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Military Aerospace Simulation and Training - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2031
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The Military Aerospace Simulation and Training Market size is estimated at USD 3.06 billion in 2024, and is expected to reach USD 3.52 billion by 2031, growing at a CAGR of 2.03% during the forecast period (2024-2031).
The COVID-19 pandemic halted all the major operations across the globe, although military training and operations were not affected. Despite the flattened economy curve, military expenditure had shown a Y-o-Y growth which possessed a subsequent impact on the military aircraft simulation and training market.
The increasing military aircraft fleet of countries worldwide generates the demand for trained and qualified pilots to operate them. This increasing need for trained pilots is propelling the growth of the military aircraft simulation and training market during the forecast period.
The development of new and advanced aircraft and an increase in the cost involved in real-time pilot training for these advanced aircraft are the other main factors supporting the growth of the market.
Military Aircraft Simulation & Training Market Trends
Fixed-wing Segment Anticipated to Experience the Highest Growth During the Forecast Period
The fixed-wing segment is currently dominating the market and is expected to register the highest CAGR during the forecast period. This is majorly due to the development and procurement of new aircraft models by the armed forces around the world. Governments are partnering with simulator and training providers to grow hand in hand. Technology advancement in AI (Artificial Intelligence) is becoming a significant facet of training in the future. Additionally, new aircraft development programs by the OEMs are yet another propelling factor supporting the growth of this segment during the forecast period. The increasing military aggression worldwide has necessitated the need for aircraft of much higher capacity to fly in the vent of combat. Also, it is getting equally important for pilots to be capable of operating these aircraft in adversary territories and situations.
Owing to this, the need for fixed-wing simulators has never been higher as much as in recent years. As a result, many technology manufacturers and next-generation technology providers have developed new products to cater to this market. For instance, in March 2021, Turkish Defense contractor Havelsan's engineers and the Airforce Command aircraft maintenance technicians developed a simulation system to maintain F-16 fighter jets. The company aims to export these systems through the F-16's aircraft manufacturing company, thereby increasing the market penetration and growth opportunities during the forecast period.
Asia-Pacific to Experience the Highest Growth During the Forecast Period
The Asia-Pacific region is anticipated to have the highest growth during the forecast period. The rapid growth in military spending of the Asia-Pacific countries is the major driving factor for its highest growth in the military aircraft market. Currently, this region is in the midst of political and territorial issues, which are generating the demand for aircraft and UAVs for border surveillance and protection. Also, the countries are investing in the integration of the latest technologies to improve the effectiveness of the training. The innovation and the need for advanced aircraft simulators are generating the demand for military aircraft training and simulation in this region.
With the increasing military aggression from China, multiple countries in Asia are opting to improve both their attack and defense capabilities. Owing to this, several fighter jet purchase and development programs have been witnessed over the years. As a result, the need for simulators has increased by multiple folds to train pilots to operate the jets successfully and effectively. Many national governments have also invested in increasing their simulator capabilities as a result. For instance,
In November 2021, the Defense Ministry of India announced the procurement of 2 fixed base full mission simulators for the Jaguar aircraft from Hindustan Aeronautics Limited (HAL). The simulators would be procured for the IAF at a combined cost of INR 357 crore and installed at Air Force Stations in Jamnagar and Gorakhpur. Owing to multiple other similar developments, this market segment is expected to witness a significant growth rate during the forecast period.
Military Aircraft Simulation & Training Industry Overview
Some of the few prominent players in the military aircraft simulation and training market are CAE Inc., FlightSafety International, Thales Group, Lockheed Martin Corporation, and Textron Inc. (TRU Simulation + Training), with medium-level consolidation of the market. The leading training and simulation manufacturers have experienced strong revenue growth in the past few years. This growth is expected to increase with a continuous need for simulators to reduce costs and improve the readiness of military pilots. In addition, the development of new simulation and training devices is expected to help them increase their market presence.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Simulator Type
5.1.1 Full Flight Simulator (FFS)
5.1.2 Flight Training Devices (FTD)
5.1.3 Other Simulator Types
5.2 By Aircraft Type
5.2.1 Rotorcraft
5.2.2 Fixed-Wing
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 France
5.3.2.3 Germany
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 L3Harris Technologies Inc.
6.2.2 Collins Aerospace (United Technologies Corporation)
6.2.3 BAE Systems PLC
6.2.4 The Boeing Company
6.2.5 CACI International Inc.
6.2.6 Cae Inc.
6.2.7 Merlin Simulation Inc.
6.2.8 Lockheed Martin Corporation
6.2.9 Thales Group
6.2.10 TRU Simulation + Training Inc.
6.2.11 Rheinmetall AG
6.2.12 Northrop Grumman Corporation
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