The global military simulation and virtual training market is expected to exhibit moderate to strong growth.
Dallas, TX (PRWEB) February 12, 2014
The global military simulation market is expected to exhibit moderate to strong growth over the forecast period according this report which forecasts market growth at a CAGR of 3.48%, primarily driven by procurement of other military equipment such as aircraft, submarines, helicopters, cyber security systems, UAVs and naval ships.
A major factor working in favour of military simulators is their usefulness in cutting costs, especially during a phase of budget cuts. Significant spenders include countries in North America, Asia-Pacific and Europe, 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.
Complete report is available at http://www.rnrmarketresearch.com/the-global-military-simulation-and-virtual-training-market-2014-2024-market-report.html.
This report offers detailed analysis of the Global Military Simulation and Virtual Training Market with the identification of market drivers augmenting its provision of historic and forecast data for the next decade. Together with its investigation of the developments and challenges in the industry, analysis of key markets, major programs, and the competitive landscape, along with SWOT analysis of the industry as a whole, this report should be considered the definitive informational resource for those with a stake in the global government biometric systems market seeking to secure growth whilst minimizing risk.
To capitalize on the opportunities presented by market growth, organizations with a vested interest in the global military simulation and virtual training market must remain sensitive to the key drivers of the market, thereby facilitating informed business decisions that maximize profits with minimized risk.
Key Market Drivers:
- The defense ministries around the world are taking significant cost cutting initiatives across their militaries in order to cope with their reduced financial resources.
- Governments are downsizing their militaries and cutting down on training budgets. As a result, militaries are currently focusing on attaining cheaper and more effective solutions for their training requirements.
- Many countries have claimed to have reorganized their militaries, so that they are smaller but more powerful, they intend to achieve the same through innovative simulation and virtual training systems. Governments consider live training programs to be expensive and logistically difficult, whereas simulators are a more cost effective and agile alternative.
This report offers detailed analysis of the market for the global military simulation and virtual training market over the next decade.
- Facilitates clear understanding of market opportunities and entry strategies to gain or grow market share in the global military simulation and virtual training market.
- Provides a comprehensive understanding of the competitive landscape of the market, including key domestic and foreign defense companies, key alliances, and strategic initiatives.
- Offers a clear understanding of market drivers, and actionable insight on forthcoming developments that will shape the landscape of opportunity for the foreseeable future.
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