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Budget Stabilisation and Renewed Spending to Revive Global Military Training and Simulation Market Finds Frost & Sullivan - Merger and acquisition activity, product portfolio diversification and augmented training solutions key to remain competitive - Defense.Frost.com
Budget Stabilisation and Renewed Spending to Revive Global Military Training and Simulation Market Finds Frost & Sullivan

 

PRZOOM - /newswire/ - London, United Kingdom, 2014/07/15 - Merger and acquisition activity, product portfolio diversification and augmented training solutions key to remain competitive - Defense.Frost.com.

   
 
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The global military training and simulation (T&S) market has been witnessing a downtrend, as a result primarily due to the sequestration on the United States Department of Defence budget since early 2013. As the US accounts for 68.4 percent of the total military T&S market, its progressive decline has led to an overall negative compound annual growth rate of 0.6 percent at the global level for 2013-2022. Fleet renewal has also slowed down across Western European countries owing to financial constraints.

New analysis from Frost & Sullivan, Global Military Training and Simulation (T&S) Market Assessment, finds that military T&S market revenues are expected to fall slightly from $6.74 billion in 2013 to $6.36 billion in 2022 as the consequence of defence expenditures unsteadiness.

However, defence budgets in the US and Europe are expected to stabilise from 2018 onwards. Military spending and arms races across the Eastern regions, comprising the Middle East, Central Asia and Asia-Pacific, are also expected to increase. These factors will ensure that military T&S market revenues for air, land and naval forces remain steady over the next 10 years. Revenues will be fuelled mainly by the demand for training equipment as training service opportunities will remain relatively restricted in these regions.

"The Western regions, on the other hand, will show a higher demand for military training services as end users prefer outsourcing some or most of their training requirements in the face of stretched budgets as well as decreasing facility and maintenance expenditure," said Frost & Sullivan Aerospace & Defence Industry Analyst Alix Leboulanger. "This trend will take the cumulative market size of military training services up to $19.57 billion for the 2013 2022 period."

The need for comprehensive military T&S solutions will also rise in Asia-Pacific, Latin America and the Middle East. These regions are investing in defence assets and forces, looking to replace fighters, and boosting their maritime defence. Transitioning regions are keen to acquire new, high-end technology systems as well, with notably a growing interest in connected and distributed training. Their on-going modernisation programmes and need to deter any potential foreign aggression will further improve the prospects of military T&S market participants.

"Price is an essential parameter being increasingly considered by market participants, since end users are highly sensitive to both simulation and training equipment lifecycle management costs," observed Leboulanger. "Newcomers from emerging markets are bringing down training equipment prices and commercial companies are leveraging their IT expertise to gain market exposure. This has made leading military T&S providers face an incredibly competitive market."

To cope with those struggles, traditional suppliers could engage in merger and acquisition activity, diversify their product portfolio and service offerings, and in addition focus on augmented training solutions that seem to be stimulating end-user interest. These measures will also help suppliers in the global military T&S market tap the revenue opportunities that emerge over the next 15 years due to armed forces’ evolution and reorganisation.

For more information on this study, please email Edyta Grabowska, Corporate Communications, at edyta.grabowska[.]frost.com.

Global Military Training and Simulation (T&S) Market Assessment is part of the Defence (defense.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Military Naval Vessels and Support in Service Market Assessment, Global Military Fixed-wing Aircraft, and 2013 Global Military Land Vehicles Market Insight. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

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Global Military Training and Simulation (T&S) Market Assessment / MA06-16

 
 
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Budget Stabilisation and Renewed Spending to Revive Global Military Training and Simulation Market Finds Frost & Sullivan

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