Extended Reality Aerospace Market Size to Grow At 30.1% CAGR From 2024 to 2030

Extended Reality Aerospace Market Size (2024 - 2030)

As per our research Report, the Extended Reality Aerospace Market is forecasted to be growing at CAGR of 30.1% from 2024 to 2030.

Extended Reality (XR), constituting virtual reality (VR), augmented reality (AR), and mixed reality (MR), has immense transformative capacity in the aerospace industry. It revolutionizes training, design, and aircraft development by making simulated environments. XR's advantages include simulating complex systems for cost-friendly testing, offering safe training environments, facilitating interactive 3D modelling for superior designs, and generating digital twins for performance monitoring and problem detection. Aerospace professionals must embrace XR's potential to propel future advancements in the industry. In conclusion, XR has the power to turnaround the aerospace industry, providing safe and inexpensive solutions for training, design, and development. By harnessing the abilities of virtual reality, augmented reality, and mixed reality, XR opens up new opportunities for simulating and optimizing complex aircraft systems, bettering training effectiveness, streamlining design systems, and enhancing performance monitoring. Encouraging XR technology will be pivotal for aerospace professionals to stay at the forefront of innovation and make use of its benefits for continued advancements in the industry.

Extended Reality (XR) has become increasingly popular and has attracted significant investment globally. Business firms across industries are exploring the capabilities of virtual reality (VR), augmented reality (AR), and mixed reality (MR) technologies. XR finds applications in immersive training, research and development, virtual collaboration, entertainment, and remote assistance. Industries are also employing XR to offer customers pre-purchase testing experiences. This not only increases consumer satisfaction but also lowers product returns. Investors are taking notice of these opportunities in segments like aerospace, e-commerce, education entertainment, healthcare, sports, and tourism. Therefore, this element drives the demand for extended reality in aerospace.

Virtual reality (VR), augmented reality (AR), and mixed reality (MR) technologies in aerospace narrow down operations, leading to cost preservation across manufacturing, maintenance, airport, airline, and training operations. These immersive technologies advance task efficiency, resulting in smoother airport and airline operations. This enhanced efficiency permits aircraft to spend more time flying, generating higher revenue by minimizing grounded time. VR/AR/MR enhances the overall effectiveness of the aerospace industry, bettering operational performance and financial results. Therefore, this factor also influences the demand for extended reality in aerospace.

The utilization of virtual reality (VR) technology for passengers' entertainment offers a lucrative opportunity in the global extended reality in the aerospace market. Commercial airlines are encouraging VR technology to increase the flight experience for passengers, especially those who are afraid of flying. By applying VR headsets, airlines create an entertaining and comforting environment during the flight. Air France serves as an instance of successful implementation, utilising VR to entertain and alleviate anxiety in anxious customers. The combination of VR has greatly enhanced the overall flight experience for individuals with a scare for flying.

The outbreak of the COVID-19 pandemic substantially resulted in the global extended reality in the aerospace market. The pandemic caused disturbances in supply chains and distribution of goods and services, which highly affected the implementation of extended reality in the aerospace industry. Moreover, the pandemic caused a financial strain in the aerospace industry, potentially affect XR technology innovation due to lesser research and development activities and investment caused by budget restrictions and cost-cutting measures. These elements negatively affected the growth of the global extended reality in the aerospace market. Despite these hurdles, the global extended reality in the aerospace market is expected to recover and grow in the future years.

Key Market Insights: 

  • Based on the device, the global extended reality in the aerospace market is divided into handheld devices, head-mounted displays, head-up displays, and smart glasses. In 2023, the head-mounted displays segment held the biggest market share. The growth can be dedicated to the immersive experience and real-life environment that head-mounted displays provide to individuals in contrast to other technologies, increasing the effectiveness of many applications, including pilot training, cabin crew training, and in-flight entertainment, head-mounted displays are very comfortable and affordable in contrast to other XR-based technological equipment, which makes them easily accessible to aerospace professionals.

  • Based on the technology, the global extended reality in the aerospace market is fragmented into virtual reality (VR), augmented reality (AR), and mixed reality (MR). In 2023, the virtual reality (VR) segment held the biggest market share. The growth can be dedicated to the extensive utilization of VR technology in aircraft design and simulation. VR technology has transformed aircraft design and simulation, resulting in time and cost savings, enhanced safety, and accuracy. VR permits engineers to create realistic simulations of flight properties, refining designs before physical construction. It ensures virtual flight environments for experiencing aircraft behaviour. VR's use is beneficial in new aircraft development, lowering expenses by replacing physical prototypes and airborne tests.

  • Based on the application, the global extended reality in the aerospace market is divided into aircraft design and simulation, aircraft maintenance and repair, pilot training, and others. In 2023, the pilot training segment held the biggest market share. The growth can be dedicated to the rising demands of pilot training and flight safety in the expanding aerospace industry. To align with these demands, extended reality (XR) technologies, such as augmented reality (AR), virtual reality (VR), and mixed reality (MR), are being widely adopted. AR overlays real-time digital information in the cockpit, helping operational procedures and notifying pilots to hazards.

  • The region of North America held the biggest share of the global extended reality in the aerospace market in the year 2023. The existence of well-established aviation industries in countries, such as the United States and Canada, the early and wide adoption of advanced technologies like virtual reality (VR), augmented reality (AR), and mixed reality (MR), the rising deployment of extended reality in a range of applications, and the growing investments in research and development activities are some of the elements propelling the region's growth.

Extended Reality Aerospace Market Segmentation:

 By Device 

  • Handheld Devices

  • Head-Mounted Displays

  • Head-Up Displays

  • Smart Glasses

By Technology

  • Virtual Reality (VR)

  • Augmented Reality (AR)

  • Mixed Reality (MR)

By Application

  • Aircraft Design and Simulation

  • Aircraft Maintenance and Repair

  • Cabin Crew Training

  • In-flight Entertainment

  • Pilot Training

  • Others

By Region

  • North America

  • Europe

  • Asia-Pacific

  • South America

  • Middle East & Africa

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