Global Military Simulation and Virtual Training Market 2017-2027
LONDON, Aug.7, 2017 /PRNewswire/ -- Global Military Simulation and Virtual Training Market 2017-2027
Summary
Global military simulation and virtual training market will value US$14.3 Billion by the end of 2017 and reach US$20.0 Billion in 2027, at a compound annual growth rate (CAGR) of 3.43% over the forecast period (2017-2027). The cumulative market for global expenditure will reach US$183.1 Billion over the same period.
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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.
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. Disputes over maritime borders and natural resources have warranted military super powers to focus on modernizing their navies. This will drive the demand for maritime simulators, making it the second-largest segment in the 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%. The Middle East is projected to become a highly attractive market for military simulation and virtual training due to the volatility of political conditions and the ongoing threat of terrorism. It is set to account for a share of 9.4% in 2027, followed by Latin America and Africa with a collective share of 4.8%.
A focus on LVC poses a challenge for suppliers when integrating and modernizing training facilities. Essentially, a state of interoperability must be attained among various systems. With countries looking for solutions that can be used across multiple military divisions and include network centric warfare training and multi-team coordinated preparation against terrorist attacks, the challenge facing companies is providing simulations complex enough to cover all scenarios.
The report "Global Military Simulation and Virtual Training Market 2017-2027" offers a detailed analysis of the global military simulation and virtual training market over the next 10 years, providing data pertaining to market size and forecasts. It covers key technological and market trends by analyzing factors influencing the demand for military simulation and virtual training equipment.
In particular, it provides an in-depth analysis of the following -
- Overview: A snapshot of the global military simulation and virtual training market over 2017-2027, including demand drivers, trends, and challenges. The report breaks down spending by region and market segment.
- Market dynamics: Including insights into technological developments in the military simulation and virtual training market and a detailed analysis of the changing preferences of international governments. It also analyzes changing market structure trends and the challenges faced by the market participants.
- Segment analysis: A look at the military simulation and virtual training market from a segmental perspective, including a detailed analysis of factors influencing the market in each sector.
- Regional review: An overview of the modernization patterns and budgetary allocation of the top countries within a region.
- Regional analysis: Insights into the military simulation and virtual training market delivered from a regional perspective, including a breakdown of factors specific to each region.
- Trend analysis - key defense markets: Analysis of the key trends in each market by region and segment according to demand.
- Key program analysis: Details of the leading programs in each segment expected to be executed over the forecast period.
- Competitive landscape analysis: An evaluation of the military simulation and virtual training market's competitive landscape, featuring an overview of key defense
companies, alliances, strategic initiatives, and financial analysis.
Companies mentioned in this report: Lockheed Martin Corporation, Boeing, CAE, Saab AB, L-3 Link Simulation & Training, DCNS, Sikorsky Aircraft Corporation, Rockwell Collins, Kratos Defense and Security Solutions, Inc., Teledyne Brown Engineering, Inc., Thales, HAVELSAN, The DiSTI Corporation, ZedaSoft, Inc., Fidelity Technologies Corporation, VirTra Systems, Meggitt Training Systems.
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 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 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
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