Augmented and Virtual Reality (AR VR) Market in Aviation — Industry Analysis and Future Growth 2020 - 2025

1
The Augmented and Virtual Reality (AR VR) Market
in Aviation is projected to grow from 78
million in 2020 to 1,372 million by 2025, at
a CAGR of 61.2 during the forecast period. The
increased efficiency and cost savings are major
factors driving the growth of the augmented and
virtual reality
industry Improved experience
aviation. passenger and reduced
in
chances of human error also contribute to the
markets growth. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id230427667 By vertical, the civil aviation
segment is expected to be a larger contributor to
the augmented and virtual reality market in
aviation during the forecast period. Civil
aviation has been witnessing strong growth over
the past few years. One of the major factors
driving this growth is the increased demand for
aircraft. The growing aircraft fleet must go
through regular and mandatory maintenance
services. This demand is expected to drive the
market for AR VR technology to be integrated for
MRO and maintenance of civil aviation aircraft.
Along with manufacturing and MRO, the pilots,
crew, ground staff, and mechanics handling civil
aviation operations will need training based on
AR VR technology, which is also expected to be
one of the reasons for civil aviation to lead
the market during the forecast period. By
function, the operation segment is projected to
grow at a higher CAGR during the forecast
period. Increasing demand for air travel around
the world has given rise to aircraft demand and
greenfield and brownfield airport projects. To
cater to this growing demand, manufacturers,
airports, airline, and maintenance, providers
must adopt efficiency measures that improve
their operational efficiency as well as save
costs. Thus, the operation segment for augmented
and virtual reality market in aviation is
expected to grow at the fastest rate during the
forecast period. By component, the software
segment is projected to grow at the highest
growth rate during the forecast period. AR VR
hardware consists of sensors, displays, cameras,
processors controllers, cases, among others.
These are a one time buy from the end-users.
Whereas software used to support the hardware is
continuously updated. The software will have many
2
more evolutions as the time progresses, and more
features are needed to be integrated within the
hardware. Thus, the software segment for
augmented and virtual reality market in aviation
is expected to grow at the highest rate during
the forecast period. North America is expected
to be the largest market for AR VR market in
aviation during the forecast period. The
presence of major AR VR players in the US has
resulted in major collaborations and partnerships
between aviation companies and AR VR players in
North America. North America has the highest
aircraft fleet and airports globally, thus
driving the demand for integration of AR VR
technology. Along with this presence of various
airlines, major aircraft OEMs Boeing, Lockheed
Martin, and Pratt Whitney, among others is
expected to drive the market in this region. Key
Market Players Some of the major players in the
augmented and virtual reality market in aviation
include Microsoft Corporation (US), Google Inc.
(US), Eon Reality (US), Aero Glass (US), Upskill
(US), Oculus VR (US), Jasoren (US), IMB (US),
Fountx (Australia), and Sony (Japan), among
others. These players provide AR VR hardware and
software to various aviation companies. Ask for
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