Published on : Aug 13, 2018
Albany, New York, August 13, 2018: It has been analyzed that, the global military simulation and virtual training market is mainly energized by military platform procurement programs which are undertaken by different armed forces present all across the globe. To study the overall market scenario prevailing in the military simulation and virtual training sector, a new research study has been included to the wide online repository managed by Market Research Hub (MRH). This report is titled “The Global Military Simulation and Virtual Training Market 2018-2028”, which talks about the detailed analysis of the concerned industry together with the inclusion of market size forecasts for the next ten years. Furthermore, the report also analyzes factors that encourage demand for military simulation and training equipment, key market trends as well as challenges faced by industry participants.
According to research findings, the global military simulation and virtual training market is projected to acquire US$10.2 billion in 2018 and further advance to deliver a CAGR of 3.12% during the stated forecast period. With several defense ministries across the globe aiming to improve the cost effectiveness aspect of operations, the requirement for low-cost simulators together with advanced artificial intelligence (AI) is likely to surge during the period between 2018 and 2028. Furthermore, the technology to progress with military training simulators has grown quite affordable, which in turn has caused growth of border patrol simulators and homeland security.
The report initiates with the executive summary and market dynamics that includes demand drivers, key challenges, technological developments and trends. Furthermore, readers can analyze in-depth market share acquired by flight simulators, maritime simulators and combat simulators. According to research specifics, flight simulators will dominate the global military simulation and virtual training market during the forecast period with a share of 53.8%. Geographically, the global military simulation and virtual training market is divided into North America, Europe, Middle East, Latin America, Africa and Asia Pacific. Each of these regions are studied on the basis of market size and CAGR growth analysis.
The purpose of this research report is to update the readers about the ongoing programs that are undertaken by the defense ministries of various countries that are part of the global military simulation and virtual training market. Furthermore, investors can take better business decisions based on thorough analysis of the prevailing competitive landscape with detailed profiles of the prime military simulator providers all over the globe. This includes information about alliances, products, financial analysis and recent contract wins.
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