Fast Market Research announces the availability of the new Markets and Markets report, "Military Simulation and Training Market - Global Forecast to 2021", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 11/18/2016 -- 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
"Growing need for safe and cost-effective training is the key factor impacting the growth dynamics of the military simulation and training 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. Rising instances of political and civil unrest, declining defense budgets of developed economies, increasing defense budgets of emerging economies, and the overarching need to rationalize training expenditures. The evolution of unmanned aerial systems (UAS) for use in military applications has fueled the need for UAS simulators. However, factors, such as lack of interoperability, complexity of the simulator software, and difficulty for simulator manufacturers act as restraints to the growth of the market.
Get More Details on this Report and a Full Table of Contents at Military Simulation and Training Market - Global Forecast to 2021
"The ground application segment is projected to grow at the highest CAGR during the forecast period"
Based on application, the ground segment of the military simulation and training market is anticipated to grow at the highest CAGR during the forecast period. 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 simulator, among others. These simulator systems are used for military combined arms applications and missions.
"Gaming simulation segment is projected to grow at the highest CAGR during the forecast period"
Based on training type, the gaming simulation segment of the military simulation and training market is anticipated to grow at the highest CAGR during the forecast period. The gaming simulation segment is expected to grow due to the rising demand for 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 to account for a dominant share; Asia-Pacific to grow at the fastest rate during the forecast period"
North America dominated the military simulation and training market in 2015. The region has the highest simulator utilization rate and this trend is expected to continue in the coming years. The Asia-Pacific (APAC) region is expected to grow at the highest rate during the forecast period. Asia-Pacific is the one of the prime consumers of military equipment. Countries in this region, such as India and China have increased their military budgets and are increasingly procuring military equipment. As a result, there is a need to provide training to military personnel, which is expected to drive the military simulation and training market.
Break-up of profiles of primary participants in this report:
-By Company Type: Tier 1 - 35%, Tier 2 - 45% and Tier 3 - 20%
-By Designation: C level - 35%, Director level - 25%, Others - 40%
-By Region: North America - 45%, Europe - 20%, Asia-Pacific - 30%, RoW - 5%
Key players profiled in the military simulation and training market report include Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), CAE Inc. (U.S.), Thales Group (France), and L-3 Communications Holdings, Inc. (U.S.), among others.
The study segments the military simulation and training market on the basis of application (airborne, naval, and ground), training type (live, virtual, constructive, and gaming simulation) and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, the Middle East, Latin America, and Africa. The report provides in-depth market intelligence regarding market dynamics and major factors influencing the growth of the military simulation and training market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the military simulation and training market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses - industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the dynamic positioning systems market, high-growth regions, and market drivers, restraints, and opportunities.
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