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Contracts and Agreements Were Among the Key Strategies Adopted by Leading Players to Grow in the Military Simulation and Training Market
Military simulation is a combination of computer systems and software solutions that simulate the system and its dynamics to give the user an artificial environment for training. It is an informal training in which theories of warfare can be tested and refined without the need for actual hostilities. Military simulation covers a wide spectrum of activities, ranging from full-scale field exercises to abstract computerized models that can proceed with limited human involvement. 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.
Future combat system is the latest technology in military simulation. It uses dome trainer, which is a computer-aided training system offering a wide range of sea, ground, and air targets, attack profiles and computer-generated forces in a simulated 360 degree indoor training environment. This system is supported by precise simulation of weapons, equipment, and data required for simulation monitoring and assessment, which is acquired by sensors and tracking systems that allow the instructor a detailed interrogation after training missions are completed.
Key players in the military simulation and training market include Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), CAE Inc. (U.S.), Thales (France), and L-3 Communications Holdings, Inc. (U.S.), among others. These market players have been focusing on securing government contracts as a major strategy for organic growth. Their core competencies include widespread geographical presence and high investment in R&D activities.
Lockheed Martin Corporation (U.S.) is a major player in the military simulation and training market. The company has been focusing on securing contracts to achieve growth in the military simulation and training market. For instance, Lockheed Martin received a contract worth USD 25 million from the U.S. Navy to produce Enhanced Laser Guided Training Rounds (ELGTR), which are generally used for operational laser-guided bombs (LGB) during training.
Northrop Grumman Corporation (U.S.) is one of the top companies in military simulation and training market. The prime focus of the company is to attain organic growth by securing contracts from various governments worldwide for military simulation & training systems. Northrop Grumman received a contract from the U.S. Air Force to support war fighter training systems at the U.S. Air Force operating locations.
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
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