The global military simulation and virtual training market are expected to grow at a significant CAGR during the forecast period. The factors responsible for the growth of the global military simulation and virtual training industry include the rise in the adoption of virtual training to ensure the safety of trainees and cost-effectiveness will stimulate market growth during the forecast period. And rapid technological advancements and increasing R&D activities concerning the military simulation and virtual training along with an increase in defense expenditure in emerging economies are expected to offer lucrative opportunities to the market over the forecast period. Besides, the lack of interoperability in the defense system and the high complexity of the simulation system may hinder the market growth.
Also, the simulation-based training offers a technological alternative that resolves the tension between obligations by effectively mitigating the competition between their demands. The simulation-based training uses computer-generated virtual environments to augment or replace portions of the real environment. Also, it reduces the risks to the participants and the environment while reducing overall costs. It also ensures proficiency and readiness are achieved; simulation-based training can better jointly meet the broad scope of obligations faced by training operations.
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Based on the simulation type, the military simulation and virtual training market is segmented into Flight Simulation, Vehicle Simulation, Battlefield Simulation, and virtual Boot Camp Simulation. The flight simulation is expected to register considerable growth in the market during the forecast period. The growth of the flight simulation is attributed to the increased penetration in the commercial and military flight training practices. Also, the high costs of flying an actual aircraft and it also possesses a high risk to the trainee’s life along with a rapid increase in the production cost of aircraft are amongst the key factors that boost the growth of the flight simulator adoption, thus contributing to the market growth.
Further, the key players such as Lockheed Martin Corp., Bohemia Interactive Simulations K.S., Meggitt PLC, Raytheon Company, KratosDefense & Security Solutions, Inc., Cubic Corp., and L3 Technologies, Inc. are contributing in the military simulation and virtual training market growth by adopting several growth strategies. For instance, Bohemia Interactive Simulation manufactured an Augmented Reality (AR) Virtual systems for Textron, Inc., that supports a trainee’s interactions with the real-world using VR/AR technologies and offers a synthetically generated virtual scene.
Current Market Trends Covered in the market report:
The Report Military Simulation and Virtual Training Market - Segmented by Simulation Type, and Application
By Simulation Type
By Application
The Report Military Simulation and Virtual Training Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World