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AR VR in Aviation Market Overview
The global augmented reality and virtual reality (AR VR) in aviation market is expected to attain notable growth during the forecast period (2020–2030), owing to growing demand for high efficiency coupled with cost saving in aviation, improved experiences of passengers, and reduced human error possibilities. Furthermore, incorporation of artificial intelligence with AR VR creates immense opportunities for the market players.
The AR VR in aviation market on the basis of component is classified into software and hardware. Between the two, the hardware category held the larger share in the market in 2019, and is projected to remain dominant during the forecast period (2020–2030) as well. This can be due to the increasing use of sensors, displays, and other components across several applications, such as head-mounted displays and head-up displays, and design simulation of components in aircraft maintenance, repair, and overhaul (MRO).
The AR VR in aviation market in terms of application is categorized into training and operation. Between the two, the training category dominated the market in 2019. The growing usage of AR VR for training the employees propelled the category growth in the market. Several airlines worldwide are employing these technologies to efficiently train their pilots. However, during the forecast period, the operation category is projected to attain faster growth in the market, owing to the requirement for upgradation and maintenance of on-board aircraft components, such as wings, rudders, and engines by using AR VR–based design technology.
The AR VR in aviation market based on the vertical is bifurcated into civil and military. Between the two, the larger share in 2019 was held by the civil category. This is majorly due to the growing demand for aircrafts by commercial airlines to support the increased passenger volume and up surging adoption of AR VR technology in aircraft and airports for training and maintenance.
Geographically, North America is projected to hold the largest revenue share in the AR VR in aviation market by 2030. The U.S. has presence of significant market players that has resulted in partnerships and collaborations between AR VR players and aviation companies in the region. Furthermore, the region has largest number of airports and aircraft fleet, globally. By the end of 2018, the U.S. consisted of 7,356 commercial aircrafts, compared to 7,314 in 2017 (+0.7% or +42 units). Thus, the growing number of aircraft is driving the demand for integration of AR VR technology, further boosting the growth of the region in the market.
AR VR in Aviation Market Dynamics
Up surged demand for high operational efficiency coupled with increased cost saving in aviation is one of the major factors boosting the growth of the AR VR in aviation market. The use of AR VR for training in the aviation industry offers enhanced productivity and improved effectiveness of the learning process while vividly reducing the cost when compared with traditional means. Both civil and military aviation highly depend on training practices. These training practices are not limited to only pilots but also are used for the cabin crew. These enable crew members to work accordingly and smartly in critical situations in different aircraft. Besides, licenses for cabin crew and all pilots are required to be regularly renewed, which results in more training requirements.
Thus, the aviation industry uses several flight simulators in order to train its personnel. Such simulators are parts of real aircraft modified for educational purposes. However, these traditional simulator trainings have some limitations, such as the number of probable scenarios is restricted and only one crew can practice on it at a time, which becomes quite expensive and time-consuming. With the advent of AR VR setup in flight training, these practices are proved to be more cost-effective than traditional aircraft simulators and also can be used at the same time by multiple trainees. Such factors are significantly boosting the AR VR in aviation market growth, globally.
One of the major factors restraining the growth of the AR VR in aviation market is cybersecurity issues. While AR VR offers numerous advantages to the aviation industry, it also deals with several complexities. The adoption of AR VR technology brings a growing landscape of new cybersecurity threats, as companies are facing big data breaches. Thus, such threats are hampering the growth of the market at a certain level.
AR VR in Aviation Market Competitive Landscape
Some of the major players operating in the AR VR in aviation market are EON Reality Inc., Google LLC, Upskill Inc., SITA, Microsoft Corporation, Bohemia Interactive Simulations k.s., HTC Corporation, SkyLights Inc., Sony Corporation, Aero Glass, Jasoren LLC, Facebook Technologies LLC (Oculus VR), and Magic Leap Inc.
The report covers a country-wise analysis of the global AR VR in aviation market. The major countries covered in the report are the U.S., Canada, the U.K., Germany, France, Italy, Spain, China, Japan, South Korea, Australia, India, Brazil, Mexico, Saudi Arabia, the U.A.E., and South Africa.
AR and VR in Aviation Market Size Breakdown by Segment
The AR and VR in aviation market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Component
Based on Product
Based on Application
Based on Vertical