Augmented and Virtual Reality in Aviation Market Size, Growth, Trends, Forecast (2024-2032)

According to the Universal Data Solutions analysis, growing investments in the digital cockpit systems for improving pilot training and predictive maintenance applications, the sector will surge in demand for the Global Augmented and Virtual Reality in Aviation market, which will drive the global scenario of the “Augmented and Virtual Reality in Aviation Market” report; the global market was valued at USD 527.55 million in 2023, growing at a CAGR of 49.04 % during the forecast period from 2024 - 2032 to reach USD million by 2032.

Introduction:

The aviation industry in the North American region has been one of the major markets adopting Augmented and Virtual Reality in Aviation due to the higher availability of companies offering aircraft manufacturing and services associated with them. Additionally, the region is also a leader in the aviation industry, which has led to higher research & development needs to develop new-generation aircraft, leading to the demand for robust augmented and virtual reality services in the region.

Augmented and Virtual Reality in Aviation Market Overview in North America:

North America Augmented and Virtual Reality in the Aviation market has held the major market share across the globe. Some of the key factors that have contributed to the growth are the presence of the largest commercial and military aircraft fleet requiring maintenance, repair, and overhaul activities on a regular basis. The North American aviation industry is further anticipated to rise due to massive orders being placed by the leading aviation companies in recent years. For instance, in 2024, American Airlines ordered 260 new aircraft from Airbus, Boeing and Embraer. With the massive purchase, the airline is looking forward to expanding its international operations for trans-Atlantic operations.

Boeing is one of the key manufacturers that has a vast list of unfilled orders, YTD deliveries, etc. For instance, according to Boeing, total unfilled orders for 737, 767, 777, and 787 models were 4763, 96, 539, and 790 units till 5/31/2024.

Considering the vast unfilled orders that are to be delivered in the coming years, the demand for AI and VR technology services for maintenance and pilot training is anticipated to rise in the forecasted years, i.e., 2024-2032.

Additionally, there is a rising need among the Air Force to opt for AR training modules to ease the process of pilot training with the inclusion of realistic training scenarios in learning modules. In line with this, various significant investments have been made. For instance, in 2023, HTX Labs announced receiving a USD 90 million contract from the US Department of Defense for Virtual Reality content for US Air Force training purposes.

Additionally, the region is also a pioneer in terms of aircraft research and development, which has noticeably assisted in the development and testing of new-age aircraft and paved the way for Augmented and Virtual Reality in the Aviation market.

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Growing Demand and Industry Trends:

Transformation of In-Flight Experience is one of the technological advancements that helps in enhancing aviation safety with the usage of vast amounts of data to optimize flight paths, fuel consumption, taking account of weather conditions, etc. Additionally, AI can also be used to provide personalized in-flight experiences and recommend entertainment options. Smart-cabin technologies use artificial intelligence to track customer preference trends in video and audio content used on the plane to build favorite movies and suggestions based on their tastes.

Advanced in-flight experience methods enable the customer experience to improve further and assist market growth in the forecasted years, i.e., 2024-2032.

Future Prospects and Opportunities:

One of the key concerns of the aviation industry across the globe is timely maintenance and reducing the risk to a noticeable degree. With the advent of flight safety analytics and the integration of artificial intelligence and machine learning techniques, the ability to anticipate and reduce possible risks has drastically been reduced. With the help of real-time data analysis, AI and machine learning can reduce the risk by providing predictive insights, which has earmarked its presence through its adoption by leading aircraft manufacturers. Airbus is one of the leading companies among these that have adopted similar technologies. It uses Skywise, an open data platform that collects vast amounts of data from all Airbus aircraft, which helps to improve operational excellence by achieving greater fleet operational performance and reliability.

With the growing need for predictive systems, AI diagnostics, and maintenance in the aviation industry, the demand for augmented and virtual reality in aviation in this particular category is anticipated to find rapid growth, subsequently improving its market in the coming years.

Conclusion:

In conclusion, North America's augmented and virtual reality in the aviation market reflects a dynamic and evolving landscape supported by government investment, industry collaboration, and technological innovation. As the region continues strengthening its aviation industry and its effectiveness through investment increases, regulatory frameworks, and strategic partnerships, it is well-positioned to navigate challenges and capitalize on emerging opportunities in the aircraft manufacturing industry.

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