Flight simulators that use virtual reality (VR) displays are becoming more prevalent in the aviation domain, enabling situation awareness (SA) training and assessment paradigms that integrate a broad range of aircraft types and flight environments. Research has identified three key components of user psychological experiences during VR exposure that may affect cognitive performance: immersion, telepresence, and interactivity. The primary objective of this study was to validate and quantify the effects of these VR experience constructs on pilot SA at the levels of information processing and comprehension. Effects of age and experience were also explored, as these factors are known to influence achievement of SA. Findings from this research will provide insight into the ways in which pilots' psychological experiences of VR flight simulators affect their cognitive processing. Moreover, the results of this work will inform the design of improved VR systems for the training and assessment of pilot SA.