Simulators Market worth $34.9 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 28, 2022 /PRNewswire/ -- According to a research report "Simulators Market by Application (Commercial Training, Military Training), Solution (products, Services), Platform (Airborne, Land, Maritime), Technique (Live, Virtual & Constructive, Synthetic Environment, Gaming), Type, Region - Global Forecast to 2027", published by MarketsandMarkets™, the Simulators market size is projected to grow from USD 25.5 billion in 2022 to USD 34.9 billion by 2027, at a CAGR of 6.5% from 2022 to 2027.The growing demand for pilots in the aviation industry and the acceptance of virtual pilot training to ensure aviation safety are some of the significant factors attributing to the growth of the simulators market during the forecast period. The need for cost-cutting in pilot training and the reduction in military budgets of developed countries are driving the growth of the market.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110549963

The air traffic control simulators segments are projected to register the highest growth rate during the forecast period

The air traffic control simulators segment is projected to register the highest growth rate during the forecast period. Air traffic control towers house major equipment, resulting in the highest growth rate for the air traffic control simulators segment.

The maritime segment projected to lead the simulators market during the forecast period

Based on the platform, the maritime segment will lead the simulators market during the forecast period. This segment has been further segmented into military, commercial, and unmanned maritime vehicles. Owing to the huge demand for new ships and the rise in seaborne trade globally. The deployment of new ships will lead to a requirement for new ship crew members, in turn fueling the demand for simulators to train them.

Browse in-depth TOC on "Simulators Market" 
200 – Tables
60 – Figures
280 – Pages 

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=110549963

"Asia Pacific is projected to lead the market during the forecast period."

The Asia Pacific is one of the potential markets for commercial and military simulators and is accounted for the largest market share in 2021. An increase in passenger traffic is the major reason for increased demand for pilots, especially in countries such as India, Indonesia, South Korea, Australia, Vietnam, and the Philippines. An increase in air travel is a result of the rise in the economic status of the middle-class population and the introduction of low-cost carriers. According to Airbus, the training facilities present in the Asia Pacific region as of 2020 can only train 5,500 pilot and aircrew members annually. In contrast, the requirement is expected to rise more in the next two decades. The expanding airlines in the region need more pilots to meet the demand for air traffic.

The key market players in the simulators market are CAE Inc. (Canada), L3Harris Technologies, Inc. (US), Thales SA (France), Saab AB (Sweden), Indra (Spain), Flight Safety International (US), The Boeing Company (US), Airbus S.A.S. (Netherlands), Tru Simulaion + Training Inc. (US), and Raytheon Company (US).

Related Reports:

Flight Simulator Market by Platform (Commercial, Military, UAV, Helicopter Simulator), Type (Full Flight, Flight Training Device, Full Mission, Fixed based), Training (Virtual, Line), Solution (Product, Services) and Region (2019-2025)

Military Simulation and Training Market by Application (Army, Aviation, Naval), Type (Live, Virtual, Constructive), Platform (Land, Maritime, Airborne), Solution, Environment (Synthetic, Gaming), Technology & Region - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/simulator-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/simulator.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg