Global Flight Simulator Market Worth $7.54 Billion by 2021

global-flight-simulator-market-worth-7-54-billion-by-2021

Photo: Aviation Voice

The global flight simulator market is expected to grow from USD 6.18 billion in 2016 to USD 7.54 billion by 2021, at a CAGR of 4.1% from 2016 to 2021.

The market is mainly driven by factors such as the need for more pilot training given the rise in air traffic, the adoption of virtual training for pilots, and the need for cost-effective pilot training.

The key applications considered for the market study are military and commercial. The commercial segment is projected to grow at the highest CAGR during the forecast period, owing to the rising demand for commercial pilots to meet the growing fleet size. The military segment accounted for the largest share of the global flight simulator market in 2015.

In 2015, North America led the global flight simulator market, and is expected to continue its dominance till 2021. North America has the highest simulator utilization rate. The global flight simulator market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. High demand for air travel, which is the major reason behind the increased need for pilot training, is expected to boost the flight simulator market.

Source: businesswire.com

GetSocial