In 2022, the global market for military vehicles and aircraft simulations is estimated to be valued US$ 5.9 billion. The market is estimated to reach US$ 8.4 billion by 2032, expanding at a 7.1% CAGR. More emphasis on lowering the cost of pilot training, as well as growing usage of virtual flight training to maintain aviation safety, are predicted to stimulate sales of military vehicles and aircraft simulation devices.
It is also used to research simulation models in computer experiments. Nowadays, simulation of military vehicles and aircraft is crucial for global high security and safety reasons. Even so, there are many applications for technology simulation, including in video games, instruction, testing, and safety engineering.
Commercial and military trainees can learn faster and master advanced on- and off-road operations, as well as handling hazardous and dangerous circumstances without endangering equipment or personnel, thanks to simulation technology (the simulation of the functioning of a real-world process or system over time).
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Military Vehicles and Aircraft Simulations Market: Drivers & Restraints
To accommodate new generation aircrafts, mission rehearsal and simulation technologies are moving forward along with embed in a variety of military systems to carry out training in reality at reasonable cost. Commercialization of unmanned aerial vehicles is the emerging trend and will give new opportunities to this market.
A fundamental growth driver to the market is growing awareness over the benefits of virtual pilot training. Additionally, demand for trained pilots and crew members, technological advancements, rising demand for air transportation which has further resulted in growing needs for safety and security concerns along with cost advantages are the drivers identified in the military vehicles and aircraft simulations market. Safety regulations and push from the government side is also helping in increasing the degree of awareness among the users.
Military Vehicles and Aircraft Simulations Market: Region-wise Outlook
Depending on geographic regions, global military vehicles and aircraft simulation market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East & Africa. In terms of regions, Europe accounts for the largest market share followed by North America.
Asia Pacific market is projected to register a significant CAGR during the forecast period. Increasing demand for training of pilots and rising demand for air transportation along with technological updates is fuelling the growth of global military vehicles and aircraft simulations market in Asia Pacific. Eastern Europe and Latin America are also forecast to register a significant growth in the global military vehicles and aircraft simulations market, as growing awareness over the pilot training is expected to grow in these regions as well.
Military Vehicles and Aircraft Simulation Market: Key Players
Some of the players identified in the aircraft simulation are FLIGHTRiX (Command Sims Pvt. Ltd.), Presagis (formed through the acquisition of three industry leading companies includes Engenuity Technologies, MultiGen-Paradigm, and TERREX.), Rheinmetall Defence, Alsim, Atlantis System Corp., CAE Inc., Bae Systems PLC, FlightSafety International Inc., Moog Inc., Simteq B.V., Lockheed Martin Corporation, Thales Group, Rockwell Collins, PMDG, Israel Aerospace industries, ATC Flight Simulator, Mechtronix Inc., L-3 Communications Holdings Ltd., among many others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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Military Vehicles and Aircraft Simulations Market: Segmentation
Type:
- Virtual
- Live
- Constructive
- Others
Application:
- Platform
- System and Maintenance
System:
- Flight Simulation
- Non-flight Simulation
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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