Strategic Defense Intelligence has released a new report that projects the global military simulation and virtual training market to reach $15.8 billion by 2025 from $10.4 billion in 2015.
The report examines what drives the demand and growth for armored vehicles, and examines worldwide spending and modernization trends, ReportBuyer said Oct. 14.
Strategic Defense Intelligence predicts North America will dominate the market, followed by the Asia Pacific and Europe regions.
The report also cites flight simulators, maritime and combat simulators as the three top segments in the military simulation market worldwide.
The trend represents a compound annual growth rate of 4.20 percent over the next 10 years.