Cost-effective virtual training will drive growth -Technavio

NEW YORK, March 20, 2023 /PRNewswire/ — The military simulation and virtual training market size is estimated to grow by USD 6.11 billion from 2021 to 2026 at a CAGR of 7.13%, according to Technavio. The market growth will be driven by several factors, including cost-effective virtual training, increasing investments in simulations, and rising collaboration among vendors and OEMs. Virtual training is highly cost-effective. It minimizes the risks associated with real-time training, including personnel and equipment or devices involved. Hence, defense agencies have shifted their focus to simulation and synthetic training methodology. The increased budgets for defense and law enforcement over the last few years have also increased the demand for innovative simulation training systems. To learn more about the military simulation and virtual training market, request a sample report.

Military simulation and virtual training market – Market challenges

The military simulation and virtual training market face certain challenges, including the high cost of training, the growing adoption of automation, and data storage and security issues. The operating costs associated with simulators are high. In addition, the expenditure on the installation of simulation software has increased. These simulators require space, infrastructure, and trained personnel, which further increases the overall cost. Moreover, military simulators need various peripheral products such as TV screens, controlling equipment, virtual private networks (VPN), and networking infrastructure. All these costs add up to the overall cost, which hinders the growth of the market.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

Military simulation and virtual training market – Regional analysis

North America will account for 32% of the market’s growth during the forecast period. The US and Canada are the key contributors to the military simulation and virtual training market in the region. Moreover, market growth in this region will be faster than the growth of the market in Europe. Rising investments by governments in military training, product offerings by vendors, and training models will drive the military simulation and virtual training market growth in North America during the forecast period.

Military simulation and virtual training market insights –

• Vendors: 15+, Including BAE Systems Plc, Bohemia Interactive Simulations ks, CAE Inc., Cubic Corp., Fidelity Technologies Corp., Groupe Gorge SA, HAVELSAN AS, Inveris Training Solutions, Kratos Defense and Security Solutions Inc, L3Harris Technologies Inc., Lockheed Martin Corp., Meggitt Plc, Northrop Grumman Corp., Raytheon Technologies Corp., Rheinmetall AG, Saab AB, Teledyne Technologies Inc., Textron Inc., Thales Group, The Boeing Co., and ZedaSoft Inc.
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Product (flight simulators, maritime simulators, and combat simulators) and geography (North America, APAC, Europe, Middle East and Africa, and South America)

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Military simulation and virtual training market – Vendor Insights

The growing competition in the market is compelling vendors to adopt organic and inorganic growth strategies. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors, including –

• BAE Systems Plc – The company offers military simulation and virtual training, namely AGILE.
• Bohemia Interactive Simulations ks – The company offers military simulation and virtual training such as VBS4, VBS4 Bundle, and VBS Simulation SDK.
• CAE Inc. – The company offers military simulation and virtual training such as CAE Sprint Virtual Reality and CAE 700MR Series.

The military simulation and virtual training market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this military simulation and virtual training market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the military simulation and virtual training market between 2022 and 2026
• Precise estimation of the size of the military simulation and virtual training market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the military simulation and virtual training market across North America, APAC, Europe, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of military simulation and virtual training market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product – Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product – Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Flight simulators – Market size and forecast 2021-2026
• Exhibit 28: Chart on Flight simulators – Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Flight simulators – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Flight simulators – Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Flight simulators – Year-over-year growth 2021-2026 (%)

• 5.4 Combat simulators – Market size and forecast 2021-2026
• Exhibit 32: Chart on Combat simulators – Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Combat simulators – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Combat simulators – Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Combat simulators – Year-over-year growth 2021-2026 (%)

• 5.5 Maritime simulators – Market size and forecast 2021-2026
• Exhibit 36: Chart on Maritime simulators – Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Maritime simulators – Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Maritime simulators – Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Maritime simulators – Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Product 
• Exhibit 40: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 North America – Market size and forecast 2021-2026
• Exhibit 46: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 7.4 APAC – Market size and forecast 2021-2026
• Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 7.5 Europe – Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa – Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 7.7 South America – Market size and forecast 2021-2026
• Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 7.8 US – Market size and forecast 2021-2026
• Exhibit 66: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on US – Year-over-year growth 2021-2026 (%)

