The global military simulation and virtual training market is primarily driven by military platform procurement programs undertaken by several armed forces across the globe. Also, militaries are incorporating simulation based training techniques to ensure safety, cut down operating costs and wear and tear of machinery associated with real time training.
With a number of defense ministries across the globe looking to improve the cost effectiveness of operations, the need for low-cost simulators with advanced artificial intelligence (AI) is expected to surge over the forecast period. Moreover, the technology to develop military training simulators has become more affordable, which in turn resulted in the growth of homeland security and border patrol simulators.
The Global Military Simulation and Virtual Training Market 2018-2028 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 and training equipment, key market trends, and challenges faced by industry participants.
- The Global Military Simulation and Virtual Training Market is projected to value US$10.2 billion in 2018 and is expected to grow at a CAGR of 3.12% during the forecast period.
- The cumulative market for global expenditure on military simulation and virtual training will reach US$128.5 billion over the forecast period.
- In terms of segments, the military simulation and virtual training market is split into three segments: combat, flight, and maritime.
- During the forecast period, flight simulators will lead the global military simulation and virtual training market, with a share of 53.8%, followed by the maritime segment and combat simulators segments over the forecast period.
Reasons to buy
- 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 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 military simulator providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.