The manufacturers ensure that the hardware and software integrated within the military synthetic and digital training solution are well matched within their scope of application. To ensure that users (military personnel) get the best possible simulation environment, the companies operating in the vertical are increasing their investment in research and development. Some major technological development within the market encompasses cross-domain simulations and ultra-high-fidelity immersive experience. The market faces several technical and non-technical challenges, such as integrating software and hardware and operations on an open network. However, these are expected to be eliminated over time from the market.
Military Synthetic and Digital Training Solution Industry Overview
The global military synthetic and digital training solution market has been growing rapidly over the past few years due to the rising demand for high-quality and high-fidelity simulators that offer comprehensive cross-domain training environments. Major key companies are acquiring smaller and emerging companies to increase their operational regions in various applications.
Read Report Overview: Military Synthetic and Digital Training Solution Market
The global military synthetic and digital training solution market is estimated to reach $17,385.8 million in 2026, at a compound annual growth rate (CAGR) of 9.45% during the forecast period 2021-2026. The major driving factors for the huge revenues generated by the companies are the growing need for reliable technology for military simulation applications and the increasing demand for cross-domain simulations.
Impact of COVID -19 Military Synthetic and Digital Training Solution Market
The COVID-19 pandemic has accelerated the growth of the military synthetic and digital training solution market. The increasing geopolitical conflicts between nations due to rising cases of COVID-19 and the arms and ammunition escalation race across the globe have generated a demand for combat-ready troops across several nations. Such situations have generated business opportunities for the market. However, limited logistics support and fund allocation toward acquiring new simulation technologies due to COVID-19 have also seized a few business opportunities. Several companies have reported a loss of business and limited their fund toward R&D, which may impact the market in the long run. However, the gradual decline of COVID-19 cases will lead to a more stable ecosystem, opening new business opportunities for the global military synthetic and digital training solution market.
Military Synthetic and Digital Training Solution Market by Application
the global military synthetic and digital training solution market has been segmented based on various immersion application, including combat and personnel training, maintenance, repair and overhaul (MRO) training, leadership and skill assessment, and medical training. The combat and personnel training segment includes various sub-segments such as personnel training, aircraft, vehicle, and vessel. These segments are also further divided into manned and unmanned vehicles. The aircraft segment will witness the highest market share in combat and personal training within the global military synthetic and digital training solution market. The increasing cost of live combat and personnel training and the rising risk of fatal injuries during live training is the primary market driver supporting the usage of military simulators.
Military Synthetic and Digital Training Solution Market by Region
The regions discussed in this report include North America, Europe, Asia-Pacific, and Rest-of-the-World. North America is expected to account for the highest share of the global military synthetic and digital training solution market, owing to a significant number of companies based in the region. The companies based in the North America region often supply international customers in Asia-Pacific, Europe, Middle East, and Africa.
Key Market Players and Competition Synopsis
Airbus S.A.S., Boeing, CAE Inc., ECA Group, General Dynamics Mission Systems, Inc., Indra Sistemas, S.A., Kongsberg, L3Harris Technologies, Inc., Leidos, Leonardo S.p.A., Northrop Grumman, Reiser Simulation and Training (RST), Saab, ST Engineering, Thales Group, The DiSTI Corporation
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The companies profiled in the report have been selected post undergoing in-depth interviews with experts and understanding the details around companies such as product portfolio, annual revenues, market penetration, research and development initiatives, key developments, and domestic and international presence in the military synthetic and digital training solution industry.