TMCnet News
Global $17.38 Military Synthetic and Digital Training Solution Market to 2026 - Partnership Opportunities with Telecom and AR/VR ManufacturersDUBLIN, Sept. 8, 2021 /PRNewswire/ -- The "Military Synthetic and Digital Training Solution Market - A Global and Regional Analysis: Focus on Application, Immersion Technology, Component, Business Model, Type and Country - Analysis and Forecast, 2021-2026" report has been added to ResearchAndMarkets.com's offering. 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. Military Synthetic and Digital Training Solution Market 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. 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 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 siulators that offer comprehensive cross-domain training environments. Major key companies are acquiring smaller and emerging companies to increase their operational regions in various applications. Market Segmentation 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 applications, 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. Key Market Players and Competition Synopsis 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. Key Questions Answered in the Report
Industry Outlook
Market Dynamics Business Drivers
Business Challenges
Business Opportunities
Key Market Strategies and Developments
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/twfkun Media Contact: Research and Markets View original content:https://www.prnewswire.com/news-releases/global-17-38-military-synthetic-and-digital-training-solution-market-to-2026---partnership-opportunities-with-telecom-and-arvr-manufacturers-301371282.html SOURCE Research and Markets |