Command: Modern Air/Naval Operations (formerly Red Pill)
 

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This might take off where DW ended-not only does it (apparently) have a robust naval engine, there's ton to do for the flight simmers as well. I'm not sure if it has a persistent world and/or dynamic campaign, but if so we are talking about months-long deployments (for your ship of choice).

{EDIT} I was under the impression that it was a sim, but no alas, it's more akin to Harpoon or Fleet Command than Dangerous Waters. Still looks interesting.

Quick feature list:

• Powerful, intuitive 3D-globe (Google Earth-style) user interface with multiple map layers
• Aircraft, surface ships, submarines, land units, strategic & space forces are at your disposal
• Extensive, detailed simulation databases modeling faithfully the capabilities & limitations of each asset
• Plenty of scenarios covering multiple historic and hypothetical conflicts, plus an integrated scenario editor
• Tremendous flexibility of scale: From counter-piracy skirmishes to strategic nuclear war
• Detailed modeling of air (including near-space) and naval operations, both surface and underwater, supported by high-quality physics, sensor/EW, terrain and weather, weapon and damage models
• Good modeling of land-based forces (relevant to air/naval/space operations)
• Mine and mine-countermeasure operations
• Nuclear operations (possibly other special-weapon categories)
• Single- and multi-player modes
• Recorder & replay ability