Military simulators' focus on training and safety to propel market by 55% by 2030, study saysNews
December 10, 2020
LONDON. The global military-simulator systems market is anticipated to grow by 55% in 2030, as compared to the current year’s market value, according to a new study from GlobalData, "The Global Military Simulator Systems Market 2020-2030."
Militaries are increasingly bringing simulators into their training programs to cut down various operating costs associated with the training involved with real equipment. Moreover, many governments are planning to shift most pilot training to simulators.
The study authors found that this market will be driven primarily by the increased modernization of armed forces around the globe, in addition to the introduction of increasingly sophisticated advanced platforms used by militaries around the globe. Data from the study reveal that demand for military-simulator systems will likely be driven by high levels of expenditure by emerging economies in the Asia-Pacific region, including India and China; second in global spending will be the North American region, supported by the U.S. military's multiyear procurement programs.
The research found that market growth is anticipated to be dominated by the land simulator segment: This segment of the market is the fastest-growing in major countries including the U.S., at 8% growth, to India (6.6%) and South Korea (1.8%). Additionally, nations' defense departments are expected to invest heavily in the procurement of rotorcraft, aircraft, and unmanned aerial vehicles (UAVs) during 2020-2030; such investmentst will further increase the need for simulators.
For more information on this study, visit the GlobalData website.