Military-simulator systems market will be driven by spending in emerging economies, study saysNews
March 01, 2021
LONDON. Market demand for military-simulator systems is anticipated to be driven by high levels of expenditure by emerging economies in the Asia-Pacific region, including India and China, according to a new study by GlobalData, "The Global Military Simulator Systems Market to 2030."
The North American region, buoyed by the U.S. armed forces’ multiyear procurement programs, will take the second spot in terms of spending on military simulator systems, with a steady growth rate over the forecast period.
By segment, the land simulator is expected to be the largest in this market over the study period, with demand for land simulators driven by nations' procurement of land platforms, such Australia’s Land 400 Phase 2 – Boxer CRV, China’s T-15 Light Tank, India’s Arjun MK1-A, Russia’s T-14 Armata, the U.K.’s Athena C2. and the U.S.’s Joint Light Tactical Vehicle (JLTVs). The land-simulator segment is projected to carry a 47.9% revenue share of the total market over the forecast period.
For additional information, visit the GlobalData website.