Military training exercises are of utmost importance to defense forces worldwide as the demand for mission-ready armed forces is on the rise. Over the past few years, militaries have been adopting synthetic and digital training solutions that virtually teach trainees to react to real-world conditions, environments, and situations, preparing them for mission both on and off the battlefield. These training solutions enable the force to virtually engage in a comprehensive cross-domain training environment through an ultra-high-fidelity immersive experience. The advancements in simulation technology and the growing requirement of military forces to equip themselves with advanced training solutions are some of the factors driving the global military synthetic and digital training solution.
MARKET SCOPE
The "Global Military Synthetic and Digital Training Solution Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Military Synthetic and Digital Training Solution market with detailed market segmentation by application, immersion technology, component, end user, and geography. The global Military Synthetic and Digital Training Solution market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Military Synthetic and Digital Training Solution market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of application, the market is segmented as Combat and Personnel Training, MRO Training, Medical Training, and Others.
- On the basis of immersion technology, the market is segmented as fully immersed, and partially immersed.
- Based on component, the market is segmented into hardware, and software.
- Based on end user, the market is segmented into ground, airborne, and naval.
MARKET DYNAMICS
Drivers:
- Increasing demand of more advancement in training solutions in military forces around the world
- Non-state threats and hybrid threats such as terrorism
- Rise in the funding from military research agencies
- Development of Cloud computing, Artificial Intelligence and Virtual Reality in Military Synthetic and Digital Training Solution
Restraints:
- High cost of setup and system complexities
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Military Synthetic and Digital Training Solution market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Military Synthetic and Digital Training Solution market in these regions,
IMPACT OF COVID-19 ON MILITARY SYNTHETIC AND DIGITAL TRAINING SOLUTION MARKET
The outbreak of the COVID-19 led to the emergence of lockdown scenarios leading to unprecedented series of border closures across the globe during 2020-2021. This disruption in the global supply chain has left an adverse impact on the defense industry through mid-2021. However, various cross-border conflicts and the necessity of the military to provide adequate advanced training solutions to its personnel in the homeland and border security are creating sufficient demand for Military Synthetic and Digital Training Solutions across the three branches of the military. Moreover, the market for defense-related products such as Military Synthetic and Digital Training Solution is stabilizing with the reopening of the supply chain due to the technological advancement in products and the allocation of defense budgets.
MARKET PLAYERS
The report covers key developments in the Military Synthetic and Digital Training Solution market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Military Synthetic and Digital Training Solution market are anticipated to lucrative growth opportunities in the future with the rising demand for Military Synthetic and Digital Training Solution in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Military Synthetic and Digital Training Solution market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- CAE Inc
- Cubic Corporation
- ECA Group
- General Dynamics Mission Systems, Inc.
- Indra Sistemas, S.A.
- Kongsberg
- Leidos
- Leonardo S.p.A.
- Northrop Grumman Corporation
- Saab AB
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.