“Rising instances of political and civil unrest, declining defense budgets of developed economies, and overarching need to rationalize training expenditure are the key factors impacting the growth dynamics of the military simulation and training market”
This report provides an analysis of the military simulation and training market during the next five years. It discusses industry and technological trends that are currently prevailing in the market. It analyses factors driving and restraining the growth of this market as well as challenges faced by this market. 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. Key factors fueling the growth of the military simulation and training market include increasing demand for advanced simulation & training equipment, which can replace legacy equipment.
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Based on application, the ground segment of the military simulation and training market is projected to grow at the highest CAGR as the demand for ground simulators is increasing 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 used mainly for military combined arms applications and missions.
Based on training type, the gaming simulation segment is expected to lead the military simulation and training market. This segment is expected to lead the studied market in 2016, and is expected to continue its dominance during the next five years; militaries have been using gaming simulation for training, tactics analysis, and mission preparation. Gaming simulation is an important tool to impart training to war fighters by recreating battlefield.
North America dominated the military simulation and training market in 2015. The region has the highest simulator utilization rate among all regions and this trend is expected to continue in the coming years. The military simulation and training market in the Asia-Pacific (APAC) region is expected to grow at the highest CAGR during the forecast period. Several countries in the region, such as India and China have increased their military budgets to procure military equipment and modernize their forces due to political chaos among nations.
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