Augmented reality (VR) and virtual reality (VR) are advanced visual technologies which offers immerse visual experience to the user. The technology was initially developed for entertainment application; however, these technologies now is widely utilized in aviation industry. The AR and VR technology is widely used for controlling weapons, UAVs, UGVs, and for training operations. Moreover, the AR and VR technology is used by commercial aviation for on-board entrainment application.
The augmented reality (VR) and virtual reality (VR) in aviation market is experiencing significant growth owing to the growing aviation industry due to rising number of air passenger. However, travel restriction due to the outbreak of COVID-19 can hamper the growth of augmented reality (VR) and virtual reality (VR) in aviation market. Meanwhile, the increase defense budgets of governments across the globe for procurement of advanced weapons, UAVs, and UGVs is expected to flourish the augmented reality (VR) and virtual reality (VR) in aviation market.
The "Augmented Reality (VR) and Virtual Reality (VR) in Aviation Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense with a special focus on the global market trend analysis. The report aims to provide an overview of augmented reality (VR) and virtual reality (VR) in aviation market with detailed market segmentation by technology, component, function, application, end use, and geography. The global augmented reality (VR) and virtual reality (VR) in aviation market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading augmented reality (VR) and virtual reality (VR) in aviation market players and offers key trends and opportunities in the augmented reality (VR) and virtual reality (VR) in aviation market.
The global augmented reality (VR) and virtual reality (VR) in aviation market is segmented on the basis of technology, component, function, application, and end use. Based on technology, the market is segmented into AR and VR. Based on component, the market is segmented into hardware and software. Based on function, the market is segmented into training and operations. On the basis of application, the market is segmented as on-board and off-board. On the basis of end use, the market is segmented as civil and military.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global augmented reality (VR) and virtual reality (VR) in aviation market based on various segments. It also provides market size and forecast estimates from year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The augmented reality (VR) and virtual reality (VR) in aviation market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting augmented reality (VR) and virtual reality (VR) in aviation market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive porters five forces analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the augmented reality (VR) and virtual reality (VR) in aviation market in these regions.
The reports cover key developments in the augmented reality (VR) and virtual reality (VR) in aviation market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from augmented reality (VR) and virtual reality (VR) in aviation market are anticipated to lucrative growth opportunities in the future with the rising demand for augmented reality (VR) and virtual reality (VR) in aviation market. Below mentioned is the list of few companies engaged in the augmented reality (VR) and virtual reality (VR) in aviation market.
IMPACT OF COVID-19 ON AUGMENTED REALITY (VR) AND VIRTUAL REALITY (VR) IN AVIATION MARKET
The outbreak of COVID-19 has significantly impacted various industries including the aerospace and defence industry. Containment measures were imposed by governments across the globe such as travel restriction and factory shutdown followed by limited personnel at workplaces in order to adhere to the norms of social distancing. Thus, the imposition of such measures affected the air travel, production volume of aircraft as well as MRO operations which subsequently impacted the revenue streams of aircraft manufacturers and MRO service providers. Thus, the decline in revenue streams of aircraft manufacturers and MRO service providers affected the adoption of advanced technologies such as AR and VR in aviation industry.
The report also includes the profiles of key augmented reality (VR) and virtual reality (VR) in aviation market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
Bohemia Interactive Simulations
Elbit Systems Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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to segments covered.
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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to country scope.
2. EON Reality
3. Aero Glass
5. Bohemia Interactive Simulations
6. Skylights Aero
8. Elbit Systems Ltd.
10. Atheer, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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