HOME › Press Releases › Military Simulation and Training Market worth 12.67 Billion USD by 2021
Military Simulation and Training Market worth 12.67 Billion USD by 2021
The report "Military Simulation and Training Market by Application (Airborne Simulation, Naval Simulation, Ground Simulation), Training Type (Live Training, Virtual Training, Constructive Training, Gaming Simulation Training), and Region - Global Forecast to 2021", 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.
Browse 80 market data tables and 58 figures spread through 171 pages and in-depth TOC on “Military Simulation and Training Market - Global Forecast to 2021”
Early buyers will receive 10% customization on reports.
Factors, such as rising instances of political and civil unrest, declining defense budgets of developed economies, and overarching need to rationalize training expenditure are expected to drive the military simulation and training market.
The ground application segment is projected to grow at the highest rate during the forecast period
On the basis of application, the ground segment is estimated to grow at the highest rate due to rise in procurement of land systems, such as combat training simulation systems, turret team training simulators, tactical training simulators, among others. These simulator systems are in demand for military combined arms applications and missions.
Gaming simulation segment is estimated to grow at the highest rate during the forecast period
Based on training type, the military simulation and training market has been segmented into live, virtual, constructive, and gaming simulation. The live training segment is expected to account for the maximum market share during the forecast period. However, the gaming simulation segment is estimated to grow at the highest rate due to the increasing demand for gaming simulation for training, tactics analysis, and mission preparation. Gaming simulation is an important tool to impart training to war fighters by recreating battlefield.
The military simulation and training market in Asia-Pacific is expected to grow at the highest rate
The market for military simulation and training is estimated to be the largest in North America. However, this market in APAC is expected to grow at the highest rate due to increasing defense budgets of major economies (China, India, South Korea, and Australia) in the region, and rising R&D expenditure for military simulation and training.
Lockheed Martin Corporation (U.S.): One of the key players in the military simulation and training market. Other major players in the military simulation and training market are Northrop Grumman Corporation (U.S.), CAE Inc. (U.S.), L-3 Communications Holdings, Inc. (U.S.), and Thales Group (France), among others.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India