USD 12.85 Billion
Military Simulation & Virtual Training Market Size, Share, Growth Analysis, By Application(Land, Naval, and Aerospace Training), By Technology(Live, Virtual, and Constructive Simulations), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2233 |
Region:
Global |
Published Date: May, 1990
Pages:
202
|Tables:
63
|Figures:
75
Military Simulation & Virtual Training Market Insights
Global Military Simulation & Virtual Training Market size was valued at USD 12.85 Billion in 2022 and is poised to grow from USD 13.56 Billion in 2023 to USD 20.81 Billion by 2031, at a CAGR of 5.50% during the forecast period (2024-2031).
Increasing demand for realistic training environments to enhance military preparedness and effectiveness is projected to boost military simulation & virtual training market growth over the coming years. Virtual reality (VR) and augmented reality (AR) technologies and sophisticated simulators are driving the market growth as they mimic real-world combat scenarios perfectly. High demand for cost-effective military training solutions, increasing complexity of modern military operations, and high emphasis on reducing risks to military personnel during training exercises are other market drivers. The COVID-19 pandemic has been a major catalyst for the adoption of virtual training solutions in different military and defense applications thereby creating an opportune scenario for military simulation & virtual training market players.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Aerospace
Fastest Growth
Aerospace
Growth Rate
5.50% CAGR
Global Military Simulation & Virtual Training Market by region
Country Share for North America(%)
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Military Simulation & Virtual Training Market Segmental Analysis
The global military simulation and virtual training market can be studied based on various segments such as technology, application, and region. Based on technology, the market is segmented into live, virtual, and constructive simulations. On the basis of application, the market encompasses land, naval, and aerospace training. On a regional level, the market can be segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis By Technology
VR (virtual reality) technology is extensively used in the military simulation and virtual training market as the demand for immersive and realistic training experiences rises in different military applications. Rising accessibility and affordability of VR technologies allow this segment to hold a prominent market share.
Mixed reality (MR) is projected to emerge as the fastest-growing segment in the global military simulation & virtual training marketplace. The ability of MR to combine virtual and augmented reality to give the best immersive experience is what is projected to boost its demand in the future. The technology is in its nascent stages and as it develops it could significantly boost market growth.
Analysis By Application
Air combat training applications account for a notable military simulation & virtual training market share in the global marketplace. Increasing availability of different virtual air combat training systems and their rising deployment to reduce training costs and ensure personnel safety are factors that allow the air application segment to hold a significant market share.
The naval segment is forecasted to grow at a significant CAGR during the forecast period and create new growth opportunities for military simulation & virtual training market players. Rising adoption of VR and AR training in the naval sector is projected to significantly boost military simulation & virtual training market growth in the long run.
Global Military Simulation & Virtual Training Market by application
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Military Simulation & Virtual Training Market Regional Insights
The massive military spending of countries in the North American region allows it to account for the largest military simulation & virtual training market share in the world. The United States is projected to account for most of the military simulation & virtual training market revenue in this region across the forecast period. The high adoption of advanced technologies in military and defense applications and the presence of key military technology providers such as Lockheed Martin, Northrop Grumman, and L3Harris Technologies, is also driving the market growth in North America.
Military simulation and virtual training demand in Europe allows it to account for the second-largest market share in the world. France, Germany, and the United Kingdom are European countries that are continually increasing their military spending and driving military simulation & virtual training market growth in Europe. Asia Pacific is slated to come up as the fastest-growing market for military simulation and virtual training in the world. This can be attributed to the increasing military and defense budgets of countries such as India, China, South Korea, and Japan. Mounting political tensions and increasing technological proliferation are slated to create new opportunities for military simulation & virtual training companies.
Global Military Simulation & Virtual Training Market by geography
- Largest
- Fastest
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Military Simulation & Virtual Training Market Dynamics
Drivers
- Increased Defense Budgets: mounting political tensions and recent outbreaks of wars in different parts of the world are pushing countries to increase their defense budgets, which in turn, are projected to favor the demand for military simulation & virtual training over the coming years. High demand for low-cost military training is slated to benefit market growth going forward.
- Advancements in Technology: Advancements in technologies such as virtual reality, artificial intelligence, augmented reality, mixed reality, and cloud computing are further improving the scope of application for military simulation & virtual training. Improved training and learning experience via these advancements could also favor market growth.
- Need for Realistic Training Environments: Military organizations around the world need personnel who are trained in the most realistic environment to improve their capability and skills that could give them an edge over their opposition. The easy creation of different virtual scenarios to test and train soldiers could also boost military simulation & virtual training market growth.
Restraints
- High Initial Costs: Military simulation systems are expensive to develop and implement and this is projected to be a major constraint for military simulation & virtual training market growth. High costs of hardware and software to enable virtual training could also discourage organizations from opting for military simulation & virtual training practices.
