LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global military simulation and virtual training market to grow at a CAGR of around 5% during the forecast period, according to their latest market research report.
The increased emphasis on AI for military simulations is one of the major trends being witnessed in the global military simulation and virtual training market 2018-2022. AI has become one of the major technologies that can be used to make decisions owing to the advent of big data and data analytics. AI can be used to integrate Command, Control, Communications, Computers, Intelligence, and Surveillance and Reconnaissance systems (C4ISR) capabilities.
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According to Technavio analysts, one of the key factors contributing to the growth of the global military simulation and virtual training market is the increasing investments in simulation:
Global military simulation and virtual training market: Increasing investments in simulation
There is an increase in the number of investments being made in military simulations as part of the training curriculum. Simulations are realistic computerized scenarios that can be used to depict a real-time scenario and train prospective soldiers. As a result, armed forces across the world are readily shifting to simulation-based and virtual training.
According to a senior analyst at Technavio for research on education technology, “Real-time training is expensive and requires a huge amount of raw materials such as fuel and is also time-consuming with a high degree of risk involved. Thus, defense ministries are increasingly opting for simulation-based games consisting of cloud computing, artificial intelligence, and big data.”
Global military simulation and virtual training market: Segmentation analysis
The global military simulation and virtual training market research report provides market segmentation by product (flight simulators, maritime simulators, and combat simulators), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the flight simulators held the largest market share in 2017, contributing to over 58% of the market. This product segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 38% share. It was followed by EMEA and APAC respectively. However, the increasing demand for innovative and cost-effective military training from APAC and EMEA will drive the growth of the market in these regions.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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