Military Simulation and Training Market worth $12.2 billion by 2027 - PowerPoint PPT Presentation

About This Presentation
Title:

Military Simulation and Training Market worth $12.2 billion by 2027

Description:

The Military Simulation and Training Market size is forecasted to grow from an estimated USD 9.2 billion in 2022 to reach USD 12.2 billion by 2027, at a CAGR of 5.6% during the forecast period. – PowerPoint PPT presentation

Number of Views:2
Date added: 4 April 2022
Slides: 3
Provided by: sandeeproy

less

Transcript and Presenter's Notes

Title: Military Simulation and Training Market worth $12.2 billion by 2027


1
Military Simulation and Training Market
worth 12.2 billion by 2027 The Military
Simulation and Training Market size is
forecasted to grow from an estimated USD
9.2billion in 2022 to reach USD 12.2billion by
2027, at a CAGR of 5.6 from 2022 to 2027.
Increasing defense spending in the world
and new technological developments to help
strengthen military capabilities and efficiency
is expected to drive the market for Military
Simulation and
Training across Increasing tensions across
the globe. geopolitical regions and
overall strengthening activities across the world
is triggering the defense spending
across these regions. This, in turn, is
pushing manufacturers and system component
providers to design and manufacture more high
technology, high resolution, military simulators
for defense personnel to get trained
upon. Download PDF Brochure _at_ https//www.marketsa
ndmarkets.com/pdfdownloadNew.asp?id661 Based on
platform, the land segment of the Military
Simulation and Training market is projected to
grow at the highest CAGR is expected to account
for the largest market share during the
forecasted period. Based on platform, the land
segment is expected to grow at the highest CAGR
of 6.2 during the forecast period. The growth in
demand for military vehicles across the land,
sea, and aerial platforms would drive the
market growth. Several countries are
modernizing their military fleets by inducting
newer generation vehicle platforms. This is
generating a simultaneous demand for
simulation-based training for the military
personnel on these platforms, thereby propelling
the market prospects of the related military
simulators. Based on Application, Aviation makes
the largest share of the market during the
forecasted year. The aviation segment is expected
to have a larger market share in the forecasted
year. This is majorly due to the complexity and
risk involved in aircraft compared to the other
end users. For example, a single mistake by
pilots on board a military aircraft while landing
or take-off will cost the lives of people on
board and result in the loss of sophisticated
military property and compromise the mission.
Such complexity has forced the military
authorities to incorporate simulator-based
training for pilots. Moreover, the increasing
adoption of newer generation aircraft that
incorporate
2
complex technologies in the military may require
training for pilots to familiarize themselves
with the latest equipment and systems. In such
situations, providing hands-on experience may be
difficult due to high-cost involvement. In such
cases, the simulators act as the preferred
option. North America is projected to makes the
largest share of the market during the forecasted
year. The rising orders to replace the old navy
fleet with new ones from the US and Canada and
the rise in export of goods are the major factors
driving the demand for new ship commanders and
crew. This also leads to increased demand for
military training systems. According to Boeing
Technician Outlook 2019, North America is
anticipated to require more than 193,000 aircraft
technicians and maintenance crew between 2019 and
2038. This is anticipated to fuel the demand for
maintenance crew training across the region
during the forecast period. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id661
About MarketsandMarkets MarketsandMarkets
provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will
impact 70 to 80 of worldwide companies
revenues. Currently servicing 7500 customers
worldwide including 80 of global Fortune
1000 companies as clients. Almost 75,000 top
officers across eight industries worldwide
approach MarketsandMarkets for their
painpoints around revenues decisions. Marketsand
Marketss flagship competitive intelligence and
market research platform, "Knowledgestore"
connects over 200,000 markets and entire value
chains for deeper understanding of the unmet
insights along with market sizing and forecasts
of niche markets. Contact Mr.Aashish Mehra
MarketsandMarkets INC. 630 Dundee Road Suite
430 Northbrook, IL 60062 USA 1-888-600-6441
Write a Comment
User Comments (0)
About PowerShow.com