Augmented reality (VR) and virtual reality (VR) are advanced visual technologies which offers immerse visual experience to the user. The technology was initially developed for entertainment application; however, these technologies now is widely utilized in aviation industry. The AR and VR technology is widely used for controlling weapons, UAVs, UGVs, and for training operations. Moreover, the AR and VR technology is used by commercial aviation for on-board entrainment application.
MARKET DYNAMICS
The augmented reality (VR) and virtual reality (VR) in aviation market is experiencing significant growth owing to the growing aviation industry due to rising number of air passenger. However, travel restriction due to the outbreak of COVID-19 can hamper the growth of augmented reality (VR) and virtual reality (VR) in aviation market. Meanwhile, the increase defense budgets of governments across the globe for procurement of advanced weapons, UAVs, and UGVs is expected to flourish the augmented reality (VR) and virtual reality (VR) in aviation market.
MARKET SCOPE
The "Augmented Reality (VR) and Virtual Reality (VR) in Aviation Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense with a special focus on the global market trend analysis. The report aims to provide an overview of augmented reality (VR) and virtual reality (VR) in aviation market with detailed market segmentation by technology, component, function, application, end use, and geography. The global augmented reality (VR) and virtual reality (VR) in aviation market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading augmented reality (VR) and virtual reality (VR) in aviation market players and offers key trends and opportunities in the augmented reality (VR) and virtual reality (VR) in aviation market.
MARKET SEGMENTATION
The global augmented reality (VR) and virtual reality (VR) in aviation market is segmented on the basis of technology, component, function, application, and end use. Based on technology, the market is segmented into AR and VR. Based on component, the market is segmented into hardware and software. Based on function, the market is segmented into training and operations. On the basis of application, the market is segmented as on-board and off-board. On the basis of end use, the market is segmented as civil and military.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global augmented reality (VR) and virtual reality (VR) in aviation market based on various segments. It also provides market size and forecast estimates from year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The augmented reality (VR) and virtual reality (VR) in aviation market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting augmented reality (VR) and virtual reality (VR) in aviation market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive porters five forces analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the augmented reality (VR) and virtual reality (VR) in aviation market in these regions.
MARKET PLAYERS
The reports cover key developments in the augmented reality (VR) and virtual reality (VR) in aviation market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from augmented reality (VR) and virtual reality (VR) in aviation market are anticipated to lucrative growth opportunities in the future with the rising demand for augmented reality (VR) and virtual reality (VR) in aviation market. Below mentioned is the list of few companies engaged in the augmented reality (VR) and virtual reality (VR) in aviation market.
IMPACT OF COVID-19 ON AUGMENTED REALITY (VR) AND VIRTUAL REALITY (VR) IN AVIATION MARKET
The outbreak of COVID-19 has significantly impacted various industries including the aerospace and defence industry. Containment measures were imposed by governments across the globe such as travel restriction and factory shutdown followed by limited personnel at workplaces in order to adhere to the norms of social distancing. Thus, the imposition of such measures affected the air travel, production volume of aircraft as well as MRO operations which subsequently impacted the revenue streams of aircraft manufacturers and MRO service providers. Thus, the decline in revenue streams of aircraft manufacturers and MRO service providers affected the adoption of advanced technologies such as AR and VR in aviation industry.
The report also includes the profiles of key augmented reality (VR) and virtual reality (VR) in aviation market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
Microsoft
EON Reality
Aero Glass
Upskill
Bohemia Interactive Simulations
Skylights Aero
PTC
Elbit Systems Ltd.
JASOREN
Atheer, Inc.
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