The Global Military Simulation and Virtual Training Market 2014-2024

Reportstack's latest report on The Global Military Simulation and Virtual Training Systems Market 2014–2024” offers the reader detailed analysis of the global military simulation and virtual training systems market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend

(PRWEB) February 11, 2014

Reportstack has added a new industry research publication on The Global Military Simulation and Virtual Training Market 2014-2024. 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. Governments consider live training programs to be expensive and logistically difficult, whereas simulators area more cost effective and agile alternative. Therefore, militaries are gradually moving towards a balanced mix of live training and simulator training for their forces. For example, Air Force pilots undergo extensive flight training in academies and the live flight training exercises are very expensive. The US Air Force claims to spend approximately US$2.9 million to train a fighter jet pilot and US$600,000 to train an airlift pilot. The militaries are incorporating flight simulators in order to cut down on the live flight training hours which results in significant cost savings. Most of the leading military training and simulation suppliers have recorded significant revenue growth and do not expect any slowdown as their customers continue to look towards simulators as a way to reduce costs, while improving the readiness of their pilots. While much of the growth in the military simulation market has been generated by orders for new simulators, orders for existing equipment upgrades are also contributing to the total market.

What makes this report unique and essential to read?

The Global Military Simulation and Virtual Training Systems Market 2014–2024 provides detailed analysis of the current industry size and growth expectations from 2014 to 2024, including highlights of key growth stimulators. It also benchmarks the industry against key global markets, and provides detailed understanding of emerging opportunities in specific areas.

Key Features and Benefits
The report provides detailed analysis of the market for military simulation and virtual training systems during 2014–2024, including factors that influence why countries are investing or cutting expenditure on military simulation and virtual training systems. It provides detailed expectations of growth rates and projected total expenditure.

Recent years have witnessed an increase in the joint ventures and partnership programs in the simulation and virtual training sector. The countries around the globe are working on several simulation platforms. With the help of joint ventures, these companies have been successful in sharing technological know-how in an endeavor to save cost. The collaborative projects also serve the purpose of significantly reducing the research and development time which is crucial in building military simulation platforms. A significant number of countries are investing in the development of their domestic military simulation industry by establishing strategic alliances and technology transfer agreements with global manufacturers. In addition to improving the indigenous capabilities of a domestic firm, these joint ventures also provides an opportunity to its members to cater to new markets.

Key Market Issues
Historically, military simulators have been applied in narrowly focused contexts to achieve specific sets of goals. If no single system could fulfill the objectives of a given training exercise, a new system was constructed or the objectives of the exercise modified to accommodate the capabilities at hand. The need for interoperability between different military simulation systems is growing as the complexity of modern war fighting rises above the handling capacity of large models. Therefore, the development of consistent model federations has become as important as the development of new (interoperable) models. However, complex military simulation systems belong to the class of model-based information systems, and the principal aspects of such information systems are an abstraction from reality. Various experiments with the high-resolution combat simulation systems and some modules implementing basic command and control functionality have shown that there is a challenge for combining model-based information systems.

The US is the biggest market for military simulation and virtual training in the world, but the current economic crisis is expected to have an adverse impact. After downgrading the US government's credit rating, S&P officials insist that they were accurate in their conclusion that the US will have difficulty getting its deficits under control. Slowing rates of manufacturing growth and weak levels of consumer spending do not bode well for the country’s economic future. Additionally, since the government does not want to increase taxes, budget cuts in various aspects of the economy, including defense, seem to be the way forward including via sequestration. Due to the global economic and financial crisis, increases in military expenditure have decelerated considerably over the last five years. The US and many European countries have reduced their defense budgets for two years in succession: and this is projected to continue in the forecast period. These factors are expected to result in a cut in the defense budgets of major European nations and adversely affect sales for almost all military equipment, including military simulators and virtual training systems. Even though the market is expected to grow for military simulation and virtual training during the forecast period, research and development efforts are expected to be affected as the companies catering to the demand are expected to concentrate more on meeting existing orders than investing on new product inventions.

The companies mentioned in this report are Lockheed Martin Corporation, Boeing, CAE, Saab, L-3 Link Simulation and Training, AAI Corporation, DCNS, Cassidian, Sikorsky Aircraft Corporation, Rockwell Collins, Kratos Defense and Security Solutions, Inc., Teledyne Brown Engineering, Inc., Thales, HAVELSAN, DiSTI, ZedaSoft Inc, Fidelity Technologies Corporation, Alenia Aeronautica, VirTra Systems, Meggitt Training Systems

Other Defense Reports from Reportstack:

The Global Military IT, Data and Computing Market 2014-2024
The Global Military GPS/GNSS Market 2013-2023
Global Military Aviation Industry Trends, Developments and Challenges 2013-2018
The Global Man-Portable Military Electronics Market 2013-2023 - Country Analysis: Market Profile
The Global Military Ammunition Market 2013-2023 - Country Analysis: Market Profile

About Reportstack

Reportstack is one of the leading distributors of market research reports in the world today. Reportstack provides access to over 50,000 company profiles and their strategic information like SWOT analysis, deals and partnerships analysis, merger & acquisition activity and new product launches. Reportstack is also a leader in Aerospace, Military and Defence market research reports.


Contact