Military Simulation and Virtual Training Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

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 - 2022-2030
Base year- 2022
Forecast period- 2023-2030
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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