Next generation training system is an innovative functional training system that integrates all parts of human movement. Global next generation training system market is expected to grow at a high CAGR during the forecast period of 2017 – 2025.
Based on product types, the next generation training systems market is segmented into virtual, live, gaming simulation and constructive. Among various product types, in 2016, the live segment dominated the next generation training systems market and is expected to be the same during the forecast period of 2017 – 2025. Increasing demand of live segment in developing countries of Asia Pacific and Europe such as India, China, Japan, France and Italy among others is expected to boost the market for the next generation training system market during the forecast period of 2017 – 2025.
Based on application, the next generation training systems market is segmented into airborne, ground and naval. Among various applications, in 2016, the ground segment dominated the next generation training systems market followed by airborne and expected to be the same during the forecast period of 2017 – 2025. Growing economies such as India, Brazil, China and Pakistan among others is seeking to boost their force protection capability which in turn is fueling the demand of next generation training systems market, globally.
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One of the major factor driving the market for the market is the rise in the role of ground troops in several parts of the world such as Pakistan, India and France among others. As of 2014, there were 8 active military conflicts and 10 official wars known by the United States.
Based on the geography, the next generation training systems market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. In 2016, North America is expected to be the largest market followed by Europe and expected to be the same during the forecast period of 2017 – 2025. Flight simulators are anticipated to be the major drivers to support growth in the North America next generation training systems market during the forecast period of 2017 – 2025. In 2016, the U.S. is the key market for the next generation training systems market, globally. Moreover, Europe is the second major market for next generation training systemsmarket trailed by Asia Pacific, Middle East & Africa and South America. Asia-Pacific is estimated to witness the highest CAGR among all regions during the estimate period. Developing economies such as China, South Korea and India among others are focusing on the replacement of their old training system with next generation training systems and are also increasing their expenses in the defense sector constantly are some of the major factors boosting the demand of the next generation training system market during the forecast period of 2017 – 2025. Middle East and Africa is expected to grow at a healthy rate during the forecast period of 2017 – 2025. The increasing investing in next generation training systems is one of the major factors contributing to the growth of next generation training systems market in Middle East and Africa during the forecast period. In 2016, Brazil is expected to dominate the Latin America next generation training systemsmarket and expected to be the same during the forecast period of 2017 – 2025
Some of the major players in the Next Generation Training Systemsmarket include are Lockheed Martin Corporation (United States), Northrop Grumman Corporation (United States), L-3 Communications Holdings, Inc. (United States), CAE, Inc. (United States), Thales Group (France).These key players are targeting the emerging economies and are applying several methods to increase their market share. In addition, some of the other major players Rockwell Collins Inc. (United States), Raytheon Company (United States), Rheinmetall AG (Germany) and Cubic Corporation (United States)among others.
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