Simulator based training services has gained popularity as they help the pilots in their aircraft flying training. The regulatory authorities in the aviation industry of the countries have made the use of helicopter simulators for the new pilots. However, the investments have increased to a large extent in the development of helicopter simulators, thus propelling the growth of the market during the forecast period.
Increasing demand for trained pilots in civilian market who are required for general jobs for instance, emergency medical services and commercial flying, rising need for safety and cost effectiveness in the aviation sector, fluctuating fuel costs and minor maintenance and repair costs are factors contributing to the growth of the market. There are number of contracts that have contributed towards the growth of the market such as in 2016, Flight Safety International had signed an agreement with Airbus in order to provide training to Helicopter EC145 operators.
The global helicopter simulator market is anticipated to record a CAGR of around 4.21% over the forecast period i.e. 2019-2027. The market is segmented by simulator type, component & application. By simulator type, the market is further bifurcated into live simulator and virtual simulator out of which, virtual simulator segment is anticipated to have leading shares on account of increasing demand for safety in training which is not achieved in live training.
The market is further segmented by component into full flight simulator, fixed based simulator & classroom trainers out of which, full flight simulators segment is expected to have leading shares owing to increase in the demand for cost effective simulation systems. They provide realistic flying experience to the pilot and provides movement in all six degrees of freedom (DOF), 3 rotational, 3 linear or translational that can be experienced by any object which is free to move. The movement is in sync with the visual display of helicopter training site that provides full-fidelity helicopter training.
On the basis of application, the market is segmented into commercial, military and others out of which, the military segment is anticipated to have leading shares as compared to commercial segment attributing to high adoption of helicopters in the military segment. Many pilots are trained in the military sector in comparison to commercial sector.
In the recent years, the regulatory requirement and the processes for pilot certification has become stringent owing to this, there has been a growth in the number of certified pilots. The increasing need for trained pilots is creating a demand for helicopter simulators. Rising emphasis on the safety of pilots during the training has led to the adoption of simulators for pilot training and ultimately driving the growth of the market. New developments and innovations in the market have contributed to the growing demand for helicopter simulators customized according to the respective control systems.
The manufacturing cost along with the on-going operation and maintenance cost is very high that may lead to limited adoption of the technology. Moreover, there is a limited physical environment for the implementation of helicopter simulators. These factors are anticipated to restrict the growth of the market during the forecast period.
Our-in depth analysis of the global helicopter simulator market includes the following segments:
By Simulator Type
On the basis of regional analysis, the global helicopter simulator market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Currently, North America dominated the market with maximum market share and is anticipated to continue its dominance on account of having the highest military power and commercial helicopter fleet in the world. Asia Pacific region is anticipated to witness significant growth owing to increasing procurement of helicopters especially for military in various countries such as India, China, South Korea and Japan. Moreover, helicopter accidents during the training have increased to large extent in countries such as India and this has made the countries to emphasize more on simulator-based training for helicopters.
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The global helicopter simulator market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.