Global pilot training market projected to grow to USD 20.8 billion by 2033 with advancements in technology
From GlobeNewswire: 2024-06-26 16:00:00
The global pilot training market is projected to grow from USD 8.5 billion in 2023 to USD 20.8 billion by 2033, driven by rising demand for commercial pilots and advancements in training technologies like VR and AI. Government initiatives and investments in aviation infrastructure are also fueling growth, despite barriers such as high training costs and regulatory standards.
The pilot training market value chain involves multiple key steps, including creating training programs, providing advanced equipment like flight simulators and AI tools, and certifying compliance with safety regulations. Training providers use these resources to offer complete training to aspiring pilots, with ongoing research and development aiming to enhance training methods and equipment.
Insights by aircraft type show that the airplane segment holds the largest market share thanks to rising demand for commercial air travel and airline fleet expansions. Advanced technologies like next-gen simulators and VR training modules are enhancing training efficiency and safety, while low-cost carriers and new airlines are driving demand for professional pilots.
The Commercial Pilot License (CPL) segment dominates the market due to fleet expansions and new routes opening up. Government incentives and subsidies, along with advanced technologies like flight simulators and VR, are making training more accessible and efficient despite high costs and regulatory requirements.
Flight training mode is leading the market share with traditional training being complemented by sophisticated simulators and VR systems, improving training realism and safety. These technologies are making pilot education more affordable, with e-learning and online courses providing flexibility and comprehensive training programs to meet the increasing demand for skilled pilots.
North America is set to dominate the pilot training market from 2023 to 2033, driven by the US and Canada with their advanced aviation infrastructure and technology integration into training programs. In Asia Pacific, the fastest market growth is observed, necessitating a greater number of skilled pilots and prompting investments in modern training technologies and government initiatives to accelerate growth.
Key vendors in the global pilot training market include ATP Flight School LLC, CAE Inc., L3Harris Technologies Inc., and others, with recent developments such as partnerships between flight training providers to offer unique pilot pathway plans. Market segmentation includes analysis by aircraft type, license type, training mode, and region, providing a detailed forecast from 2023 to 2033.
Read more at GlobeNewswire: Global Pilot Training Market Size To Worth USD 20.8 Billion