Press release
Immersive Technology in Military & Defense Market is anticipated to grow USD 59.37 Billion at a CAGR of 24.5% by 2032
Immersive Technology in Military & Defense Market
Immersive technologies, encompassing virtual reality (VR) and augmented reality (AR), are rapidly transforming the military and defense landscape. These technologies offer a new dimension for training, simulation, and mission planning, creating a more realistic and engaging experience for personnel.
The immersive technology in military & defense market is projected to grow from USD 8.26 Billion in 2023 to USD 59.37 Billion by 2032, exhibiting a CAGR of 24.5% during the forecast period (2023 - 2032).
Market Dynamics
Digitalization advances the concept of network-centric warfare, in which coordination and communication among military forces and resources are seamless and integrated. Immersive technologies such as virtual reality (VR) and augmented reality (AR) are indispensable in this networked environment to ensure that commanders and personnel have access to vital information and can collaborate effectively. As military operations become increasingly digital, robust cybersecurity is vital. Critical infrastructure and sensitive data are safeguarded by the military by means of immersive technology utilized in threat simulation and cybersecurity training.
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Competitive Analysis
Major players in the Immersive Technology in Military & Defense Market, including
• Acer Inc.
• Atheer, Inc.
• AVEVA Group PLC
• Barco NV
• Blippar Ltd.
• Carl Zeiss AG
• CM Labs Simulations Inc.
• EON Reality, Inc.
• FAAC Incorporated
• Google, LLC
• HCL Technologies Limited
• Honeywell International, Inc.
• HTC Corporation
• Immersive Media Company
• Immersive Technologies Pty Limited
• Lockheed Martin Corporation
• Magic Leap, Inc.
• NCTech Limited
• Oculus (Facebook Technologies, LLC.)
• Samsung Group
• Sony Corporation
• Unity Software Inc.
• Varjo Technologies Oy,
• VI-grade GmbH, Zeality Inc.,
are attempting to increase market demand by investing in research and development operations.
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The military and defence sector has witnessed notable technological advancements due to the implementation of immersive technology. Soldiers have the ability to train in immersive environments that closely mimic real-world situations due to the incredibly realistic training simulations provided by virtual reality (VR) and mixed reality (MR) technologies. This increases the efficacy of training while decreasing the risks associated with live training sessions. Integrated augmented reality (AR) heads-up displays (HUDs) for combat helmets furnish personnel in the line of sight with real-time data overlays, target information, and navigation support. This provides expedited and well-informed decision-making on the battlefield and significantly enhances situational awareness.
Market Segmentation
The global Immersive Technology in Military & Defense Market segmentation, based on component includes Hardware (Head-Mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW)), Software/Platform, Services (Professional and Managed).
The global Immersive Technology in Military & Defense Market segmentation, based on technology, includes Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR) and 360 Film.
The global Immersive Technology in Military & Defense Market segmentation, based on application, includes Training & Learning, Emergency Services, Product Development and Sales & Marketing.
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Regional Analysis
In 2022, this market was dominated by the North America Immersive Technology in Military & Defense Market (45.80%). North America is led by the United States, which has a substantial defense budget and a strong interest in military innovation. Innovative immersive technology has been implemented at the forefront of the region for use in operations, simulation, and training.
The market share of Europe Immersive Technology in Military & Defense is ranked second-largest. Encouraged to implement immersive technology for cross-border cooperation and joint military exercises and training, European nations place a significant emphasis on cooperative defense initiatives. Furthermore, the European Union's investments in defence research serve to foster innovation.
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From 2023 to 2032, the Asia-Pacific Immersive Technology in Military & Defense Market is anticipated to expand at the highest CAGR. Military capability investment is impacted by the geopolitical conflicts that unfold in the Asia-Pacific region. Increasing numbers of nations in this region are implementing immersive technologies to bolster military preparedness, fortify border protection, and enhance responsiveness to regional issues.
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