Global Military Simulation and Virtual Training Market 2018-2028: Cumulative Market Expected to Reach $128 Billion - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 27, 2018--The “The Global Military Simulation and Virtual Training Market 2018-2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Military Simulation and Virtual Training Market 2018-2028 report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for military simulation and training equipment, key market trends, and challenges faced by industry participants.
The global military simulation and virtual training market is primarily driven by military platform procurement programs undertaken by several armed forces across the globe. Also, militaries are incorporating simulation based training techniques to ensure safety, cut down operating costs and wear and tear of machinery associated with real time training.
With a number of defense ministries across the globe looking to improve the cost effectiveness of operations, the need for low-cost simulators with advanced artificial intelligence (AI) is expected to surge over the forecast period. Moreover, the technology to develop military training simulators has become more affordable, which in turn resulted in the growth of homeland security and border patrol simulators.
ScopeThe Global Military Simulation and Virtual Training Market is projected to value US$10.2 billion in 2018 and is expected to grow at a CAGR of 3.12% during the forecast period. The cumulative market for global expenditure on military simulation and virtual training will reach US$128.5 billion over the forecast period. In terms of segments, the military simulation and virtual training market is split into three segments: combat, flight, and maritime. During the forecast period, flight simulators will lead the global military simulation and virtual training market, with a share of 53.8%, followed by the maritime segment and combat simulators segments over the forecast period.
Companies MentionedLockheed Martin Boeing CAE Thales Rockwell Collins L-3 Link Training and Simulation SaaB Rheinmetall AG Airbus Cubic Global Defense Inc Fidelity Technologies Corporation Meggitt Training Systems VirTra Systems FAAC
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Related Topics:Virtual and Augmented Reality
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE DEFENSE OTHER DEFENSE
SOURCE: Research and Markets
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PUB: 08/27/2018 10:39 AM/DISC: 08/27/2018 10:39 AM