- Cybersecurity Concerns: Any military training session and data pertaining to it is confidential, virtual simulation systems are connected with different networks to transfer data and interact with other systems, which puts them at risk of cyberattacks and hackers. Ensuring the security of these systems could incur additional costs and further limit market growth potential in the long run.
- Complexity and Training Requirements: Developing a military training simulation task can be a challenging task as they are very complex. Moreover, training individuals to operate and maintain virtual simulation systems could also further restrict military simulation & virtual training market growth over the coming years.
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Military Simulation & Virtual Training Market Competitive Landscape
Technological prowess will play a crucial role in determining the success of any military simulation & virtual training market player around the world. Companies that have experience in developing military equipment such as Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon Technologies Corporation will have an edge over other market players. New companies and start-ups will have the chance to penetrate the market by creating solutions and systems that target specific training needs. Mergers, partnerships, and collaborations with government organizations will also allow companies to maximize their business potential over the coming years. Innovation in simulation technologies such as AR, VR, and MR will be elemental to the success of any military simulation & virtual training company. military simulation & virtual training providers can also aim at acquiring government contracts and defense projects to boost their market growth in the long term. military simulation & virtual training companies can also study different military projects to enhance their offerings and stand out from the competition.
Top Player’s Company Profiles
- Lockheed Martin Corporation - USA
- BAE Systems plc - United Kingdom
- Thales Group - France
- CAE Inc. - Canada
- Elbit Systems Ltd. - Israel
- Boeing Company - USA
- VSTEP - Netherlands
- Raytheon Technologies Corporation - USA
- General Dynamics Corporation - USA
- Kratos Defense & Security Solutions, Inc. - USA
- SAAB Group - Sweden
- Cubic Corporation - USA
- Leonardo S.p.A. - Italy
- Meggitt Training Systems - United Kingdom
- Northrop Grumman Corporation - USA
- Rheinmetall AG - Germany
- Textron Inc. - USA
- Rockwell Collins (now part of Raytheon Technologies) - USA
- L3Harris Technologies, Inc. - USA
- Presagis (formerly CAE's Modeling and Simulation division) - Canada
Recent Developments
- L3Harris Technologies, a leading technology company, announced that it had acquired ForceX Simulation, a virtual reality (VR) and augmented reality (AR) training solutions provider for military applications in January 2023.
- In February 2023, CAE, a renowned Canadian simulation technology company, announced the acquisition of SimCentric. Through this acquisition, CAE strengthened its portfolio of aerospace training simulation offerings.
- In March 2023, Boeing, a leading American multinational organization, announced that it had acquired ForeFlight. The acquired company is known for providing navigation software for commercial as well as military aircraft.
- In April 2023, Kratos Defence & Security Solutions, an IT security provider for defense solutions, announced that it had acquired ASRC Federal, a company that provided training and simulation solutions for the United States Department of Defense.
Military Simulation & Virtual Training Key Market Trends
- Growing Demand for Immersive Training Solutions: Military organizations around the world are looking to make their training more immersive and realistic, which is projected to bolster demand for military simulation & virtual training solutions in the long run. The ability of VR and AR technologies to achieve this allows military organizations to opt for military simulation & virtual training solutions and thereby boost market growth as well.
- Shift Towards Network-Centric Training: Training and simulation exercises involving different groups of personnel from different branches of the military allowed organizations to opt for a network-centric training approach. Improved collaboration and coordination through these exercises will favor military simulation & virtual training market development in the long run.
- Focus on Cost-Efficiency and Sustainability: Organizing a training session in the real world can be a capital-intensive task and this is why military organizations are opting for military simulation & virtual training as it allows them to save costs and reduce risks in training procedures. Equipment wear and tear, added fuel costs, and logistical expenses can be eliminated by the use of military simulation & virtual training. Added environmental benefits also favor military simulation & virtual training adoption.
Military Simulation & Virtual Training Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, the global military simulation & virtual training market is forecasted to be driven by increasing defense budgets of countries around the world. Technological advancements and the growing need for cost-effective and realistic training solutions in different military organizations are also estimated to benefit market growth in the long run. However, the high costs of deployment and cybersecurity concerns associated with military simulation & virtual training solutions could impede military simulation & virtual training market growth going forward. North America is projected to account for a dominant market share across the forecast period. The surging adoption of artificial intelligence, augmented reality, virtual reality, and other technologies to improve the military training experience will create new growth opportunities.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.85 Billion |
| Market size value in 2031 | USD 20.81 Billion |
| Growth Rate | 5.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Military Simulation & Virtual Training Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Military Simulation & Virtual Training Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Military Simulation & Virtual Training Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Military Simulation & Virtual Training Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Military Simulation & Virtual Training Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Military Simulation & Virtual Training Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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