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.

The major players operating in the global military simulation and virtual training market are Lockheed Martin Corp., Bohemia Interactive Simulations k.s., Meggitt PLC, Raytheon Company, KratosDefense & Security Solutions, Inc., Cubic Corp., and L3 Technologies, Inc. In addition, few key players are focusing on acquisition strategies to boost their presence in the market. Bohemia Interactive Simulations developed an augmented reality (AR) visual system for Textron Inc. that provides support to trainee’s interaction with the real-world using AR/VR technologies.

Research Methodology:

The market study of the global military simulation and virtual training market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports. 

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Authentic public databases such as the US Department of Commerce, International Trade Administration, and others.
• Whitepapers, research-papers and news blogs.
• Company websites and their product catalog.

The report is intended to manufacturers of defense equipment, for overall market analysis, military and defense organizations, government agencies, and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

• Global Military Simulation and Virtual Training Research and Analysis by Simulation Type
• Global Military Simulation and Virtual Training Research and Analysis by Application

The Report Covers:

• Comprehensive research methodology of the global military simulation and virtual training market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Insights about market determinants which are stimulating the global military simulation and virtual training market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.