Military Simulation And Virtual Training Market To Reach $18.75 Billion By 2030

Military Simulation And Virtual Training Market Growth & Trends

The global military simulation and virtual training market size is expected to reach USD 18.75 billion by 2030, according to a study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.7% over the forecast period. Rising political instability and disputes coupled with the growing adoption of simulators and virtual training methods to safeguard the trainees are expected to drive the market. Rising prices of armed components and environmental concerns are expected to fuel demand for virtual training practices from the defense sector.

Over the past decade, the military simulation & virtual training market is gaining prominence as it is considered as a cost-effective solution for training the armed personnel to ensure their safety. However, the procurement of simulator and virtual training devices is primarily dependent on the purchase of military equipment such as fighter aircraft, tanks, gunneries, submarines, armored vehicles, helicopters, naval ships, and Unmanned Aerial Vehicles (UAVs). The current and future military expenditure is expected to influence the growth of the market from 2023 to 2030.

North America accounted for around 34.9% of global military spending in 2022 and is expected to lead the military simulation and virtual training market over the next few years. This growth can be attributed to the increasing demand and high defense expenditure of countries, such as the U.S. and Canada. However, Asia Pacific is expected to expand at the highest CAGR of 5.0% over the forecast period majorly driven by the increasing investments in the defense sector in countries such as China and India, which accounted for around 17% of the global military spending in 2017.

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Military Simulation And Virtual Training Market Report Highlights

• Flight simulation segment is expected to lead the military simulation and virtual training market over the forecast period owing to high spending in the aero-defense industry

• Air application segment is expected to continue leading over the forecast period due to the wide adoption of flight simulation techniques to reduce the penetration of live training, thus helping the government reduce operating costs

• North America is expected to be the largest regional segment over the forecast period owing to the huge investments in the U.S. defense industry

Military Simulation And Virtual Training Market Segmentation

Grand View Research has segmented the global military simulation & virtual training market based on platform type, application, and region:

Military Simulation And Virtual Training Platform Type (Revenue, USD Million, 2017 - 2030)

• Flight Simulation

• Vehicle Simulation

• Battlefield Simulation

• Virtual Boot Camp 

Military Simulation And Virtual Training Application Type (Revenue, USD Million, 2017 - 2030)

• Ground

• Air

• Naval

Military Simulation And Virtual Training Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  •  U.S.

  • Canada

• Europe

  •  UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• South America

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players Military Simulation And Virtual Training Market

• Northrop Grumman.

• Cubic Corporation

• CAE Inc.

• Aai Corporation

• Collins Aerospace

• Lockheed Martin Corporation.

• BAE Systems.

• L3Harris Technologies, Inc.

• Thales

• Bohemia Interactive Simulations