Albany, NY -- (ReleaseWire) -- 02/12/2014 -- “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.
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What are the key drivers behind recent market changes?
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 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.
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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.
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