Military Simulation and Virtual Training Market Trends

  • Report ID: 2639
  • Published Date: Oct 16, 2024
  • Report Format: PDF, PPT

Military Simulation and Virtual Training Market Trends

Growth Drivers

  • Growing Need for Simulation And Training Backed By The Increasing Deployment of Advanced Warfare Machines
    Several nations around the globe are increasingly spending to equip themselves with advanced warfare machines as a safety measure for the security and integrity of their nation. These advanced military machines require proper training of the military personnel for its efficient use during a military warfare or during any emergency. As a result, there is an increasing need amongst the nations to train their military personnel with modern and advanced machines, which is anticipated to drive the growth of the global military simulator and virtual training market during the forecast period.
  • Increasing Concern for the Cost and Feasibility of Practical Training of Military Personnel
    Several machines that are deployed with the military require user-specific training and skillset for operating these machines. But the challenges that lie ahead with the training of the personnel for such machines, especially the cost of training and the feasibility of setting up a practical scenario for the training, are some of the factors that is raising the need for the deployment of computerized simulators and virtual training solutions. These virtual setups are generally deployed in training centers that are designed specifically with a one-time expenditure for long term use and therefore the plan significantly reduces the training cost of nations. Moreover, these virtual simulators are also take up less space as compared to that of a practical field set up and can be also set up indoors in a controlled environment, therefore providing the trainer greater control on the level of training required for the trainees. The trainer can also set the level of training to basic, intermediate, or pro, depending on the requirement at that moment. Such factors are anticipated to drive the growth of the global military simulator and virtual training market over the forecast period.

Challenges

  • Continuous Advancements in Technology
    Technology is a dynamic subject of interest and the advancements take place daily, whether small or big. As a result, several challenges lie ahead with the developers of the virtual simulators as at times, the addition of the new advanced feature to the existing old system might not be supported. On the other hand, most of these systems work on advanced technologies, such as artificial intelligence and machine learning, and most of these systems also utilize the internet to access the updated training modules or any system updates, therefore paving a path for a cyber-attack or any other related crimes, which is also anticipated to hamper towards the growth of the global military simulator and virtual training market over the forecast period.

Military Simulation and Virtual Training Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

4.8%

Base Year Market Size (2023)

USD 13.26 billion

Forecast Year Market Size (2036)

USD 24.39 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Dhruv Bhatia


  • Report ID: 2639
  • Published Date: Oct 16, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of military simulation and virtual training is estimated at USD 13.77 billion.

Military Simulation and Virtual Training Market size was valued at USD 13.26 billion in 2023 and is likely to cross USD 24.39 billion by 2036, registering more than 4.8% CAGR during the forecast period i.e., between 2024-2036.

North America industry is predicted to hold largest revenue share by 2036, on account of favorable government initiatives and the availability of advanced military infrastructure in the region.

The major players in the market are Northrop Grumman Corporation, Thales Group, Cubic Corporation, CAE Inc., Elbit Systems, Rockwell Collins Inc., BAE Systems, Bohemia Interactive Simulations, Lockheed Martin Corporation, L3 Link Training & Simulation, and others.
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