The global military simulation and virtual training market is anticipated to grow at considerable CAGR around 4.0% over the forecast period and reach US$ 15.12 Bn by 2026. Military simulation and virtual training are a vital part of military activities. Military simulation and virtual training products are looked for after by defence ministries, on a worldwide scale, in order to give training to the workforce in the naval, air, and land-based domains. Military simulations related to unmanned vehicle systems, combat operations, maintenance and medical treatment permit the virtual training to take place on different scenarios. Various government across the globe are taking initiatives in order to provide cost effective and accurate simulation and virtual training systems for military forces. The report provides analysis of global Military Simulation and Virtual Training market for the period 2015-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year.
Increasing instances of political and civil clashes, expanding demand for conventional and unconventional military equipment, rising need for skilled workforce and escalating need to reduce training expenditure across the globe are escalating the overall market growth. The introduction of favorable initiatives by several countries across the world is anticipated to enhance the demand for military simulation and virtual training systems. The adoption of flight simulators is escalating rapidly across the globe owing to the emergence of portable simulation systems, thereby increasing the growth of the overall market. Factors such as constantly growing production cost of aircrafts and focus on reducing the flying time with reduced cost are propelling the growth of the global military simulation and virtual training market. Rising need for trained workforce and growing modernization of existing military infrastructure are boosting the adoption of military simulation and virtual training systems. Additionally, increased focus on cheaper and effective military solutions is the major factor driving the growth of the overall market. Defense ministries are rapidly opting various virtual training and simulation based games which includes artificial intelligence (AI), big data and cloud data which, in turn, is driving the market.
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The market research study on “Military Simulation and Virtual Training Market (By Type - Flight, Vehicle, Battlefield, Virtual Boot Camp; By Application - Ground, Air, Naval) - Global Industry Size, Share, Trends and Forecast 2018 - 2026” offers a detailed insights on global military simulation and virtual training market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global military simulation and virtual training market by type, application and major geographic regions. The report also covers basic metal fabrication development policies. Secondly, the report covers global military simulation and virtual training market size and segment markets by type, application and geography along with the information on companies operating in the market.
The global Military Simulation and Virtual Training market is characterized by the presence of experienced and established players. Some of the key players include BAE Systems, Thales Group, Cubic Corporation, CAE, Aai Corporation, Rockwell Collins Inc., Northrop Grumman Corporation, Bohemia Interactive Simulations, Lockheed Martin Corporation, L3 Link Training & Simulation, and others.
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Introduction The global military simulation and virtual training market is anticipated to grow at considerable CAGR around 4.0% over the forecast period and reach US$ 15.12 Bn by 2026. Military simulation and virtual training are a vital part of military activities. Military simulation and virtual training products are looked for after by defence ministr
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