Global Aviation Training Market to Hit $66.9b, Report Reveals
The global aviation training market encompassing human capacity development for skilled pilots, cabin crew, flight dispatchers, aircraft engineers/technicians and other professionals in the aeronautical space will witness significant growth in the next 12 months, statistics from industry databank report Markets and Markets, has revealed.
Citing growing demand for specialised industry skills in the air travel space, the report reveals a five-year growth trajectory pulling from $52.9 billion in 2020 to $66.9 billion by 2025.
Spiking a 4.8 per cent cumulative annual growth rate, the report highlighted some factors driving dynamics for the global aviation training market to include: the rising adoption of simulation-based training for various aviation roles, as it offers cost-effective, safe, and realistic learning environments.
It further highlights that simulation-based training can also help address the challenges of pilot shortage, aging workforce, and regulatory compliance.
To tap into opportunities in the value chain, aviation training organisations in Nigeria: International Aviation College (IAC), Ilorin, Kwara State, and the Nigerian College of Aviation Technology (NCAT), are exploring opportunities for partnership as they are concluding plans to ink a Memorandum of Understanding (MoU), to deepen training capacities in the fields of piloting, aircraft engineering repairs and other areas of core competence.
The new deal between the two Nigerian Aviation Training Organisations (ATOs), is to chalk into the burgeoning revenue that could be derived from the multi – million dollar industry.
Acting Rector of IAC, Captain Yakubu Okatahi, who disclosed this in an interview, said the College is taking steps to leverage its capacity to attract global recognition in the training of core aviation professionals.
Nigeria, Okatahi said, is a major player in the global aviation manpower development chain, which must seek partnership internally to boost its service offering.
Significantly, he said the IAC, is ramping up efforts to boost its service offering in the training of aviation personnel by introducing short courses to boost the internally generated revenue of Kwara State.
The aviation training market offers several opportunities for the key players to capitalize on the existing and potential demand for aviation services.
The Market and Market report indicates that the expansion and diversification of the aviation training portfolio and customer base offers new and customized training solutions and products that cater to the specific needs and preferences of the different segments and regions of the market.
It listed the markets to include burgeoning low-cost carriers, business aviation, general aviation, military aviation, and the emerging markets.
The report stated: “The collaboration and partnership among key players, such as the training providers, aircraft manufacturers, airlines, airports, regulators and associations is driving the growth of the aviation training organisations’ market.
“These collaborations and partnerships can help leverage the resources, expertise, and networks of the different stakeholders, and create synergies and value-added services for the customers.
“The innovation and differentiation of the aviation training offerings and delivery, by adopting and integrating the latest technologies, methodologies, and best practices that can enhance the learning outcomes, efficiency, and competitiveness of the training.
“These innovations and differentiations can also help create a unique and distinctive brand identity and reputation for the key players in the market.’
Citing strides by CAE, a leading provider of aviation training solutions, the Market and Market reports said the recently launched CAE Rise, a cloud-based platform that leverages artificial intelligence and big data analytics to deliver personalized training and performance assessment for pilots is altering the stakes in the industry.
The report stated: “The growing demand for low-cost carriers (LCCs) in emerging markets, such as Asia-Pacific and Latin America, will create new opportunities for aviation training providers. LCCs typically operate with a lean workforce and require efficient and flexible training solutions. For example, IndiGo, India’s largest LCC, has partnered with L3Harris Technologies to establish a joint venture training center in Bengaluru, which will offer a range of training programs for pilots and cabin crew.
“The increasing focus on enhancing the safety and quality of aviation services, especially in the wake of the COVID-19 pandemic, has highlighted the need for rigorous and standardized training protocols.
“Aviation training providers are expected to invest in advanced technologies and methodologies, such as virtual reality, augmented reality, gamification, and adaptive learning, to improve the learning outcomes and retention rates of trainees.
“For instance, FlightSafety International, a leading aviation training company, has introduced FlightSmart, a new approach to training that uses artificial intelligence and machine learning to optimize the training curriculum and instructor feedback for each trainee.”
