simulators
Medical Simulators
Construction Simulators
VR Simulators
Others
By Application:
Aviation
Military and Defense
Healthcare
Automotive
Gaming and Entertainment
Education and Research
Others
By Technology:
Virtual Reality (VR) Simulators
Augmented Reality (AR) Simulators
Mixed Reality (MR) Simulators
Desktop Simulators
Full-Motion Simulators
Fixed-Base Simulators
Mobile Simulators
Others
By End-User:
Training and Education Institutes
Defense Organizations
Aviation Companies
Healthcare Institutions
Automotive Manufacturers
Gaming Companies
Research Institutes
Others
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Report Coverage:
The report presents a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report.
Drivers and Restraints:
Increasing Demand For Training Applications In Military, Aviation, and Naval Sectors Will Drive The Growth Of Simulant Market
The simulator market is expected to witness significant growth due to the increasing adoption of simulators in various military and commercial training applications, such as maritime training, driving instruction, and aviation training. The Armed Forces recognize the benefits of simulators, including cost savings, enhanced safety, realistic training environments simulating diverse combat scenarios, accelerated training, and preservation of crucial operational equipment from wear and tear.
Regional Insights:
North America to Lead Backed by the Presence of Huge Number of Pilot Shortage
In 2021, the market was led by North America. In 2021, the North American market had a value of USD 5.28 billion. The highest number of pilot shortages led to the simulator market growth.
With notable aircraft producers, such as Airbus, Thales Group, and Indra Sistemas, in this region, the market in Europe was expected to have the second-largest simulator market share in the base year.
During the forecast period, the market in Asia Pacific is anticipated to develop at the greatest CAGR. The growth of the airline sector and the demand for qualified pilots in developing nations such as China and India are both being fueled by the Asia Pacific region's growth in air travel.
Competitive Landscape:
Key Players Sign Significant Contracts to Make Remarkable Changes in the Market
The players operating in the market often employ numerous tactics that will aid the market growth and product demand. Among the pool of strategies, one such notable strategy to expand the business prospect is signing multimillion contracts with government bodies and securing a profitable revenue for their own company.
Key Industry Development:
May 2022: Thales has been given a multimillion dollar contract by Airbus Defense and Space to provide the Royal Air Force with a second full-flight simulator for the Airbus A400M military transport aircraft. Reduced hours of actual aircraft flight training is possible due to the A400M simulator's realistic training capabilities.