AR VR Market in Aviation Industry Analysis and Global Forecast to 2025 - PowerPoint PPT Presentation

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AR VR Market in Aviation Industry Analysis and Global Forecast to 2025

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The augmented and virtual reality market in aviation is projected to grow from $78 million in 2019 to $1,372 million by 2025, at a CAGR of 61.2% during the forecast period. – PowerPoint PPT presentation

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Title: AR VR Market in Aviation Industry Analysis and Global Forecast to 2025


1
According to the new market research report
"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
- Global to 2025", is
Region Forecast expected
to reach
1,372 million by 2025 from 78 million in
2019, registering a CAGR of 61.2 from 2019 to
2025.Improved passenger experience is a
significant growth driver for the augmented and
virtual reality market in aviation. Reduced
chances of human error also drive this
market. Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id230427667 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
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 lead the augmented and virtual reality market
in aviation during the forecast period.
2
North America is estimated to account for the
largest share of the augmented and virtual
reality market in aviation in 2019. The US was
the highest military spender in 2018, with a
large chunk of the investment focused on the
procurement of various military aircraft. These
military aircraft use headsets to enable pilots
to get mission- related flight information
directly to their headset. Along with this, the
demand for commercial aircraft is continually
increasing, due to which aircraft manufacturers
are expanding their product line, thus creating a
significant demand for efficiency in their
operations. Therefore, this, in turn, is
expected to drive the North American market for
AR VR in aviation. Key Market Players The US also
has a presence of major AR VR players - Microsoft
Corporation (US), Google Inc. (US), Eon Reality
(US), Aero Glass (US), Upskill (US), Oculus VR
(US), Jasoren (US), IMB (US), among others. Ask
for Sample Report _at_ https//www.marketsandmarkets.
com/requestsampleNew.asp?id230427667 About
MarketsandMarkets MarketsandMarkets provides
quantified B2B research on 30,000 high growth
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to 80 of worldwide companies revenues.
Currently servicing 7500 customers worldwide
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MarketsandMarkets for their painpoints around
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competitive intelligence and market research
platform, "Knowledgestore" connects over 200,000
markets and entire value chains for deeper
understanding of the unmet insights along with
market sizing and forecasts of niche
markets. Contact Mr. Aashish Mehra
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