Augmented and Virtual Reality (AR VR) Market Opportunities and Challenges in Aviation Industry

1. The 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 Region - Global Forecast to 2025", is expected to reach USD 1,372 million by 2025 from USD 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 @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=230427667 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 lead the augmented and virtual reality market in aviation during the forecast period. 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. 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 @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=230427667 About MarketsandMarkets™ MarketsandMarkets™ 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 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. MarketsandMarkets’s 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. flagship competitive intelligence and market research Contact: Mr. Sanjay Gupta MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441 Email: Newsletter@marketsandmarkets.com