Technology Trends Driving Military Training Markets with a $12.2 Billion Forecast
The Global Military Simulation and Training Market is projected to grow from $9.2 billion in 2022 to $12.2 billion by 2027, at a CAGR of 5.6%, according to a research report by MarketsandMarkets. This growth is driven by increasing defense spending, advancements in display technologies, and rising geopolitical tensions, particularly in Asia.
Key Market Segments and Growth Drivers
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Military Simulation and Training Industry Outlook and Forecast to 2021
The Military Simulation and Training Market is projected to grow from $10.31 Billion in 2016 to $12.67 Billion by 2021, at a CAGR of 4.20% during the forecast period. Factors, such as increasing political disputes and civil unrest, adoption of virtual training to ensure safety and cost-benefits, and decline in military budgets of developed countries are driving the growth of the market.
Factors,...