Pilot Training Market to Exhibit 13.8% CAGR from 2023 to 2030; Bamboo Airways and BAA Training Vietnam Forge Strategic Partnership to Pioneer MPL Program Training

The global pilot training market size was valued at USD 7.07 billion in 2022. The market is projected to grow from USD 8.09 billion in 2023 to USD 20.02 billion by 2030, exhibiting a CAGR of 13.8% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Pilot Training Market Size, Share & COVID-19 Impact Analysis, By Aircraft Type (Airplane (Airbus 320 (Flight Training, Simulator Training, Ground Training, Recurrent Training), Boeing 737 (Flight Training, Simulator Training, Ground Training, Recurrent Training), and Others) and Helicopter), By License Type (Commercial Pilot License, Private Pilot License, Airline Transport Pilot License, and Others), By Training Program (Commercial Pilot Training Program, Cadet Pilot Training Program, and Others), By Training Mode (Flight Training, Simulator Training, Ground Training, and Recurrent Training), and Regional Forecast, 2023-2030”.

The rise of additional airlines in response to increasing air travel demand, growing tourism sectors, and supportive government policies has generated a heightened requirement for pilots to effectively manage flight operations. This trend reflects the need for expanded airline services, leading to the establishment of new carriers to meet the ever-growing demand.

COVID-19 Pandemic Slowed Growth Owing to Reduced Demand for Simulator Services

During the COVID-19 pandemic, the aviation industry witnessed a substantial decline in recruitment and training due to reduced airline operations and pilot layoffs. As a consequence, there was a significant decrease in demand for aircraft simulators and simulator training services. For example, in June 2022, the Regional Airline Association's report highlighted the impact of pandemic, which led to a slowdown and a notable reduction in the issuance of new certificates.

Embry Riddle Aeronautical University Revolutionizes Flight Training with VR

Embry Riddle Aeronautical University (ERAU) implemented Virtual Reality (VR) technology into its flight training program in July 2022, leading to a remarkable 30% reduction in training time. By incorporating VR, students are able to practice flight scenarios with reduced anxiety, increased confidence, and decreased distractions typically encountered during the initial stages of flight training.

Integration of Mixed Reality Technology to Enhance Pilot Situational Awareness

Mixed reality, a blend of Virtual Reality (VR) and Augmented Reality (AR), creates a cohesive environment that seamlessly combines digital and physical elements. This technology significantly enhances a pilot's situational awareness by overlaying vital information onto their field of view. For instance, in November 2022, CAE introduced the CAE 700MXR Flight Simulator, a groundbreaking innovation in flight training. This state-of-the-art simulator is specifically tailored for the emerging eVTOL market and has the potential to revolutionize flight training in complex urban environments.

However, the pilot training market growth is anticipated to face obstacles due to the presence of complex regulatory environments and the high costs associated with training.

Key Players Foster Market Growth through Partnerships and Innovations

The market exhibits a high level of fragmentation, with key players adopting strategies such as mergers and acquisitions, targeting emerging markets, leveraging UAV simulators, driving technological advancements, and fostering product innovations to enhance their market share. A notable example is the recent signing of a 15-year partnership agreement between CAE and the Qantas Group in August 2022, establishing a new flight training center in Sydney, Australia, showcasing the industry's commitment to growth and excellence.

Notable Industry Development

• January 2023 - Bamboo Airways and BAA Training Vietnam formed a three-year collaboration agreement. BAA Training Vietnam will serve as Bamboo Airways' training partner for the first group of cadets enrolled in the innovative MPL (Multi Crew Pilot License) program. The program aims to train around 100 student pilots from 2023 to 2025.

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List of Companies Profiled in the Report:

• CAE Inc. (Canada)
• BAA Training (Lithuania)
• ATP Flight School (U.S.)
• FlightSafety International Inc. (U.S.)
• Lufthansa Aviation Training GmbH (Germany)
• L3Harris Technologies Inc. (U.S.)
• Pan AM Flight Academy (U.S.)
• Airbus Flight Academy (U.S.)
• Thrust Flight (U.S.)
• Indra Sistemas S.A. (Spain)

Further Report Findings:

• Europe emerged as the dominant market in 2022, with a valuation of USD 2.31 billion. The region's growth can be attributed to the expansion of commercial airlines and the introduction of new routes and destinations.
• Asia Pacific secured the second-largest pilot training market share in the base year owing to rising air traffic and the expansion of airline fleets.

Table of Segmentation