The global military simulation and virtual training market is estimated to grow at a considerable CAGR during the forecast period. The adoption of simulation-based training techniques is increasing to ensure safety and cut down training costs. The simulation-based training is essential to improve preparedness and responsiveness in war theatres and critical settings by facing complex situations which is crucial for the success of the mission where the ability to take the right decision at the right time is required. Moreover, the rising need for low-cost simulators having advanced artificial intelligence (AI) is expected to boost the growth of the market. The major factors driving the market are increasing investments in simulations by various governments in order to provide a better and safe training environment. Moreover, the adoption of virtual training to ensure cost-effectiveness and reduction in military budgets in developed countries are also contributing to the growth of the market.
The market is segmented on the basis of simulation type and application. By application, the market is segmented into air, naval and land. By simulation type, the market is segmented into flight, vehicle, battlefield, and virtual boot camp. In the application segment, the land segment is expected to grow in the near future due to rising investment in ground military equipment. Geographically, the global military simulation and virtual training market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The major share of the market is held by the US owing to a large number of players and increasing investments in simulations. This region has the highest military simulator utilization rate and this rate is expected to grow further. Moreover, increasing emphasis on AI is expected to help the market grow further.
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Market Coverage
- Market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Military Simulation and Virtual Training Market Segmentation
By Simulation Type
- Flight Simulation
- Vehicle Simulation
- Battlefield Simulation
- Virtual Boot Camp Simulation
By Application
- Air
- Naval
- Land
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- BAE Systems PLC
- Bohemia Interactive Simulations k.s.
- CAE, Inc.
- CAL-TEK Srl
- Collins Aerospace (A United Technologies Company)
- Cubic Corp.
- FAAC, Inc.
- Fidelity Technologies Corp.
- General Dynamics Information Technology, Inc.
- Kratos Defense & Security Solutions, Inc.
- L3 Technologies, Inc.
- Lockheed Martin Corp.
- Meggitt PLC
- Northrop Grumman Corp.
- Raytheon Company
- Rheinmetall AG
- Saab AB
- Thales Group
- The Boeing Company
- VirTra, Inc.
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