Technological Advancements to Stimulate the Global Military Simulation and Virtual Training Market -2027

October, 2022 Research Report on Military Simulation and Virtual Training Market Research Report.

Market Scenario

Military Simulation And Training Market Size Is Estimated USD 9.2 Billion In 2022 To Reach USD 12.2 Billion By 2027, At A CAGR Of 5.6% From 2022 To 2027 owing to the technological advancements. Military simulation and virtual training are a crucial part of the military operations. The products are sought after by the defense ministries in order to offer training for service personnel in the air, land-based, and naval domains. Military simulation and virtual training allow the forces to improve their operational readiness and support battlefield requirements.

Drivers and Constraints Impacting the Market

Military operations connected to combat operations, medical treatment, unmanned systems, and maintenance enables virtual to take place on different scenarios. This is anticipated to expand the market growth during the forecast period. With the growth in operational readiness coupled with diverse battlefield requirements in the military applications is presumed to propel the market. Moreover, the defense ministers are cutting down military expenses due to reduced financial resources. Governments are also downsizing militaries and cutting down training budgets. The military is thus focusing on optimizing solutions for training requirements which is anticipated to offer opportunities to the military simulation and virtual training market. Also, with the increasing need to upgrade existing equipment and order new equipment is presumed to propel the market growth.

On the flip side, lack of inoperability, lack of incentives, and requirement of high fidelity in order to meet customer needs are some of the major factors considered to inhibit the market growth in the coming years.

Global Military Simulation and Virtual Training Market: Segmental Analysis

The global military simulation and virtual training market have been segmented on the basis of application, platform, and region.

By mode of application, the market has been segmented into flight simulation, vehicle simulation, battlefield simulation, and virtual boot camp. Among these, the segment for flight simulation is extensively used and is anticipated to hold the largest market share during the forecast period.

By mode of platform, the market has been segmented into airborne, ground-based, and naval. Among these, the airborne segment is considered to register the highest CAGR owing to the increasing requirement for border surveillance and battlefield operations.

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Regional Insights

Geographically, the military simulation and virtual training market span across regions namely, Asia Pacific, North America, Europe, South America, and the Middle East and Africa.

Among all the regions, North America is anticipated to dominate the global market during the assessment period owing to the presence of established markets in this region. With the growing investment in research and development activities in this region, there is a noticeable rise in the technological advancement and its adoption, thus propelling the market growth over the review period.

The European region is considered to be the second largest region owing to the increasing investment by the governments in the developing countries.

Industry News

September 11, 2018: At the Naval Air Warfare Center Training Systems Division facility, around 1,300 engineers, support, and scientists personnel help to develop training programs for the air force, army, coast guard, and marine corps as well as many federal, state and local agencies. One of those systems comprises a 3D high simulator which sailor students can train on. Using both the hands on a touchscreen and by sliding one, two or three fingers, students learn how to prepare for a mission, including preparing to launch a torpedo.

Competitive Dashboard

The major players operating the market are Kratos Defense (U.S.), Combat Training Solutions Inc. (U.S.), Meggitt Training Systems (U.S.), BAE Systems (U.K), Israel Aerospace Industries (Israel), Bohemia Interactive Simulations (U.S.), General Dynamics Information Technology (U.S.), Northrop Grumman (U.S.), The Boeing Company (U.S.), Rheinmetall Defence (Germany), and others.