New York, United States , May 14, 2024 (GLOBE NEWSWIRE) -- The Global Military Simulation and Training Market Size is to Grow from USD 13.58 Billion in 2023 to USD 21.94 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.91% during the projected period.
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Military simulators and training offer a wide range of benefits that contribute to enhance the readiness, effectiveness, and efficiency of armed forces covering a wide range of different approaches and activities. It is purely analytical and data-driven processes that can be used in R&D (research and development) and T&E (test and evaluation). These simulators also involve various features of virtual and augmented reality (VR and AR) with computer-generated models and environments for immersive and interactive scenarios which prepare end-users for the real things, giving hands-on training experience. The integration of modern technologies such as artificial intelligence, data analytics, and real-time monitoring into war planning, demonstrating and allowing military officials and the rising need for high-resolution, high-tech military simulators for training defense personnel accelerating the market demand of military simulation and training. The heavy investments and incorporation of new and innovative technologies with improved capability and efficiency enable defense forces to respond effectively ranging from conflicts to asymmetric and hybrid warfare scenarios. The rising need for providing training at low operating costs is anticipated to aid market growth. Further, the rising demand for conventional and unconventional military equipment and software causes less wear and tear on equipment resulting in limited market growth. In addition, the increased military focus on attaining cheaper and more effective solutions is expected to drive the military simulation and training market. On the contrary, the limitation of military simulation and training software to replicate physiological effects in the human body is expected to restrain the market growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Military Simulation and Training Market Size, Share, and COVID-19 Impact Analysis, By Platform Type (Battlefield, Vehicle, Flight Simulation, and Virtual Boot Camp), and By Application (Ground, Air, and Naval), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The flight simulation segment dominates the market with the largest revenue share through the forecast period.
Based on platform type, the global military simulation and training market is segmented into battlefield, vehicle, flight simulation, and virtual boot camp. Among these, the flight simulation segment is dominating the market with the largest revenue share through the forecast period. Flight simulators are used for pilot training, and design purposes replicating the equation that governs aircraft flight control. The high production cost of aircraft complements the market growth in the flight simulation segment.
The air segment dominates the military simulation and training market with the largest revenue share through the forecast period.
Based on the application, the global military simulation and training market is segmented into ground, air, and naval. Among these, the air segment dominates the military simulation and training market with the largest revenue share through the forecast period. The rising demand for border surveillance and battlefield operations is anticipated to drive that market in the air segment.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The growing military spending by countries like Canada and the US has increased the share of the total regional spending. The U.S. Navy’s expansion of various autonomous & unmanned ships, submarines, and aircraft has contributed to the market growth in the North America region. These factors are responsible for propelling the market in the region.
Asia-Pacific region is expected to grow the fastest during the forecast period. The rising focus on cost-effective and best-in-class training is expected to propel the market growth in the region. Further, the increased military expenditure by the defense system in countries of the Asia-Pacific region such as China and India, enhances the market growth. The aircraft simulators and Rafale simulators deal by India, the Helicopter Aircrew Training System program, and the Sea 1000 future submarine simulators by Australia, among others, are expected to aid the market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global military simulation and training market are CAE Inc., Collins Aerospace, Rheinmetall AG, Bohemia Interactive Simulations, Northrop Grumman, Cubic Corporation, Aai Corporation, Lockheed Martin Corporation, BAE Systems, L3Harris Technologies, Inc., THALES, FlightSafety International Inc., and others.
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Recent Developments
- In December 2023, the US State Department approved Saudi Arabia’s request to provide its air force with military training to address current and future threats. The foreign military sale of $1 billion covers the provision of flight training, technical training, and professional military education to the Royal Saudi Air Force (RSAF) and other related forces.
- In January 2023, DASA-funded virtual reality training technology was licensed by the Australian Army. DASA funding helped SimCentric to develop a virtual reality-based training system for military personnel. SimCentric’s virtual reality training technology, SAF-TAC, is helping armed forces personnel improve key skills in a realistic and immersive environment.
- In November 2022, USAF taps SimX for Virtual reality medical simulation training. The US Air Force has awarded medical device manufacturing firm SimX a research and development contract to produce an enhanced virtual reality (VR) medical simulation training program.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global military simulation and training market based on the below-mentioned segments:
Global Military Simulation and Training Market, Platform Type
- Battlefield
- Vehicle
- Flight Simulation
- Virtual Boot Camp
Global Military Simulation and Training Market, Application
- Ground
- Air
- Naval
Global Military Simulation and Training Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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