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Augmented Reality and Virtual Reality in Aviation Market Witness Highest Growth AT a CAGR of 60.50% by 2027

Which, in turn, generated growth opportunities for the leading players to bring new features & upgrades in their product offerings to the aviation industry.
Published 11 September 2024

Introduction

The Global Augmented Reality and Virtual Reality in Aviation Market is experiencing a dynamic shift, driven by technological advancements, evolving consumer preferences, and changing economic landscapes. This market has become a focal point for stakeholders, including manufacturers, suppliers, and investors, who are keen on exploring growth opportunities in this evolving industry. As businesses strive to adapt to these changes, understanding the market's key drivers, segmentation, and regional dynamics becomes crucial. This blog provides an in-depth analysis of the Augmented Reality and Virtual Reality in Aviation Market, examining the market overview, dynamics, segment analysis, and regional projections.

Market Overview

The Global Augmented and Virtual Reality in Aviation Market is projected to grow at a CAGR of around 60.50% during the forecast period, i.e., 2022-27. The growth of the market is driven by the surging air traffic worldwide, i.e., propelling airlines to expand their aircraft fleet, coupled with the mounting need to bring operational efficiency, cost-effectiveness, zero or minimal human errors, & enhance the passenger experience across the aviation industry.

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Augmented Reality and Virtual Reality in Aviation Market Dynamics

Several dynamics are shaping the Augmented Reality and Virtual Reality in Aviation Market. On the demand side, the growing consumer focus on quality and sustainability is driving the need for advanced solutions. On the supply side, market players are intensifying competition by launching innovative products and expanding their geographic presence.

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Augmented Reality and Virtual Reality in Aviation Market Segment Analysis

The Augmented Reality and Virtual Reality in Aviation Market is segmented based on:

By Product

  • Head-Mounted Displays
  • Head-Up Displays
  • Handheld Devices
  • Accumulators & Filters
  • Gesture-Tracking Devices

By Application

  • On Board
  • Off-Board

By Technology

  • Augmented Reality
  • Virtual Reality

By Component

  • Hardware
  • Software

By Function

  • Pilots Training
  • Crew & Ground Support Staff Training
  • Engineers Training
  • Airlines Operation
  • Airport Operation
  • Others (Aircraft Operation, Maintenance Repair and Overhaul Operation etc.)

By Vertical

  • Civil
  • Military

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Augmented Reality and Virtual Reality in Aviation Market Regional Projection

The Augmented Reality and Virtual Reality in Aviation Market shows varied growth patterns across different regions:

By Region

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Key Players in the Market

Several key players dominate the Augmented Reality and Virtual Reality in Aviation market, each striving to capture a larger share through product innovation, strategic partnerships, and expansion. Leading players include:

  • Microsoft Corporation
  • Google Inc.
  • Eon Reality
  • Aero Glass
  • Upskill
  • Sita
  • HTC
  • Bohemia Interactive Simulations
  • Oculus VR
  • Skylights Aero
  • Others

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