Asia-Pacific Drone Simulator Market Developments and Forecast by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028Asia-Pacific Drone Simulator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software), Simulator Type (Fixed and Portable), Drone Type (Fixed Wing and Rotary Wing), and Technology (Augmented Reality and Virtual Reality)
- Report Date : Oct 2021
- Report Code : TIPRE00025174
- Category : Aerospace and Defense
- Status : Published
- Available Report Formats :
- No. of Pages : 116
The drone simulator market in APAC is expected to reach US$ 346.18 million by 2028 from US$ 123.93 million in 2021; it is estimated to grow at a CAGR of 15.8% from 2021 to 2028.
Australia, China, India, Japan, and South Korea are major economies in APAC. Boost in defense spending is the major factor driving the growth of the APAC drone simulator market. Despite severe economic contractions caused by the COVID-19 pandemic and the series of lockdowns across many countries, expenditure on military and defense climbed dramatically from an average of 1.85% in 2019 to 2.08% in 2020 as military budgets were maintained. The growth of defense spending has accelerated since 2018, but it is anticipated to decline in 2021 as the APAC expenditure growth is slow. China have raised their defense budgets, accounting for almost two-thirds of the entire increase in spending in 2020. Furthermore, organizations are creating networks to encourage the use of drones, resulting in the growth of the drone simulator industry. The Thales Group and the State of North Dakota, for example, have agreed to build a statewide network of unmanned aircraft systems to carry out tasks outside visual line of sight (BVLOS). Thales will work with a group of companies based in North Dakota to ease system integration and offer technical support. As a result of increased military spending, the use of drones will rise, creating a profitable potential for drone simulator suppliers.
The COVID-19 pandemic has severely impacted APAC due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. India is the worst-hit country by the pandemic in this region. Many global brands and technological companies are headquartered in the region. The limitations imposed by governments to control the spread of COVID-19, the impact of the disease on populations of different countries in the region, and current inability to utilize production capabilities are the key factors impacting military spending of Asian countries. Defense budgets have been drastically cut, resulting in a decrease in the need for drone simulator and other systems. Therefore, the COVID-19 pandemic is likely to continue to hinder the drone simulator market growth in APAC in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC drone simulator market. The APAC drone simulator market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
APAC Drone Simulator Market Segmentation
APAC Drone Simulator Market – By Component
- Hardware
- Software
APAC Drone Simulator Market – By Simulator Type
- Fixed
- Portable
APAC Drone Simulator Market – By Drone Type
- Fixed Wing
- Rotary Wing
APAC Drone Simulator Market – By Technology
- Augmented Reality
- Virtual Reality
APAC Drone Simulator Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Drone Simulator Market - Companies Mentioned
- CAE Inc.
- HAVELSAN A.S.
- Israel Aerospace Industries Ltd.
- L3Harris Technologies, Inc.
- Leonardo S.p.A.
- SINGAPORE TECHNOLOGIES ELECTRONICS LIMITED
Asia-Pacific Drone Simulator Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 123.93 Million |
| Market Size by 2028 | US$ 346.18 Million |
| Global CAGR (2021 - 2028) | 15.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
Market Research & Consulting
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- CAE Inc.
- HAVELSAN A.S.
- Israel Aerospace Industries Ltd.
- L3Harris Technologies, Inc.
- Leonardo S.p.A.
- SINGAPORE TECHNOLOGIES ELECTRONICS LIMITED
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