The flight simulators segment of the simulation and virtual training market is expected to grow at a CAGR of 3.72%, according to a new report from Strategic Defence Intelligence (SDI).
Titled “The Global Military Simulation and Virtual Training Market 2016–2026”, the report forecasts the flight simulators segment to grow due to major training programmes being undertaken by armed forces across the world.
Environmental issues and high-energy prices are driving militaries across the world to eliminate live training programmes, which is in turn contributing to the growth of simulator and virtual training industry.
The industry is divided into three main segments, flight simulators, maritime simulators and combat simulators. Flight simulators constitute a major share of the market at 59.2% followed by maritime simulators at 20.7% and combat simulators at 20.1%.
Some of the flight simulator procurement programmes being undertaken globally include US Air Force’s Training Systems Acquisition III, Australia’s Joint Project 3028 Phase 1 and Helicopter Aircrew Training System (HATS), and the UK Military Flying Training Systems (UKMFTS) programme. The F-35 aircraft programme is also expected to drive growth in this segment.
SDI further estimates the market for military simulation and virtual training to be valued at $17.7bn by 2026.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData