Global Simulators Market: Comprehensive Analysis 2023

Major players in the simulators market are CAE Inc., The Boeing Company, FlightSafety Inc., Thales Group, Airbus S.A.S, Raytheon Technologies Corporation, SimScale GmbH, Frasca International Inc., Kongsberg Gruppen, Saab AB, Tecknotrove Systems Pvt. Ltd., Indra Sistemas S.A, Elbit Systems Ltd., Northrop Grumman Corporation, BAE Systems PLC., Dassault Systèmes, The AnyLogic Company, Simulations Plus Inc., Materialise NV, HAVELSAN A.S and Emerson Electric Co.

The global simulators market is expected to grow from $20.53 billion in 2022 to $21.69 billion in 2023 at a compound annual growth rate (CAGR) of 5.62%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The simulators market is expected to reach $27.40 billion in 2027 at a CAGR of 6.02%.

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.

A simulator is a computer program or device that models the behavior of a system or process that allows users to study, test, and predict the behavior of the system or process in a controlled and safe environment. It encourages critical and evaluative thinking which encourages users to participate in the exercise more eagerly and interactively.

North America was the dominating region in the simulators market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of simulators are 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 are designed to recreate the physical surroundings and controls of a ship’s wheelhouse or bridge and it is employed for the training and assessment of seafarers and the research and development of ports, waterways, and vessels.

Majorly uses various techniques such as live, virtual, game-based, and constructive in different platforms such as airborne, land, and maritime and are applied for training, research and development, and vehicle assistance in various industries such as aerospace and defense, manufacturing, oil and gas, healthcare, automotive, electrical and electronics, and others.

The increasing demand for pilots in the aviation industry is expected to propel the growth of the simulator market going forward.Pilots are the professionals who operate and fly aircraft to transport passengers, and cargo, or perform other tasks related to aviation.

Simulators are frequently used in pilot training in the aviation industry that allow pilots to practice their skills and gain experience in a realistic but controlled environment to avoid actual safety risks for the trainees and instructors such as troubleshooting procedures in a safe environment, and learning from mistakes. For instance, in July 2022, according to the report published by The Boeing Company, a US-based company involved in the design, manufacturing, and sales of airplanes, Over the next 20 years, there will be a need for 2.1 million new aviation professionals to safely support the recovery in commercial air travel and meet escalating long-term growth. Whereas, the long-term forecasts indicate that the global commercial fleet will require 602,000 pilots, 610,000 maintenance technicians, and 899,000 cabin crew members during the next two decades and the global fleet is predicted to nearly treble and reach 47,080 planes by 2041. Therefore, the increasing demand for pilots in the aviation industry is driving the growth of the simulator market.

Development in technology is a key trend gaining popularity in the simulator market.Companies operating in the simulator market are adopting new technologies to sustain their position in the market.

For instance, in March 2021, SimScale GmbH, a German-based engineering simulation company, launched a new Computer-Aided Design (CAD) editing platform.SimScale CAD Mode is designed to provide engineers and designers with an intuitive and cloud-based CAD environment for preparing 3D models for simulation by integrating CAD editing capabilities directly into its cloud-based simulation platform.

It aims to streamline the simulation workflow for engineers and designers, reducing the time and cost associated with preparing models for analysis.

In July 2021, CAE Inc., a Canada-based manufacturer of simulation technologies acquired L3Harris Technologies for a deal of $ 1.05 billion. Through this acquisition, CAE Inc. aims to expand its portfolio in platform-agnostic training and simulation systems across multi-domain operations. L3Harris Technologies is a US-based aerospace and defense technology company with a portfolio of simulation products and training solutions.

The countries covered in the simulators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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.

The simulators market research report is one of a series of new reports that 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.