What will be the revenue pockets for the AR VR technology in aviation in the next five years? - PowerPoint PPT Presentation

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What will be the revenue pockets for the AR VR technology in aviation in the next five years?

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Augmented and Virtual Reality (AR VR) Market in Aviation by Technology (AR, VR), Function (Training, Operations), Component (Hardware, Software), Application (On-Board, Off-Board), Product, Vertical, and Region - Global Forecast to 2025 – PowerPoint PPT presentation

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Title: What will be the revenue pockets for the AR VR technology in aviation in the next five years?


1
The Augmented and Virtual Reality Market in
Aviation is projected to grow from USD 78 million
in 2019 to USD 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 in aviation. Improved
passenger experience and reduced chances of
human error also contribute to the markets
growth.
By vertical, the civil is
aviation segment
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. Download
PDF Brochure _at_ https//www.marketsandmarkets.com/p
dfdownloadNew.asp?id230427667 North America is
projected to lead the augmented and virtual
reality market in aviation 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
2
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 Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id230427667 About MarketsandMarkets Mar
ketsandMarkets provides quantified B2B research
on 30,000 high growth niche opportunities/threats
which will impact 70 to 80 of worldwide
companies revenues. Currently servicing 7500
customers worldwide including 80 of global
Fortune 1000 companies as clients. Almost 75,000
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approach MarketsandMarkets for their painpoints
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