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The procurement of simulators is primarily dependent on the procurement of other military equipment such as aircraft, submarines, helicopters, armored vehicles, UAVs, and naval ships. With the market for these systems expected to witness robust expenditure over the forecast period, military simulators will be much in demand. Factors such as internal and external security threats, territorial disputes, and modernization initiatives undertaken by the various armed forces across the world are driving the demand for conventional and unconventional military hardware and software.
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The Military Simulation and Virtual Training Market, valued at US$13.3 billion in 2016, is projected to grow at a CAGR of 2.90% over the 2016-2026 period, to US$17.7 billion by 2026
The market consists of three simulation categories: flight, combat, and maritime. Flight simulators are expected to account for 59% of the global military simulation market, followed by maritime simulators and combat simulators with shares of 21% and 20%, respectively
North America dominates the sector with a share of 36.4%, followed by Europe and Asia Pacific with shares of 25.4% and 25.2%, respectively.
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