Market Leader - Military Simulation and Training Market
A simulator is a system that combines software and hardware to simulate training. The market for simulators includes the airborne, land, and maritime platforms, which are used to train commercial and military crew. Training through simulators can be provided via three techniques: live, virtual & constructive simulation, synthetic environment simulation, and gaming simulation.
The market is expected to be driven by the growing need for educated naval personnel as well as conventional and innovative military equipment and software. Military simulation and virtual training decrease equipment wear and tear, save money, and offer the capacity to satisfy a wide range of needs, all of which contribute to market growth.
The Military Simulation and Training market size is forecasted to grow from an estimated USD 9.2 billion in 2022 to reach USD 12.2 billion by 2027, at a CAGR of 5.6% from 2022 to 2027. Increasing defense spending in the world and new technological developments to help strengthen military capabilities and efficiency is expected to drive the market for Military Simulation and Training across the globe. Increasing geopolitical tensions across regions and overall strengthening activities across the world is triggering the defense spending across these regions.
Agreements, collaborations, new product developments and launches, contracts, acquisitions are among some of the key strategies adopted by the leading market players to strengthen and sustain their position in the Military Simulation and Training market. In 2021, defense budgets and revenues for defense contractors are expected to remain largely stable, as military programs and continue to be critical to national defense, especially considering geopolitical tensions. Global defense spending is expected to grow about 2.8% in 2021, crossing the USD 2 trillion mark. Countries across the globe continue to spend on strengthening their militaries as geopolitical tensions intensify despite the global pandemic.
Most key players in the Military Simulation and Training market like Lockheed Martin Corporation (US), Raytheon Technologies (US) and Rheinmetall AG(Germany) have declared that business has largely be returned to normal but acknowledged the impact of cost and schedules on most program.
To know about the assumptions considered for the study download the pdf brochure
RAYTHEON TECHNOLOGIES (US):
Rheinmetall AG provides customized solutions ranging from fundamental e-learning and basic part-task training to sophisticated simulators or complex training centers across army, naval, and airborne platforms. It operates through 2 segments, including Defence and Automotive. It also offers digital battlefield products, services, and solutions, including air defense systems, command, control & reconnaissance systems, sensors & simulation systems. The company serves its customers across the global market with a major revenue share generated from Europe and Asia Pacific
THALES GROUP (FRANCE):
Thales Group is another major player in the simulators market. It has a strong simulators portfolio to cater to the training needs of the defense sector. The company is majorly focusing on R&D to develop new products, to have a competitive advantage over its competitors. The company is also focusing on securing contracts to enhance its customer base and market share across the globe. In March 2019, Thales Group received a contract from Caverton Helicopters (Africa) to provide Reality-H Full Flight Simulator to train the pilots of Caverton Helicopters for the AW139 aircraft platform. This helped the company in expanding its customer base in Africa.
BAE SYSTEM (UK):
BAE System secures a major share in the defense and military markets. It showcases strong experience developing next-generation technologies such as electronic warfare and artificial intelligence. Applied Intelligence Laboratories (AI Labs) is the research and technology arm of the Applied Intelligence business. The autonomy R&D teams have been inventing, evolving, and implementing world-class autonomous solutions for over 25 years. Their work includes pioneering data fusion, machine learning, and dynamic planning & control technologies. These innovations allow autonomous systems to assess information from multiple sources, develop situational understanding, learn about changes in the operational environment, and act accordingly by making informed decisions optimized for missions and simulation systems.
Related Reports:
Military Simulation and Training Market by Application (Army, Aviation, Naval), Type (Live, Virtual, Constructive), Platform (Land, Maritime, Airborne), Solution, Environment (Synthetic, Gaming), Technology & Region - Global Forecast to 2027
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
