Global Military Training and Simulation Market Assessment
In this research service, it is predicted that despite implementation of defence budget reductions in many countries, the military training and simulation market will increase during the forecast period. The market will have an overall growth as training and simulation activities will be increasingly outsourced to private companies during the forecast period. The United States continues to be the most lucrative market for military training and simulator suppliers, particularly for air platforms. However, the highest percentage growth of the market will be noticed in APAC and the Middle East countries.
The global economic crisis is forcing austerity measures on defence budgets in most European and North American countries.
- Ministries of Defence (MoD) are trying to make military training and simulation (T&S) more efficient, and balance cost savings with the availability of simulators (sim).
- Partnering with industry and outsourcing some aspects of T&S can facilitate training processes and provide some cost savings.
- Overall, the T&S for air platform and naval platform segments represents the highest potential revenues for military T&S sector
- Unmanned systems seem to be a new area of expansion for the T&S industry
- During the study period, Frost & Sullivan predicts total T&S spending to increase by CAGR of 0.9 per cent.
- Frost & Sullivan forecast that cumulative T&S expenditure in the 15 analysed countries will reach $69,056.1 million by 2020.
- The United States will be the biggest T&S spender among the analysed countries. Its defence expenditure on T&S is expected to surpass $47,808.8 million by 2020.
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