Growing Demand for AEROSPACE & DEFENSE Across the Globe is Expected to Boost the Demand for Aviation Maintenance Training Market During the Forecast Period 2027 : MRFR : :
The global aviation maintenance training market is projected to register a CAGR of 5.80% between 2021 and 2027. Aircraft maintenance is an essential service for airlines as it ensures efficient and timely operation of airlines. It is necessary that the maintenance technicians and engineers are appropriately trained so as to provide quality aircraft maintenance services. With the growing air travel industry, the aviation industry is booming. This boom is also propelling the demand for aviation maintenance technicians and engineers worldwide.
The rising maintenance, repair, and overhaul facilities across the globe and the growing business travel industryare primarily driving the market's growth. Business travel plays a major role in various business aspects, including international human resource management, transient business-related migration, and sociology of work and industry. Business industries are evolving every day and being transformed by globalizing firms. These globalizing firms are characterized by complex sub-contracting/supplier networks, global production divisions, and geographical dispersion, thereby providing the momentum and need for physical travel. Business travels involve various purposes, such as participation in firm meetings, training sessions & trade conferences, business pitches, visiting clients to close deals, visiting suppliers and sub-contractors for monitoring quality control, and new business negotiations. Business travel has become indispensable to the modern network-based business industry.
The growth of the business travel industry is relatively more visible in emerging economies of the world, such as India, China, Mexico, and Brazil. Much of this growth can be attributed to the increasing middle-class population and their rising disposable income. The increasing spending power of the middle class in these economies generates demand for products, thereby creating opportunities for new businesses to grow and existing businesses to prosper. Thus, the aviation maintenance training market is likely to register significant growth during the forecast period.
By Training Type
The airline crew trainingsegment is expected to grow at a significant rate: The airline crew training segment to register a considerable growth rate during the forecast timeline.The increasingawareness of safety-related issues and procedures, coupled with enhancement of coordination and communication among the crew members, are the primary factors driving the growth of the airline crew training segment.
The pilot training segment generated the largest revenues in 2020: The pilot training segment dominated the aviation maintenance training market in 2020 and is likely to continue doing so during the review period. Much of this dominance can be attributed to the growing need for trained individuals with honed fundamental airmanship skills.Pilot training involves piloting an aircraft as per the curriculum approved by regulatory bodies such as the federal aviation administration (FAA) and European Union Aviation Safety Agency (EASA) and with a certified instructor.
The aircraft maintenance training segment accounted for a significant market share in 2020: The aircraft maintenance training segment held a considerable market share in 2020. The key factor driving the growth of this segment is the growing need for trained aircraft maintenance technicians.The training involves instructing individuals about aircraft maintenance procedures with hands-on training on in-service aircrafts using training equipment.
The air traffic control training segment is likely to generate significant revenues: The air traffic control segment is forecasted to generate substantial revenues and contribute to the growth of the aviation maintenance training market in the coming years during the forecast timeline.Most of this can be attributed to the growing need for enhanced safety levels and skills to make numerous real-time decisions while stationed in air traffic control centers/control towers on the ground.
The aviation sales & marketing training segment is predicted to grow at the highest rate: The aviation sales & marketing training segment is likely to grow at the highest rate compared to other segments in the coming years during the study period. This is becausesales & marketing is one of the primary business components of the highly competitive aviation industry.The training aims to help the individuals build a specialized skill set pertaining to aviation business knowledge, including sales management, consumer behavior, marketing channels, and communications.
The simulated training segment accounted for the larger share in 2020: The simulated training segment dominated the global aviation maintenance training market in 2020, accounting for a majority share in the technology segment. The simulated training segment is also forecasted to dominate the market during the forecast period, owing to the growing usage of stimulators for artificially stimulating the conditions for the individuals being trained to learn to adapt to perform under unfavorable conditions.Additionally, the simulated training methods employ two kinds of technologies — virtual reality and mixed reality — to enhance the training.
The live trainingsegment is likely to generate significant revenues during the forecast period: The live training segment is estimated to generate substantial market revenues in the coming years, owing to the introduction of big data and IoTin training. Live training employs a network of smart sensors that gather data and functions using cloud computing and is enhanced using data-driven programs based upon big data.
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Key Players Operating in the Global Aviation Maintenance Training Market:
- CAE Inc. (Canada)
- AAR Corporation (US)
- SR Technics (Switzerland)
- Honeywell International Inc. (US)
- Lufthansa Technik AG (Germany)
- FlightSafety International Inc. (US)
- FlightPath International (Canada)
- FL Technics (Lithuania)
- Global Jet Services, Incorporated (US)
- Insight Aviation (Netherlands)
- Pan Am International Flight Academy (US)