Military Simulation and Virtual Training Market Research Report 2019 published By Market Research Future, provides information on Global Military Simulation and Virtual Training Industry Size, Share, Trends, Growth and Opportunity Assessment with Regional Analysis and Segmentation By Application (Flight Simulation, Vehicle Simulation, Battlefield Simulation, Virtual Boot Camp), Platform (Airborne, Ground based, Naval), and Region – Global Forecast to 2023. —
Developments in AR & VR Projected to Augment the Global Military Simulation and Virtual Training Market
According to Market Research Future (MRFR)’s study, the global military simulation and virtual training market is set to exhibit a CAGR of 8% during the forecast period 2018 to 2023. Defense ministries are capitalizing on military simulation and virtual training for equipping defense personnel with the knowledge to combat situations such as operations, medical treatment, unmanned systems, and maintenance. It is expected to gain quick mileage in the forthcoming years, thus augmenting the market.
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The increase in the number of terrorist groups coupled with rising insurgency witnessed in the last few decades is expected to drive the growth of the military simulation and virtual training market over the next couple of years. Furthermore, the advent of portable simulation systems is anticipated to boost the growth trajectory of the market in the upcoming years.
Simulation and virtual training facilitate the enhancement of military techniques and also offer tailored training for specific situations. This, in turn, is prognosticated to catalyze the growth of the military simulation and virtual training market through the assessment period. Technological advancements in the virtual reality and augmented reality market are projected to have a favorable impact on the proliferation of the market in the years to come. On the flip side, factors such as lack of incentives & interoperability, requirement of high fidelity, etc. are expected to check the expansion of the military simulation and virtual training market over the projection period. Additionally, the scrimping of the defense budget is likely to restrict market growth in the near future.
Some of the major players of the global military simulation and virtual training market are-
• General Dynamics Information Technology (U.S.)
• Bohemia Interactive Simulations (U.S.)
• Northrop Grumman (U.S.)
• Meggitt Training Systems (U.S.)
• Kratos Defense (U.S.)
• The Boeing Company (U.S.)
• Israel Aerospace Industries (Israel)
• Combat Training Solutions Inc. (U.S.)
• Rheinmetall Defence (Germany)
• BAE Systems (U.K)
In March 2019, Saab AB, a Swedish aerospace and defense company, has signed a contract with the Finnish Defense Forces Logistics Command for the supply of virtual training simulators. The deal is a part of the ‘Finnish Armed Forces’ Training 2020 programme’.
In March 2019, the United States and South Korea jointly announced annual large-scale exercises between the two militaries for building defense relationship. The drill is expected to include virtual training.
In February 2019, Orlando, a city in central Florida, has scored new U.S. Army virtual training team.
By application, the global military simulation and virtual training market has been segmented into flight simulation, vehicle simulation, battlefield simulation, and virtual boot camp.
By platform, the global military simulation and virtual training market has been segmented into airborne, ground based, and naval.
The global military simulation and virtual training market, by region, has been segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. North America, which is a pioneer in advanced technologies, has been prognosticated to lead the growth of the market. the consolidation of major players is likely to benefit the expansion of the military simulation and virtual training market in the region over the next couple of years. In addition, the drastic increase witnessed in investment and research & development is poised to revolutionize the growth trajectory of the market in the foreseeable future. Europe trails North America market in terms of market value. The strong economic growth rate of the developed economies coupled with advancements in defense technology is likely to fuel demand for military simulation and virtual training in the region. In addition, the region has become prone to continuous terrorist attacks which are motivating the governments to adopt the latest technologies. It is estimated to accelerate revenue collection for market participants.
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Scope of Report
The report for Global Military Simulation And Virtual Training Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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Name: Abhishek Sawant
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Release ID: 493629