Military Simulation and Training Market
Military Simulation and Training Market
The report offers detailed segmentation of the global military simulation and training market based on training type, application, and region.
PORTLAND, OR, US, February 5, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Military Simulation And Training Market by Application and Training Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global military simulation and training market was valued at $11.56 billion in 2020, and is projected to reach $20.58 billion by 2030, registering a CAGR of 6.2%. North America was the highest revenue contributor, accounting for $4.24 million in 2020, and is estimated to reach $8.03 billion by 2030, with a CAGR of 6.9%.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A14172
Increase in territorial conflicts worldwide has led to the growth in defense expenditure, which in turn, drives the growth of the global military simulation and training market. However, high costs associated with military simulation and training services & products restrain the market to some extent. On the other hand, contracts & agreements with military forces and defense modernization present new opportunities in the upcoming years.
The defense equipment industry comprises thousands of small and medium-sized companies that are financed by the government. Attributed to adverse economic conditions triggered by the pandemic, several manufacturers have shifted their focus on keeping essential operations (due to project delays) running and helping the government in fighting against a unique set of challenges. The projects pertaining to technology developments and modernization programs are witnessing significant delays in timelines and a major cut in spending. This is anticipated to impact the efforts regarding the procurement of military simulation and training for military personnel in the coming years.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/military-simulation-and-training-market/purchase-options
Based on application, the airborne simulation segment held the largest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 6.6% from 2021 to 2030. The report also discusses segments including naval simulation and ground simulation training.
The growth of the global military simulation and training market is driven by surge in demand for simulation based training platforms for operational effective training activities. Moreover, changing geopolitical situations are creating security and defense concern for majority of the leading economies across the globe. For effective defense operations, military personnel are required to be trained in a more effective to operate modern battlefield systems and ammunitions. Military simulation and training solutions provide effective set of training activities along with cost-effectiveness, which notably contribute toward the growth of the global market. Moreover, rise in defense budget and increase in territorial conflicts are expected to support the market growth during the forecast period.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
𝐒𝐀𝐀𝐁 𝐀𝐁, 𝐑𝐚𝐲𝐭𝐡𝐞𝐨𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬, 𝐋𝐨𝐜𝐤𝐡𝐞𝐞𝐝 𝐌𝐚𝐫𝐭𝐢𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐈𝐬𝐫𝐚𝐞𝐥 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐋𝐭𝐝., 𝐂𝐀𝐄, 𝐈𝐧𝐜., 𝐌𝐞𝐠𝐠𝐢𝐭𝐭 𝐏𝐋𝐂, 𝐓𝐡𝐚𝐥𝐞𝐬 𝐆𝐫𝐨𝐮𝐩, 𝐍𝐨𝐫𝐭𝐡𝐫𝐨𝐩 𝐆𝐫𝐮𝐦𝐦𝐚𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐓𝐞𝐱𝐭𝐫𝐨𝐧 𝐈𝐧𝐜., 𝐑𝐡𝐞𝐢𝐧𝐦𝐞𝐭𝐚𝐥𝐥 𝐀𝐆
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 6.9% during the forecast period. The report also discusses regions including Asia-Pacific, Europe, and LAMEA.
In addition, market participants are entering into long-term agreements and contracts with military forces to gain competitive advantage in the global market. North America dominated the military simulation and training market in 2020, owing to surge in adoption of high-end technologies for military training activities in the region. China, India, the U.S., and Germany are expected to serve as the potential market for military simulation and training services, owing to changing geopolitical situations in the country and increase in investment toward defense modernization activities. The global military simulation and training market is a fairly consolidated market with limited number of players holding majority of share.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A14172
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
By application, the airborne simulation segment is expected to register significant growth during the forecast period.
Depending on training type, live training segment is projected to lead the global market in terms of market share by the end of the forecast period.
Region wise, North America dominated the global military simulation and training market in 2020 in terms of market share.
𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
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David Correa
Allied Market Research
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