This report offers detailed analysis of the military simulations and virtual training market over the next ten years, and provides extensive market size forecasts by country and sub sector. It covers the key technological and market trends in the military simulations and virtual training market. It further lays out an analysis of the factors influencing the demand for military simulations and virtual training, and the challenges faced by industry participants. In particular, it provides an in-depth analysis of the following:
Scope
Key Highlights
The global military simulation market, which valued US$3.5 billion in 2011, is projected to grow at a CAGR of 6.75% over the forecast period to value US$6.7 billion by 2021. Demand for military simulators is anticipated to be driven by both internal and external security threats, territorial disputes and modernization initiatives undertaken by armed forces across the world. Perhaps most importantly demand will be additionally driven by the cost effectiveness provided by military simulators in times when defense budgets are being cut due to the economic difficulties being faced by the key markets including the US and Europe. Cumulatively, the market for military simulators over the forecast period is expected to value US$53.3 billion. Significant spenders include countries in the North American, Asia-Pacific and European regions, with the global military simulation market projected to be dominated by the US over the forecast period, followed by the Asia-Pacific, European and Latin American regions. Even though many of the European nations are facing an economic crisis, Europe’s share of the global market is projected to increase over the forecast period due to a shift from actual to virtual training, owing to the resultant cost savings.
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