According to the research report titled ‘Global Military Simulation and Training Market Size study, by Application (Airborne Simulation, Naval Simulation, Ground Simulation), Training Type (Live Training, Virtual Training, Constructive Training, Gaming Simulation Training) and Regional Forecasts 2020-2027’, available with Market Study Report, global military simulation and training market was worth USD 11.72 billion in 2019 and is projected to expand at 4.39% CAGR to be remunerated at USD 16.53 billion by the year 2027.
 

Emphasis on reducing spending on conventional training methods is primarily driving global military simulation and training market growth.
 

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For those unfamiliar, military simulation and training programs are used to provide training for military warfare techniques and systems for usage and maintenance. The method is both time and cost efficient. It is used as an effective tool for workforce training to acquaint staff with new strategies and methods, to implement and measure new approaches, and to increase the effectiveness of new weapons.
 

Military simulation and training aid in creation of a simulated environment in which immediate and real responses can be produced for a variety of scenarios, as well as the handling of complex armaments without the need to physically using them.
 

Mounting procurement of new defense equipment, and strengthening of military forces across the globe are augmenting worldwide military simulation and training industry share. Citing an instance, the Government of Australia awarded a local company a contract for a mobile arms training simulator in September 2020, with the aim of boosting domestic defense potential.
 

Despite the promising trajectory of worldwide military simulation and training industry, lack of interoperability and networking is likely to hamper the business expansion over the study period.
 

Based on the regional terrain, North America holds a considerable portion of global military simulation and training market share presently, creditable to growing acceptance of technology, and well-established defense infrastructure in the region.
 

On the other hand, Asia Pacific military simulation and training industry is expected to gain traction over the coming years, owing to rising modernization in military, and growing defense expenditure.
 

Leading organizations in global military simulation and training market sphere are BAE Systems plc, Rheinmetall AG, Cubic Corporation, Rockwell Collins Inc., Raytheon Company, L-3 Communications Holdings Inc., Thales Group, CAE Inc., Northrop Grumman Corporation, and Lockheed Martin Corporation.