Global Augmented Reality and Virtual Reality (AR/VR) in Aviation Market.
The Global Augmented Reality and Virtual Reality (AR/VR) in Aviation Market is projected to be valued at USD 1,364.2 Million by 2025, registering a CAGR of over 60% from 2019 to 2025.
Market growth can be attributed to the demand for enhanced passenger experience and the need for effective training solutions both for flight and ground crew. Furthermore, aviation companies are focused on improving efficiency and reducing costs and are, therefore, adopting advanced technologies such as AR/VR.
Technological advancements such as 3D aircraft inspection and maintenance and mixed reality (MR) MRO
Growth Opportunities in the Market
Dominance of augmented reality in the market: The augmented reality segment accounted for the larger market share in 2018 and is expected to remain dominant during the forecast period. The segment accounted for over 55% of the global market share. The use of AR technology in head-mounted displays and head-up displays is expected to drive the growth of the segment during the forecast period.
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Head-up displays segment expected to lead the market: The head-up display segment was the largest in 2018 valued at approximately USD 572.9 million. The integration of head-up displays in aircraft would enable pilots to access flight information such as navigation, energy management, and other critical flight data, thereby driving market growth.
Hardware segment to dominate the market: The hardware segment led the market in 2018 with a value of approximately USD 900.3 million. Technological advancements in electronic components such as microchips and processors enable the development of electronics that are compact and cost-effective.
Onboard AR/VR technology expected to drive the application segment: The demand for an enhanced passenger experience has led airlines to offer VR-based in-flight entertainment. For instance, in 2018, Alaska Airlines was the first carrier in the US to offer VR entertainment.
Civil aviation to witness widespread adoption of AR/VR technology: Large-scale investments by governments and aviation authorities in the development of aviation infrastructure and expansion of aircraft fleets are expected to drive the adoption of AR/VR in civil aviation. Furthermore, an increase in air passenger traffic across regions is expected to positively impact market growth.
Microsoft Corporation (US)
Google Inc. (US)
EON Reality (US)
Aero Glass (US)
Bohemia Interactive Simulations (US)
Oculus VR (US)
Skylights Aero (US)
Magic Leap Inc. (US)
PTC Inc. (US)
Future Visual (UK)
Atheer Inc. (US)
Elbit Systems Ltd (Israel)
HoneyWell International Inc. (US)
IBM Corporation (US)
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