Simulators Global Market Report 2024

The simulators market has grown strongly in recent years. It will grow from $21.69 billion in 2023 to $22.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The expansion observed in the historical period can be attributed to the increased integration of augmented reality (AR), particularly in sectors such as automotive and aviation training. Military and defense applications also played a significant role in this growth, along with the broader adoption of healthcare simulation. Furthermore, the use of simulated environments for industrial training contributed to the overall growth during this period.

The simulators market is expected to see strong growth in the next few years. It will grow to $29.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period is driven by a heightened emphasis on personalized learning strategies, along with the expansion of the market into diverse sectors. Customization and adaptability are expected to play a key role in this growth trajectory, alongside an increase in educational simulated environments and the proliferation of industrial and machinery simulation. Noteworthy trends projected for the forecast period encompass advancements in virtual reality (VR), the integration of augmented reality (AR), a surge in the adoption of gamification, the implementation of remote training solutions, and a growing prevalence of healthcare simulation.

The escalating demand for pilots within the aviation sector is anticipated to drive the growth trajectory of the simulator market in the foreseeable future. Pilots, entrusted with the operation and navigation of aircraft for the transportation of passengers and cargo, heavily rely on simulators for training purposes. These simulators offer a realistic yet controlled environment, allowing pilots to hone their skills, practice troubleshooting procedures, and learn from errors without exposing trainees and instructors to actual safety risks. As per a July 2022 report from The Boeing Company, a leading US-based aerospace firm, the aviation industry will require approximately 2.1 million new professionals over the next two decades to bolster commercial air travel recovery and meet burgeoning long-term demand. Furthermore, global projections indicate a need for 602,000 pilots, 610,000 maintenance technicians, and 899,000 cabin crew members by 2041, with the global fleet anticipated to nearly triple, reaching 47,080 planes. Consequently, the surging demand for skilled pilots is a key catalyst propelling the simulator market's growth.

The sustained expansion in global air traffic is poised to further fuel the simulator market's growth in the coming years. Air traffic encompasses the movement of aircraft within airspace, encompassing a wide spectrum of aviation activities ranging from private and recreational flights to cargo and commercial operations. Simulators play a pivotal role in enhancing safety, optimizing efficiency, and equipping aviation personnel with the requisite skills by providing a realistic and risk-mitigated environment for training, testing, and research. For instance, according to data from the International Air Transport Association in October 2023, Asia-Pacific airlines witnessed a 98.5% surge in traffic in August 2023 compared to the same period in 2022, solidifying their dominance in the region. Concurrently, the load factor increased by 5.5% to 84.2%, and capacity saw an 85.5% expansion. In light of these developments, the sustained growth in air traffic emerges as a significant driver propelling the simulator market forward.

The simulator market is witnessing a notable trend characterized by advancements in technology, with companies actively incorporating new technologies to enhance their market standing. A prime example of this trend is demonstrated by SimScale GmbH, a German engineering simulation company, which, in March 2021, introduced a cutting-edge Computer-Aided Design (CAD) editing platform. Known as SimScale CAD Mode, this platform seamlessly integrates CAD editing capabilities into its cloud-based simulation platform, providing engineers and designers with an intuitive and cloud-based environment for preparing 3D models for simulation. The primary goal is to streamline the simulation workflow, thereby reducing the time and costs associated with model preparation for analysis.

Strategic partnerships represent another prominent approach adopted by major companies in the simulator market to expedite the digital transformation within the automobile industry. An illustrative instance is the partnership announced in October 2023 between VI-grade GmbH, a Germany-based provider of solutions for simulation-driven vehicle development, and JEDAi, a Spain-based consulting firm specializing in the digital transformation of advanced automobiles. This collaboration aims to facilitate rapid digital transformation, innovative process formulation and execution, people empowerment, and capitalization to enhance added value at all stages of development. JEDAi will offer implementation guidance for virtual engineering workflows, driver coaching, and onboarding related to driving simulator technology. The collaboration also involves leveraging digital twin procedures, utilizing reliable virtual automobile and tire models, and incorporating data intelligence services, such as neural networks and artificial intelligence, to ensure optimal performance.

In July 2021, CAE Inc., a Canada-based manufacturer of simulation technologies, acquired L3Harris Technologies for $1.05 billion. This strategic acquisition is geared towards expanding CAE Inc.'s portfolio in platform-agnostic training and simulation systems across multi-domain operations. L3Harris Technologies, a US-based aerospace and defense technology company, brings a comprehensive portfolio of simulation products and training solutions to further augment CAE Inc.'s capabilities in the domain.

Major companies operating in the simulators market report are CAE Inc., The Boeing Company, FlightSafety Inc., Thales Group, Airbus SAS, Raytheon Technologies Corporation, SimScale GmbH, Frasca International Inc., Kongsberg Gruppen ASA, Saab AB, Tecknotrove Systems Pvt. Ltd., Indra Sistemas S.A, Elbit Systems Ltd., Northrop Grumman Corporation, BAE Systems plc, Dassault Systèmes SE, The AnyLogic Company, Simulations Plus Inc., Materialise NV, HAVELSAN A.S, Emerson Electric Co., Siemens AG, Rockwell Automation Inc., Schneider Electric SE, Autodesk Inc., Ansys Inc., Altair Engineering Inc., The MathWorks Inc., Cybernet Systems Corp., Bentley Systems Incorporated, PTC Inc., CPFD Software LLC, Design Simulation Technologies Inc., Synopsys Inc., Simio LLC, Lanner Group Ltd., SIMUL8 Corporation, CONSELF Srl, SolidWorks Corporation.

North America was the dominating region in the simulators market in 2023. The regions covered in the simulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the simulators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are several types of simulators catering to diverse industries, including full mission bridge simulators, full flight simulators, driving simulators, fixed-based simulators, flight training devices, vessel traffic control simulators, land forces training simulators, full mission flight simulators, and air traffic control simulators. Full mission bridge simulators, for example, replicate the physical aspects and controls of a ship's wheelhouse or bridge, serving the training and assessment needs of seafarers. These simulators are also instrumental in the research and development of ports, waterways, and vessels. Simulators utilize various techniques such as live, virtual, game-based, and constructive across different platforms such as airborne, land, and maritime. They find applications in training, research and development, and vehicle assistance across a wide array of industries, including aerospace and defense, manufacturing, oil and gas, healthcare, automotive, electrical and electronics, among others.

The simulators market research report provides simulators market statistics, including simulators industry global market size, regional shares, competitors with a simulators market share, detailed simulators market segments, market trends and opportunities, and any further data you may need to thrive in the simulators industry. This simulators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The simulator market consists of revenues earned by entities by providing embedded (on-site) engineering, methods development, process development, process automation, design exploration and optimization, material calibration, realistic rendering, forensic analysis, project engineering. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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