San Francisco, 11
March, Military Simulation and Virtual Training Market
Size, Share & Trends Analysis Report By Platform Type (Flight, Vehicle,
Battlefield, Virtual Boot Camp), By Application (Ground, Air, Naval), And
Segment Forecasts, 2018 - 2025
The
global military simulation & virtual training market size
is expected to reach USD 15.07 billion by 2025, according to a study conducted
by Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.2% over
the forecast period. Rising political instability and disputes coupled with
growing adoption of simulators and virtual training methods to safeguard the
trainees are expected to drive the market. Rising prices of armed components
and environmental concerns are expected to fuel demand for virtual training
practices from defense sector.
Over the past decade, the military
simulation & virtual training market is gaining prominence as it is
considered as a cost-effective solution for training the armed personnel to
ensure their safety. However, the procurement of simulator and virtual training
devices is primarily dependent on the purchase of military equipment such as
fighter aircrafts, tanks, gunneries, submarines, armored vehicles, helicopters,
naval ships, and Unmanned Aerial Vehicles (UAVs). The current and future
military expenditure are expected to influence growth of the market from 2018
to 2025.
North America accounted for around 36% of
global military spending in 2017 and is expected to lead the military
simulation and virtual training market over the next few years. This growth can
be attributed to the increasing demand and high defense expenditure of
countries, such as U.S. and Canada. However, Asia Pacific is expected to expand
at the highest CAGR of 5.0% over the forecast period majorly driven by the
increasing investments in the defense sector in countries such as China and
India, which accounted for around 17% of the global military spending in 2017.
Access Full Research Report On Military Simulation and Virtual Training Market Analysis:
Further
key findings from the study suggest:
·
Flight simulation segment is expected to
lead the military simulation and virtual training market over the forecast
period owing to high spending in the aero-defense industry
·
Air application segment is expected to
continue leading over the forecast period due to wide adoption of flight
simulation techniques to reduce the penetration of live training, thus helping
the government reduce operating costs
·
The platform segment is expected to reach
USD 2.59 billion by 2025, growing at an accelerating CAGR of 4.3% over the
forecast period
·
North America is expected to be the largest
regional segment over the forecast period owing to the huge investments in the U.S.
defense industry
·
Prominent industry participants include L-3
Technologies, Inc.; Lockheed Martin Corporation; Thales Group; and The Raytheon
Company among others.
Browse More Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global military
simulation & virtual training market based on platform type, application,
and region:
Military Simulation and Virtual Training
Platform Type (Revenue, USD Million, 2015 - 2025)
·
Flight
·
Vehicle
·
Battlefield
·
Virtual Boot Camp
Military Simulation and Virtual Training
Application Type (Revenue, USD Million, 2015 - 2025)
·
Ground
·
Air
·
Naval
Military Simulation and Virtual Training
Regional Outlook (Revenue, USD Million, 2015 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
France
o
Germany
·
Asia Pacific
o
China
o
Japan
o
India
·
South America
o
Brazil
o
Mexico
·
Middle East & Africa
Browse Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-military-simulation-virtual-training-market
https://www.grandviewresearch.com/press-release/global-military-simulation-virtual-training-market
About Grand View Research
Grand View Research provides
syndicated as well as customized research reports and consulting services on 46
industries across 25 major countries worldwide. This U.S.-based market research
and consulting company is registered in California and headquartered in San
Francisco. Comprising over 425 analysts and consultants, the company adds 1200+
market research reports to its extensive database each year. Supported by an
interactive market intelligence platform, the team at Grand View Research
guides Fortune 500 companies and prominent academic institutes in comprehending
the global and regional business environment and carefully identifying future
opportunities.
For more information: www.grandviewresearch.com/
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