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Operator Training Simulator Market Size valued at over USD 9 billion in 2020 and will grow at a CAGR of 10% CAGR from 2021 to 2027. The rising demand for highly skilled process operators will boost demand in the market.
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Companies in several sectors are training their workforce to avoid accidents & improve the safety of their teams. Employees are trained under realistic environments and control systems with the help of simulators to prepare for different scenarios that can occur in a facility. It also helps in educating personnel with requisite skills & knowledge before utilizing a modern product range. Operator training simulator offers an economical method to train an existing workforce, thus reducing the cost of hiring new employees for the same application. It enables businesses to offer their staff with interactive training experience and customized learning modules.
The coronavirus pandemic has supported the growth of operator training simulators owing to the rising adoption of high-end technology by companies. The outbreak has hindered operational activities of several players in the industry, encouraging them to deploy smart technologies that support industries in increasing the efficiency of their facilities. In addition, with the introduction of new & advanced machinery for different applications, participants are utilizing operating training simulators to instruct their employees with necessary skills, reducing the chances of damaging the equipment while performing regular tasks. Furthermore, the integration of cloud technology, virtual reality, AI, and augmented reality in simulator software has further fostered the market requirements.
Report Attribute | Details |
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Base Year: | 2020 |
Operator Training Simulator Market Size in 2020: | 9 Billion (USD) |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 10% |
2027 Value Projection: | 20 Billion (USD) |
Historical Data for: | 2017 to 2020 |
No. of Pages: | 220 |
Tables, Charts & Figures: | 356 |
Segments covered: | Component, Simulation environment, End-Use, Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The U.S. operator training simulator market is expected to showcase 10% growth rate through 2027 led by the increasing integration of evolving technologies such as AI, virtual reality, and IoT. This factor has enhanced the overall training experience of the employees with interactive sessions, encompassing realistic industry scenarios. It allows the customization of training modules as per company requirements for a better understanding of the different safety procedures & features.
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The Germany operator training simulator market is estimated to attain a CAGR of 10% till 2027 impelled by the cost benefits offered by the technology. The field operator training module improves communication between field and control room operators, avoiding the cost of installing a virtual set-up. It can be integrated with the existing system of the facility and employees can receive training with the help of smart devices without disturbing the actual process. Software providers are utilizing P&ID Tag names, DCS screens, and scanning devices to manipulate scenarios as per the training modules. Companies are also collaborating to improve the simulation process, in terms of cost benefits & technology.
The aerospace & defense operator training simulator market is poised to register more than 5% gains by 2027. With the introduction of new technologies in the market for different aviation applications, several businesses are utilizing the software system to educate their employees about the additional features. For instance, in November 2021, the UK Ministry of Defense ("UK MOD") awarded a USD 88 million contract to Elbit Systems Ltd. for setting up a training program for Texan T-6C aircraft. The UK military flying training system program will support procurement, RAF pilot training, maintenance services, and operations. The growing acceptance of customized training solutions for specific applications will stimulate the industry growth.
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Asia Pacific operator training simulator market is projected to expand at over 15% during 2021 to 2027 on account of the rising adoption of digital solutions in government facilities. Governing bodies are deploying advanced training simulations to train their employees more effectively & economically without hindering the actual process. For instance, in September 2021, the Airports Authority of India (AAI) selected ALSIM for building and designing simulators for different applications. It includes Multi Crew Coordination (MCC), Flight Simulator Training Device (FSTD), and Flight Navigation and Procedure Trainer (FNPT). Moreover, AAI has selected three DIS to ensure local maintenance services and warranty support in India. This factor will encourage other organizations to install the operating training simulation technology, thus supporting the industry expansion.
Key leaders operating in the operator training simulator market include:
Major players in the market held for 30% of the global revenue share. Market participants are focusing on offering comprehensive training modules to different businesses to enhance their performance.
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Market, by Component
Market, by Simulation Environment
Market, by End-use