Pilot Training Market Worth USD 20.21 billion by 2029 | Exhibiting a CAGR of 31.55%Overview, Size Analysis by Forecast
The pilot training market is a highly competitive and growing industry that offers a wide range of opportunities for aspiring pilots. It encompasses various types of pilot training programs, including private pilot training, commercial pilot training, and military pilot training. The demand for pilots is increasing rapidly due to the expansion of the airline industry and the retirement of experienced pilots. As a result, many pilot training schools are emerging globally to meet the growing demand for pilots. The market is expected to continue its growth trend as the aviation industry expands, making it a promising career choice for those who love flying. However, due to the high costs associated with pilot training, it is essential to conduct proper research and select a reputable training program that provides the best value for money.
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Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players. The global pilot training market size was valued at USD 2.35 billion in 2021 and touched USD 2.96 billion in 2022. The market is expected to reach USD 20.21 billion by 2029, exhibiting a CAGR of 31.55% during 2022-2029. Increasing adoption of virtual reality and the launch of technologically advanced aircrafts are expected to propel market progress. Fortune Business Insights™ presents this information in its report titled “Pilot Training Market, 2022-2029.”
Segments
Flight Training Segment to Dominate Owing to the Demand from Skilled Pilots
By training mode, the market is segmented into flight training and ground training. The flight training segment dominated the global market in 2021 due to the demand for flight training from skilled pilots.
Commercial Pilot License to Grow at a Fast Rate Owing to Increasing Air Travel Demand
As per type of license, the market is classified into student pilot license, private pilot license, commercial pilot license, airline transport pilot license, and others. The commercial pilot segment is expected to grow at a fast rate with the highest CAGR over the forecast period due to rising air travel demand.
Airplane Segment to Lead Owing to Increasing Aircraft Deliveries
Based on aircraft type, the market is categorized into airplane and helicopter. The airplane segment is expected to lead due to rising aircraft deliveries.
Regionally, the market is classified into North America, Europe, Asia Pacific, and the rest of the world.
Drivers and Restraints
Increasing Skilled Pilot Demand to Propel Market Progress
Pilot training includes training parameters consisting of flight and ground schools. It is conducted for 10 to 22 months. Increasing demand for skilled pilot is likely to enhance the adoption of advanced flight training methods. Further, the increasing demand for safe travel globally is expected to enhance the demand for advanced training systems. Moreover, the incorporation of virtual reality and other advanced technologies is expected to elevate the demand for training systems. Also, incorporating innovative technologies in aircraft is likely to foster the adoption of pilot training systems. These factors may drive the pilot training market growth.
However, the initial certification costs of pilot training are likely to hinder market progress.
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Regional Insights
Presence of Key Players to Propel Market Progress in North America
North America is projected to dominate the pilot training market share due to the presence of key players. The market in North America stood at USD 0.74 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Furthermore, there is presence of numerous well-established training centers and airports.
In Europe, the presence of several training centers for pilots, such as Airbus Flight Academy, is expected to enhance the adoption of pilot training. Furthermore, advanced simulator systems are expected to foster industry growth.
Competitive Landscape
Major Players Enter into Partnerships to Offer Advanced Training to Pilots
The prominent companies operating in the market enter into partnerships to provide advanced training to pilots and enhance their brand image. For example, CAE partnered with Joby Aviation in June 2022. Both companies undertook this partnership to train pilots using the eVTOL platform. Joby Aviation shall overlook the landing aircraft and all-electric vertical take-off, while CAE focuses on providing and developing training devices. This strategy may enhance their product offerings and boost their brand image. Furthermore, companies deploy innovations, research and development, industrial automation, and expansions to enhance their market position.
Key Industry Development
October 2022: Clay Lacy Aviation and CAE entered the industry’s first job-sharing and cross-training agreement to enhance flight training and address pilot demand.
List of Key Players Profiled in the Report
- CAE Inc.(Canada)
- Lufthansa Aviation Training GmbH. (Germany)
- L3 Harris Technologies Inc.(U.S.)
- Flight Safety International (U.S.)
- Pan AM Flight Academy (U.S.)
- ATP Flight School. (U.S.)
- Thrust Flight. (U.S.)
- Airbus Flight Academy. (France)
- Indra Sistemas S.A (Spain)
- BAA Training (Lithuania)
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