Market Trends of Military Aerospace Simulation and Training Industry
This section covers the major market trends shaping the Military Aircraft Simulation & Training Market according to our research experts:
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.
