The critical importance of simulation-based training can be attributed to growing safety and security concerns across the world. The use of simulation in defense personnel training greatly reduces the training costs and increases the pilot and vehicle operator's efficiency on different aircrafts and vehicles. Rising geo-political tensions in several regions worldwide are creating a strong growth prospects for military vehicles and aircraft simulations and aircraft simulations market. Furthermore, majority manufacturers are focusing on advancement of simulation technology, such as more realistic virtual models and environment, which is expected to accelerate the market growth.
MARKET SCOPE
The "Global Military Vehicles and Aircraft Simulations 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 vehicles and aircraft simulations market with detailed market segmentation by type, platform, application, and geography. The global military vehicles and aircraft simulations market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading military vehicles and aircraft simulations market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis type, the market is segmented as Aircraft Simulator (Jet Aircraft, Helicopter, UAV), Military Vehicle Simulator (Tank, Light Military Vehicle, Combat and Gunnery, Others)
- On the basis of platform, the market is segmented into PC, VR device, Dedicated Simulation Systems.
- On the basis of application, the market is segmented as Operations Training, Maintenance Training, Flight Simulation, Combat Training (Air Combat and Ground Combat), Boom Operator Training, Others
MARKET DYNAMICS
Drivers
o Growing incidents of security breaches due to cross-border conflicts
o Increasing illicit activities across the globe and defense organizations' efforts to keep a check on these activities
o Rising adoption of unmanned autonomous vehicle adoption by ground forces of several countries
Restraints:
o High research and development expenses for developing countries
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 vehicles and aircraft simulations 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 vehicles and aircraft simulations market in these regions.
IMPACT OF COVID-19 ON MILITARY VEHICLES AND AIRCRAFT SIMULATIONS MARKET
Major defense industry players saw a disruption in the supply chain due to the shutdown of industrial facilities and restrictions on transit between nations at the onset of the COVID-19 pandemic. For instance, BAE systems experienced delays in procurement on the industry side, along with delayed requests for proposals from the government. However, several defense projects gradually opened up owing to the dire need of the governments to ensure a strong defense force. For example, the US government infused $4.6 billion into the defense-industrial base between the start of the pandemic and Jan. 31, 2021. Moreover, the defense budget of major economies remained unaffected in 2021 as the geopolitical conflicts are on the rise and airborne warning and control systems provide strengthened air defense support. This can be seen in the rise of Indian government's defense budget by 10%, totaling US$ 70.2 billion for 2022-23. Therefore, the impact of COVID-19 pandemic was initially negative on the market due to disruptions in the global supply chain, and the market is starting to gain momentum in 2021 as governments are readily investing in essential defense projects.
MARKET PLAYERS
The report covers key developments in the military vehicles and aircraft simulations 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 vehicles and aircraft simulations market are anticipated to lucrative growth opportunities in the future with the rising demand for military vehicles and aircraft simulations in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the military vehicles and aircraft simulations 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.
- CM Labs
- ECA GROUP
- FAAC Incorporated
- Rheinmetall AG
- Thales Group
- The AnyLogic Company
- The DiSTI Corporation
- Virtual Reality Media a.s.
- Zen Technologies Limited