Global Aviation Augmented and Virtual Reality Market Report and Forecast 2024-2032

Global Aviation Augmented and Virtual Reality Market Outlook

The global aviation augmented and virtual reality market size attained a value of USD 2.68 billion in 2023. The market is further expected to grow at a CAGR of 56.50% between 2024 and 2032, reaching a value of USD 150.57 billion by 2032.

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Key Trends in the Market

Aviation augmented and virtual reality refers to the use of augmented reality (AR) and virtual reality (VR) digital tools in aviation applications. AR and VR provide realistic aviation environments by stimulating different scenarios allowing the crew to learn, test, and practice their flying skills. This method also harmonises the budding pilots with multiple controls of an aircraft to improve their handling, especially during emergency situations.

• The increasing adoption of aviation augmented and virtual reality in the aviation sector, to prepare for sudden danger and challenging situations which may emerge while flying, is driving the aviation augmented and virtual reality market growth.

• Increasing application of aviation augmented and virtual reality in the military sector, to reduce costs, provide visualisation of navigation systems, and to improve combat aircraft handling skills, are the crucial aviation augmented and virtual reality market trends.

• Technological advancements and innovations in aviation augmented and virtual reality software solutions, facilitating advanced functions such as remote maintenance, real-time monitoring, and efficient aircraft inspection, are anticipated to improve the market for aviation augmented and virtual reality in the coming years.

Global Aviation Augmented and Virtual Reality Market Analysis

Based on type, the market is segmented into augmented reality and virtual reality. Augmented reality is further divided based on technology into marker based and non-marker based, while the virtual reality is further bifurcated based on technology into immersive and non-immersive. On the basis of component, the market is classified into hardware, and software and solutions. By function, the market is segmented into training and operation. Based on application, the market is bifurcated into on-board and off-board. By end use, the market is categorised into civil and military. The regional markets for aviation augmented and virtual reality are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global aviation augmented and virtual reality market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Microsoft Corporation

• Google LLC

• Jasoren

• Honeywell International Inc.

• Elbit Systems Ltd.

• Magic Leap, Inc.

• Bohemia Interactive Simulations

• SITA Group

• EON Reality, Inc.

• TAE Aerospace

• Others

Global Aviation Augmented and Virtual Reality Share by Type

The virtual reality segment, based on type, accounts for a healthy share of the aviation augmented and virtual reality market. Virtual reality provides a multiparticipant atmosphere which facilitates interactions between cabin crew and pilot which enhances coordination, leading to an enhanced flight experience. In addition, this technology provides real-life environment at cost-effective rate. It also enhances decision-making by stimulating dangerous situations without real-life risks. Meanwhile, the augmented reality segment is anticipated to witness a steady growth in the forecast period, owing to the real-time remote guidance offered by experts which can reduce the chances of error during flights.

Global Aviation Augmented and Virtual Reality Share by End Use

Based on end use, the civil segment accounts for a significant share in the aviation augmented and virtual reality market. Increasing demand for commercial aircrafts and heavy dependence on aviation augmented and virtual reality to facilitate practical training are the major factors contributing towards the growth of this segment. Increasing number of domestic and international travellers are pushing the safety and quality standards of civil aviation industry, which is further propelling the demand for aviation augmented and virtual reality. Moreover, a digital wave of transformation across the civil aviation sector has brought a change in skill development and training procedures.

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Competitive Landscape

Microsoft Corporation is one of the largest software makers across the globe, offering personal computer software, systems, and applications, cloud-computing services, video games, and consulting services. The company was founded in 1975 and is headquartered Washington, United States.

Google LLC is a subsidiary of Alphabet Inc., which is a leading provider of search and advertising services on the internet. Founded in 1998 and headquartered in California, United States, this company augments the growth of various businesses belonging to diverse fields.

EON Reality, Inc. is a leading software company which develops and markets virtual reality and augmented reality software, catering to the educational demands of universities other academic institutions. The company was established in 1999 and is currently headquartered in California, United States.

Other market players include Jasoren, Honeywell International Inc., Elbit Systems Ltd., Magic Leap, Inc., Bohemia Interactive Simulations, SITA Group, and TAE Aerospace, among others.

Key Highlights of the Report