The global military simulation market is to show positive growth over the forecast period (2011 – 2021).
London – 2 April 2012 –The global military simulation market, which valued US$3.5 billion in 2011, is projected to grow at a CAGR of 6.75% over the forecast period (2011 – 2021) to value US$6.7 billion by 2021. Demand for military simulators is anticipated to be driven by both internal and external security threats, territorial disputes and modernization initiatives undertaken by armed forces across the world. Perhaps most importantly, demand will be additionally driven by the cost effectiveness provided by military simulators in times when defense budgets are being cut due to the economic difficulties being faced by the key markets including the US and Europe.
The chart below shows the expected military simulation market value during 2011–2021:
London – 2 April 2012 –The global military simulation market, which valued US$3.5 billion in 2011, is projected to grow at a CAGR of 6.75% over the forecast period (2011 – 2021) to value US$6.7 billion by 2021. Demand for military simulators is anticipated to be driven by both internal and external security threats, territorial disputes and modernization initiatives undertaken by armed forces across the world. Perhaps most importantly, demand will be additionally driven by the cost effectiveness provided by military simulators in times when defense budgets are being cut due to the economic difficulties being faced by the key markets including the US and Europe.
The chart below shows the expected military simulation market value during 2011–2021:
Cumulatively, the market for military simulators over the forecast period (2011 – 2021) is expected to value US$53.3 billion. Significant spenders include countries in the North American, Asia-Pacific and European regions, 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. Even though many of the European nations are facing an economic crisis, Europe’s share of the global market is projected to increase over the forecast period due to a shift from actual to virtual training, owing to the resultant cost savings.
Flight simulators are projected to account for the highest proportion of expenditure in the global military simulator market, followed by combat, helicopter and maritime simulators.
The demand for flight simulators is anticipated to be higher than other categories, largely due to an increase in the development and subsequent procurement of aircraft and unmanned aerial vehicles (UAVs). In the context of dangerous missions in Iraq and Afghanistan, governments are now considering the benefits of conducting military operations through UAVs in order to minimize the loss of life.
Demand for technology innovations in military simulators forecast to be on the rise
In order to increase the capabilities of modern military simulators, the global defense industry is investing significantly in R&D which has led to the development of technologies to enhance the stealth tracking capabilities and realistic image projection of the various types of military simulators. Current innovations are oriented towards making simulators as close as possible to the environments they represent. The US is developing the Collimated Display System which offers improved display performance over traditional products. The US is also developing an IED training simulator that simulates the same physical environment in which bombs may be found.
Global military simulator manufacturers are looking to venture into joint R&D programs and licensing agreements
The global financial crisis has reduced military expenditure worldwide, as a consequence of which a significant number of countries are establishing joint projects in order to share R&D costs. Partnerships between defense firms have also increased, as a significant number of countries are investing in the development of their domestic military simulator development capabilities by establishing strategic alliances and licensing agreements with global military simulator manufacturers. Examples of such joint ventures (JVs) and licensing agreements include Microsoft licensing its technology to Lockheed Martin in order to enable customers to create a virtual training space without developing the databases to train. Additionally, Scalable Display Technologies signed a licensing agreement with NEC Display Solutions, to enhance the distributorship and technologies of its products.
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Flight simulators are projected to account for the highest proportion of expenditure in the global military simulator market, followed by combat, helicopter and maritime simulators.
The demand for flight simulators is anticipated to be higher than other categories, largely due to an increase in the development and subsequent procurement of aircraft and unmanned aerial vehicles (UAVs). In the context of dangerous missions in Iraq and Afghanistan, governments are now considering the benefits of conducting military operations through UAVs in order to minimize the loss of life.
Demand for technology innovations in military simulators forecast to be on the rise
In order to increase the capabilities of modern military simulators, the global defense industry is investing significantly in R&D which has led to the development of technologies to enhance the stealth tracking capabilities and realistic image projection of the various types of military simulators. Current innovations are oriented towards making simulators as close as possible to the environments they represent. The US is developing the Collimated Display System which offers improved display performance over traditional products. The US is also developing an IED training simulator that simulates the same physical environment in which bombs may be found.
Global military simulator manufacturers are looking to venture into joint R&D programs and licensing agreements
The global financial crisis has reduced military expenditure worldwide, as a consequence of which a significant number of countries are establishing joint projects in order to share R&D costs. Partnerships between defense firms have also increased, as a significant number of countries are investing in the development of their domestic military simulator development capabilities by establishing strategic alliances and licensing agreements with global military simulator manufacturers. Examples of such joint ventures (JVs) and licensing agreements include Microsoft licensing its technology to Lockheed Martin in order to enable customers to create a virtual training space without developing the databases to train. Additionally, Scalable Display Technologies signed a licensing agreement with NEC Display Solutions, to enhance the distributorship and technologies of its products.
To purchase the full version of ‘The Global Military Simulation and Virtual Training Market 2011–2021’, please click here.
About Industry Review:
Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.
We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.
The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.
With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.
For more information, please visit our website at www.industryreview.com
For more information on the article, please contact:
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