PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250749
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250749
According to Stratistics MRC, the Global Pilot Training Market is accounted for $3.09 billion in 2022 and is expected to reach $16.02 billion by 2028 growing at a CAGR of 31.55% during the forecast period. The process of learning to fly a plane is known as pilot training. Typically, it includes simulator training, in-person training, and classroom teaching. Basic flying skills including taxing, takeoffs, landings, and aeronautical navigation are typically covered in the first few weeks of training. Instrument flying, flight manoeuvres, and aviation laws are more complex ideas. The purpose of pilot training is to equip students with the information and abilities needed to fly an aircraft in a safe and efficient manner.
According to the International Civil Organization (ICAO), due to Covid-19 pandemic, 80.3% of students experienced a delay in their flight training and 54.8% of students experienced delayed graduation.
Rising demand for skilled pilots
The greater need for qualified pilots is expanding the use of sophisticated flight training techniques. A flight training curriculum for pilot training includes both ground and flying schools. It lasts for 10 to 22 months. The launch of new air routes caused the lack of pilots. This increased the demand of skilled pilots and pilot training institutions. All these aspects are driving the market expansion.
Risk of safety
The hazards associated with flying happen suddenly. Events or mistakes take place outside of the control of the flight crew. The students must handle a variety of contextual difficulties. There is risk to pilot's physical and mental well-being, as well as tiredness, drug interactions, and stress. Unexpected and startling calamities do happen occasionally. These problems are impeding the expansion of the pilot training industry.
Incorporation of advanced technologies
The popularity of training systems is projected to increase when sophisticated technology and virtual reality are incorporated. The effectiveness of training increased as safe travel practices were more widely adopted. A pilot can securely operate their aircraft in a challenging area with a high hazard level with the advancements in travel-related technology. These factors are promoting market expansion.
Initial certification costs
During pilot training, the first certification fee is fairly substantial. A multi-engine instrument rating and a pilot license at a DGCA-approved, reputable flight school almost cost between 35 and 40 lakhs. Factors such as rent, taxes, maintenance, and licensing call for substantial financial backing. The requirement of solid funds is hampering the market expansion's growth.
Due to restrictions on air travel, this market suffered during the COVID-19 epidemic. Government rules on travel and transportation have become more severe as a result of the worrisome increase of COVID-19 infections. Restrictions on physical fitness also restricted market expansion. Yet, the pandemic's aftermath gave manufacturers the opportunity to resume operations and boost sales. This element accelerated the growth of this sector during the epidemic.
The full flight simulator segment is expected to be the largest during the forecast period
The full flight simulator segment is estimated to have a lucrative growth, due to its efficiency. In order to investigate new business potential, full flight simulators concentrate on creating sophisticated simulators. They help qualified pilots sharpen their combat operations abilities. Artificial intelligence is used in these simulators to produce warfare simulations. The industry is growing as a result of the demand for efficient and effective pilot training.
The rotary wing segment is expected to have the highest CAGR during the forecast period
The rotary wing segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its flexibility. Aerodynamics, navigation, and instrument flying are all included in the training for rotary wing pilots. It also covers maintaining the aircraft and emergency procedures. The rotary wing pilot can hover, go straight up or down, turn on a dime, carry a sling load, land and takeoff anywhere which are driving the segment's growth.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to the presence of major key players. This region has numerous training centers for pilots with advanced simulator systems. The presence of several airports and well-established training centers are projected to boost industry expansion.
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to its numerous training facilities. Airlines have opened new routes as a result of the rising demand for air travel and aerial connectivity in this region. The lack of pilots is a result of this. Regional airlines and training providers are building new training facilities, which are fuelling market demand throughout the forecast period.
Some of the key players profiled in the Pilot Training Market include L3 Harris Technologies Inc, Pan AM Flight Academy, CAE Inc, Airbus Flight Academy, Thrust Flight, Flight Safety International, Lufthansa Aviation Training GmbH, ATP Flight School, BAA Training, Indra Sistemas S.A, Thales SA, SAAB AB, The Boeing Company, Raytheon Technologies, Elite Simulation Solutions, Frasca International Inc, Simcom Aviation Training, Avion Group, FAAC Inc and ECA Group.
In February 2023, Boeing announced the launch of its first global support center (GSC) in India and also plans to invest in a new logistics center to cater to its regional customers. The Gurugram-based GSC will deliver "customized operational efficiency and safety improvement projects" for Boeing's airline customers.
In November 2022, L3Harris Technologies provided the booster, core and upper stage avionics for launch of the Artemis I, enabling the safe launch of the Space Launch System and the United States' first steps toward a return to the moon.
In March 2022, Airbus Flight Academy Europe (AFAE), a 100% subsidiary of Airbus, has inaugurated a new campus, in Angouleme, South-West France. During the ceremony, Airbus confirmed that Volotea, the Barcelona-based airline, is the first to recruit its Airbus pilot cadets.
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