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Portland, OR, Sept. 29, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global aviation augmented and virtual reality market generated $0.91 billion in 2021, and is projected to reach $23.6 billion by 2031, growing at a CAGR of 39.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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AR and VR in Aviation Industry Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.91 billion |
| Market Size in 2031 | $23.6 billion |
| CAGR | 39.2% |
| No. of Pages in Report | 369 |
| Segments Covered | Technology, type, component, end-use, function, and region. |
| Drivers | Surge in adoption of Augmented Reality (AR) and Virtual Reality (VR) based solution for trainings and marketing purposes. |
| Extensive adoption of innovative technology in the aviation sector. | |
| Opportunities | Increase in production and deliveries of commercial aircraft. |
| Rise in internet penetration. | |
| Restrains | Serious threats to the physical and emotional wellbeing of the end-users. |
| Increase in security issues and cyber threat. |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global aviation augmented and virtual reality market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of commercial…
Read on GNW: Aviation Augmented and Virtual Reality Market to Reach
