Augmented reality & virtual reality in aerospace Market Insights on Future Scenario, 2020 to 2025
Global Augmented reality & virtual reality in aerospace Market 2020–2025 Trends & Forecast Report, Consistent with our stated policy of making available the best research and analysis report.
Fremont, United State – January 10, 2020 /MarketersMedia/ —
Augmented reality & virtual reality (AR VR) in aerospace Market is rapidly gaining traction due to its potential applications and current success in the implemented aerospace applications. Augmented reality & virtual reality in aerospace Market application includes pilot training, crew training, passenger infotainment and operational use like navigation and monitoring. The product innovation and improved software solutions has induced the demand for Augmented reality & virtual reality products in the augmented reality & virtual reality in aerospace Ecosystem.
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In aircraft manufacturing the augmented reality & virtual reality in aerospace Market devices are used for the digital prototyping of the aviation parts new designing of parts which helps to reduce the extra overheads for making physical prototypes enabling companies to reduce the cost in prototyping of the aviation part. In addition, the combination of 3D printing and virtual reality (VR) will enhance the manufacturing of aviation product in near future. For instance, Companies such as Boeing, Airbus and Lockheed Martin Corporation are implementing the AR VR in aerospace Ecosystem in the manufacturing, product development and monitoring & maintenance.
In augmented reality & virtual reality (AR VR) in aerospace Market, the use of immersive technologies for employee training, passenger infotainment and building marketing strategies is growing and improving the customer experience during the fight. For instance, Air France uses virtual reality system a head-mounted displays to show passengers TV series and 3D films. Air New Zealand airline cabin crew uses Microsoft HoloLens for augmented reality training. The flight attendants and cabin crew uses a HoloLens headset to access to real-time flight information including emotion tracking of the passengers, thus helping to flight attend to serve better to the passengers. Augmented reality & virtual reality in aerospace enables smoother and efficient operations that lead to cost savings in aviation functions such as manufacturing, maintenance, airport operations, airline operations, aviation training, among others. Augmented reality & virtual reality in aerospace Market provides an immersive and interactive approach that connects the aviation ecosystem to improve the efficiency of various tasks.
Smoother airport and airline operations lead to more revenue as aircraft spend less time out of service and more time flying.
AR VR in aerospace is analyzed by Components like Sensors, Camera, IMU, Processor, Modules, Graphics (Cards), Audio ICs, Memory, Display, Others
AR VR in aerospace Market is also analyzed by Software & Services like Professional Services, Design and Integration, Risk and Threat Assessment, Consulting, Training and Education, Support and Maintenance, Managed Security Services
AR VR in aerospace Market is also analyzed by application like 3D modelling/ Design, Training, Monitoring/ Maintenance
Based on region, North America segment dominated in the augmented reality & virtual reality in aerospace Market in 2018 and is expected to witness similar trends in coming years. Presence of major players in augmented reality & virtual reality in aerospace are Microsoft, Google, Facebook and others is driving the growth of augmented reality & virtual reality in aerospace Market in the region. Asia Pacific is expected to grow at a fastest pace with a CAGR of XX% during the forecast period. According to market study in 2016, xx% of key aerospace companies are expected to adopt augmented reality & virtual reality in aerospace in coming years. That is thereby expected to drive the growth for augmented reality & virtual reality in aerospace in Asia Pacific during the forecast period.
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The players in augmented reality & virtual reality in aerospace mainly focus on mergers and acquisitions, joint ventures and partnerships for strengthening their presence in market. For instance, in 2017, Boeing’s HorizonX has invested in augmented reality & virtual reality in aerospace ecosystem C360 Technologies, a start up in augmented reality and virtual reality and 360 degree videos. The common augmented reality & virtual reality in aerospace solution provided by the companies such as Upskill, Eon Reality, PTC Inc., and Vuzix are in complex assembly management, quality control, training and development, traceability, process management, airline ground operation and maintenance & repair. The market is will witness the high growth rate during the forecast period due to increasing adoption of technology and rising use of augmented reality & virtual reality in aerospace Market by the end use companies such as Boeing, Airbus etc.
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