Police and Military Simulation Training Market - 36% of Growth to Originate from North America|Cost-effective Virtual Training to Boost Market |17000+ Technavio Reports

PR Newswire
Wednesday, January 19, 2022 at 7:00am UTC

Police and Military Simulation Training Market - 36% of Growth to Originate from North America|Cost-effective Virtual Training to Boost Market |17000+ Technavio Reports

PR Newswire

NEW YORK, Jan. 19, 2022 /PRNewswire/ -- The Police and Military Simulation Training Market is set to grow by  USD 3.65 billion between 2020 and 2025, accelerating at a CAGR of 5.41% as per the latest report by Technavio. The market is segmented by product (flight, combat, and maritime) and geography (North America, APAC, Europe, MEA, and South America). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.

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Key takeaways from Police and Military Simulation Training Market study

  • Police and Military Simulation Training Market size to increase by USD 3.65 billion at a CAGR of 5.41% between 2020 and 2025
  • 3.96% year-over-year growth in 2021
  • 36% market growth to originate in North America during the forecast period
  • Dominant vendors include Arotech Corp., Ascent Flight Training Holdings, BAE Systems Plc, CAE Inc., Cubic Corp., and others

Police and Military Simulation Training Market: Revenue Generating Segment

The police and military simulation training market share growth by the flight segment will be significant for revenue generation. To train pilots of military aircraft, flight simulators such as full-flight (FFS) and flight simulation training devices (FSTD) are used. These are the replica of the airplane cockpit and controls inside the cockpit respectively, which enhances training and the pilot's flying and cueing skills. The rising procurement of both fixed-wing and rotary-wing aircraft and up-gradation of existing fleet and delivery of military aircraft will drive the growth of this segment of the market in focus during the forecast period.

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Police and Military Simulation Training Market: Growth Drivers and Restraints

Cost-effective virtual training is one of the primary factors leading the global police and military simulation training market growth. The growth is attributed to virtual training as it reduces the supplementary cost of resources including the costs associated with fuel for military platforms, procurement of training ammunition, and operational costs. The minimization of risks associated with real-time training ( personnel, equipment, and devices ) and increased budget allocation for defense and law enforcement will further stimulate the demand for innovative simulation training systems. Moreover, the utilization of an architecture based on commercial-off-the-shelf (COTS) components will reduce the development costs of customized equipment, which, in turn, will boost the growth of the market in focus.

However, the major challenge to the global police and military simulation training market will be the high investment required for simulation systems. Lack of well-developed infrastructure and space for simulators installation, trained personnel, maintenance staff, and other overhead expenses will impede the growth of the market in focus. The simulator units are expensive, costing a few million, excluding the certification cost for which training academies have to apply individually. Moreover, the cost of movement of trainees and the requirement of network and communication technology are other challenges to the vendors. The complicated certification process and heavy costs may also obstruct the growth during the forecast period.

The Police and Military Simulation Training Market report answers questions such as:

  • Is the market structure fragmented or concentrated?
  • What was the market size in 2021 and the forecast of the Police and Military Simulation Training Market through 2025?
  • Which are the best segment areas to invest in over the forecast period?
  • What is the market share of dominant and strong vendors in the Police and Military Simulation Training Market?
  • What are the latest trends and regulatory frameworks in the Police and Military Simulation Training Market?

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Police And Military Simulation Training Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.41%

Market growth 2021-2025

USD 3.65 billion

Market structure

Fragmented

YoY growth (%)

3.96

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

North America at 36%

Key consumer countries

US, UK, China, Germany, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arotech Corp., Ascent Flight Training Holdings, BAE Systems Plc, CAE Inc., Cubic Corp., L3Harris Technologies Inc., Lockheed Martin Corp., Meggitt Plc, Northrop Grumman Corp., and Raytheon Technologies Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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