According to Fortune Business Insights, the global simulator market was valued at USD 18.07 billion in 2023 and is expected to grow to USD 19.67 billion in 2024, reaching USD 32.38 billion by 2032. This represents a compound annual growth rate (CAGR) of 6.4% during the forecast period. North America dominated the market in 2023, holding a 36.75% share.

A simulator is majorly used to create a realistic virtual environment that replicates various scenarios from real life to help users interact and experience different situations in a controlled setting. These simulations are being widely used in several industries, such as automotive, aviation, military, and gaming. Since the demand for training and skill development is constantly rising in these sectors to keep up with the ever-changing market environments, the simulator market growth is expected to gain significant pace.

Fortune Business Insights™ displays this information in a report titled, "Simulator Market Size, Share, Forecast, and 2024-2032."

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LIST OF KEY COMPANIES PROFILED IN THE REPORT

• BAE Systems Plc (U.K.)
• The Boeing Company (U.S.)
• CAE Inc. (Canada)
• cre8tive rooms (U.K.)
• Indra Sistemas (Spain)
• Konsgberg Group (Norway)
• L3 Harris Technologic Inc. (U.S.)
• Pulseworks LLC (U.S.)
• Raytheon Technologies Corporation (U.S.)
• Unitest Marine Simulators (Poland)

Segmentation:

Simulators to be Widely Used in Aerospace & Defense Sector to Train and Test New Recruits