• 7.9 China – Market size and forecast 2021-2026
• Exhibit 70: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China – Year-over-year growth 2021-2026 (%)

• 7.10 UK – Market size and forecast 2021-2026
• Exhibit 74: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 7.11 Germany – Market size and forecast 2021-2026
• Exhibit 78: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 7.12 Canada – Market size and forecast 2021-2026
• Exhibit 82: Chart on Canada – Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Canada – Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Canada – Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.3 Impact of drivers and challenges 
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

9 Vendor Landscape

• 9.2 Vendor landscape 
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 92: Matrix on vendor position and classification

• 10.3 BAE Systems Plc 
• Exhibit 93: BAE Systems Plc – Overview
• Exhibit 94: BAE Systems Plc – Business segments
• Exhibit 95: BAE Systems Plc – Key offerings
• Exhibit 96: BAE Systems Plc – Segment focus

• 10.4 Bohemia Interactive Simulations ks 
• Exhibit 97: Bohemia Interactive Simulations ks – Overview
• Exhibit 98: Bohemia Interactive Simulations ks – Product / Service
• Exhibit 99: Bohemia Interactive Simulations ks – Key offerings

• 10.5 CAE Inc. 
• Exhibit 100: CAE Inc. – Overview
• Exhibit 101: CAE Inc. – Business segments
• Exhibit 102: CAE Inc. – Key offerings
• Exhibit 103: CAE Inc. – Segment focus

• 10.6 Fidelity Technologies Corp. 
• Exhibit 104: Fidelity Technologies Corp. – Overview
• Exhibit 105: Fidelity Technologies Corp. – Business segments
• Exhibit 106: Fidelity Technologies Corp. – Key offerings
• Exhibit 107: Fidelity Technologies Corp. – Segment focus

• 10.7 Kratos Defense and Security Solutions Inc
• Exhibit 108: Kratos Defense and Security Solutions Inc – Overview
• Exhibit 109: Kratos Defense and Security Solutions Inc – Business segments
• Exhibit 110: Kratos Defense and Security Solutions Inc – Key offerings
• Exhibit 111: Kratos Defense and Security Solutions Inc – Segment focus

• 10.8 L3Harris Technologies Inc. 
• Exhibit 112: L3Harris Technologies Inc. – Overview
• Exhibit 113: L3Harris Technologies Inc. – Business segments
• Exhibit 114: L3Harris Technologies Inc. – Key news
• Exhibit 115: L3Harris Technologies Inc. – Key offerings
• Exhibit 116: L3Harris Technologies Inc. – Segment focus

• 10.9 Lockheed Martin Corp. 
• Exhibit 117: Lockheed Martin Corp. – Overview
• Exhibit 118: Lockheed Martin Corp. – Business segments
• Exhibit 119: Lockheed Martin Corp. – Key news
• Exhibit 120: Lockheed Martin Corp. – Key offerings
• Exhibit 121: Lockheed Martin Corp. – Segment focus

• 10.10 Raytheon Technologies Corp. 
• Exhibit 122: Raytheon Technologies Corp. – Overview
• Exhibit 123: Raytheon Technologies Corp. – Business segments
• Exhibit 124: Raytheon Technologies Corp. – Key news
• Exhibit 125: Raytheon Technologies Corp. – Key offerings
• Exhibit 126: Raytheon Technologies Corp. – Segment focus

• 10.11 Saab AB 
• Exhibit 127: Saab AB – Overview
• Exhibit 128: Saab AB – Business segments
• Exhibit 129: Saab AB – Key news
• Exhibit 130: Saab AB – Key offerings
• Exhibit 131: Saab AB – Segment focus

• 10.12 Thales Group 
• Exhibit 132: Thales Group – Overview
• Exhibit 133: Thales Group – Business segments
• Exhibit 134: Thales Group – Key offerings
• Exhibit 135: Thales Group – Segment focus

11 Appendix

• 11.2 Inclusions and exclusions checklist 
• Exhibit 136: Inclusions checklist
• Exhibit 137: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 138: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 139: Research methodology
• Exhibit 140: Validation techniques employed for market sizing
• Exhibit 141: Information sources

• 11.5 List of abbreviations 
• Exhibit 142: List of abbreviations

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