Simulators Market to record USD 36 billion by 2032, Says Global Market Insights inc.
Simulators Industry size is expected to register 7.5% CAGR between 2024 and 2032 propelled by increased demand for training in military, aviation, and navy.
Selbyville, Delaware, Sept. 04, 2024 (GLOBE NEWSWIRE) — Simulators Market is expected to reach USD 36 billion by 2032, as per a
Asia Pacific to emerge as a lucrative market
Asia Pacific simulators market is expected to expand exponentially up to 2032 attributed to expanding aviation, defense, and healthcare sectors, coupled with increasing investments in training and skill development. The rising defense budgets in the region are driving investments in military training simulators to enhance combat readiness and operational efficiency. The healthcare sector with medical simulation is also gaining traction for improving clinical training and patient safety, further driving the regional market growth.
Simulators Market Participants
Some of the prominent simulators industry players include CAE, Inc., Thales Group, Elbit Systems Ltd., Textron Inc., FlightSafety International, Raytheon Technologies Corporation, and L3Harris Technologies. These firms are focusing on partnership ventures and innovations to proliferate their product portfolio and customer base. For instance, in April 2024, Keysight Technologies, Inc. introduced its next-gen circuit simulator, RFPro Circuit to address the intricate multi-physics requirements of RF integrated circuit (RFIC) designers.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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