Military Security & Defence Market Research News

New study: Military simulation and training market is projected to reach USD 12.67 billion by 2021, at a CAGR of 4.20%

The military simulation and training market is estimated to be USD 10.31 Billion in 2016 and is projected to reach USD 12.67 Billion by 2021, at a CAGR of 4.20% during the forecast period. The base year considered for the study is 2015 and the forecast period is from 2016 to 2021.

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Challenging global security conditions, due to unconventional attack styles and urban warfare, have rendered traditional military training methods ineffectual. Dynamic methods, combining live and virtual training, are helping to prepare armed forces for future missions and coordinated attacks.

Simulation forms an integral part of this approach and will drive demand over the forecast period.

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There are a number of factors encouraging militaries to reduce their participation in live training programs; environmental issues and high energy prices are the two main components.

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Due to this, the simulator and virtual training market is gaining attention as it is deemed a more cost efficient form of training.

However, the procurement of simulators is primarily dependent on the acquisition of other military equipment such as aircraft, submarines, helicopters, armored vehicles, unmanned aerial vehicles (UAVs), and naval ships. With the market for these systems expected to record a robust growth in expenditure over the forecast period, military simulators will be in demand.

The objectives of this study are to analyze the military simulation and training market, along with statistics from 2016 to 2021 as well as to define, describe, and forecast the military simulation and training market on the basis of application- airborne (jet flight, rotary flight and UAV flight), naval (ship bridge, submarine and others), and ground (battlefield, combat, ground vehicle and others), training type -live, virtual, constructive, and gaming simulation, and map these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, the Middle East, Latin America, and Africa.

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The report provides in-depth market intelligence regarding market dynamics and major factors influencing the growth of the military simulation and training market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the military simulation and training market.

The report also covers competitive developments, such as long-term contracts, joint ventures, mergers, new product launches and developments, and research & development activities in the military simulation and training market, in addition to business and corporate strategies adopted by key market players.

In particular, the report provides an in-depth analysis of the following -
- Market size and drivers: detailed analysis during 2017-2027, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of military simulation and virtual training segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
- Major programs: details of the key programs in each segment, which are expected to be executed during 2017-2027
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis

Synopsis

The Global Military Simulation and Virtual Training Market 2017-2027 report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for military simulation virtual training systems, key market trends, and challenges faced by industry participants.

Scope

- The global military simulation and virtual training market is expected to grow at a CAGR of 3.43% over the forecast period.
- The market consists of three categories: Flight Simulators, Maritime Simulators and Combat Simulators. With major economies focusing on strengthening and modernizing their air attack and defense capabilities, flight simulators are projected to be the dominant segment in the military simulation and virtual training market.

Flight simulators will account for 59.3% of the market in 2027, followed by maritime simulators with a share of 22.8%, and combat simulators with a share of 17.9%. North America will continue to dominate the military simulation and virtual training market, with a 33.5% share of the market’s revenue in 2027, followed by the Asia-Pacific with a share of 30.5%, and Europe with 21.9%.

Reasons to access

- Determine prospective investment areas based on a detailed trend analysis of the global military simulation and virtual training market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different military simulation and virtual training segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global military simulation and virtual training market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military simulation and virtual training market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top simulation and virtual training providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available

 

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