The global Military Simulation and Virtual Training market are expected to grow at a significant CAGR during the forecast period. The factors responsible for the growth of the global Military Simulation and Virtual Training industry include the rise in the adoption of virtual training to ensure the safety of trainees and cost-effectiveness will stimulate market growth during the forecast period. And rapid technological advancements and increasing R&D activities concerning the Military Simulation and Virtual Training along with an increase in defense expenditure in emerging economies are expected to offer lucrative opportunities to the market over the forecast period. Besides, the lack of interoperability in the defense system and the high complexity of the simulation system may hinder the market growth.
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Also, the simulation-based training offers a technological alternative that resolves the tension between obligations by effectively mitigating the competition between their demands. The simulation-based training uses computer-generated virtual environments to augment or replace portions of the real environment. Also, it reduces the risks to the participants and the environment while reducing overall costs. It also ensures proficiency and readiness are achieved; simulation-based training can better jointly meet the broad scope of obligations faced by training operations.
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The major players operating in the global Military Simulation and Virtual Training market are Lockheed Martin Corp., Bohemia Interactive Simulations k.s., Meggitt PLC, Raytheon Company, KratosDefense & Security Solutions, Inc., Cubic Corp., and L3 Technologies, Inc. In addition, few key players are focusing on acquisition strategies to boost their presence in the market. Bohemia Interactive Simulations developed an augmented reality (AR) visual system for Textron Inc. that provides support to trainee’s interaction with the real-world using AR/VR technologies.
Global Military Simulation and Virtual Training Market – Company Profiles
- BAE Systems PLC
- Bohemia Interactive Simulations k.s.
- CAE, Inc.
- CAL-TEK Srl
- Collins Aerospace (A United Technologies Company)
- Cubic Corp.
- FAAC, Inc.
- Fidelity Technologies Corp.
- General Dynamics Information Technology, Inc.
- Kratos Defense & Security Solutions, Inc.
- L3 Technologies, Inc.
Global Military Simulation and Virtual Training Market- Segmentation
By Type
- Flight Simulation
- Vehicle Simulation
- Battlefield Simulation
- Virtual Boot Camp Simulation
By Application
- Air
- Naval
- Land
Global Military Simulation and Virtual Training Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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