Live Laser-Based Training and Simulation Platforms Market To Reach USD 1,791 Million by 2030, Says P&S Intelligence

NEW YORK, March 30, 2023 /PRNewswire/ -- The total revenue generated by the live laser-based training and simulation platforms market will be USD 1,791 million by 2030, growing at a rate of 6.50% in the years to come, as per the recent market research study published by P&S Intelligence.

Flight Simulation Is Major Application

The flight simulation category has the largest share in the industry. This is because of the high risk involved in civil and military aviation, considerable increase in the cost of aircraft production, surge in the expenditure on flying actual aircraft, and high consumption of ATF.

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Flight simulators support aspiring and trained pilots in developing, testing, and maintaining their flying skills, without risking people and for a lot lower expenditure than actual flying, by providing immersive experiences.

Defense and Security Agencies Are Major End Users

The defense and security sector dominated the industry, with an over 28% share, in 2022. This is because of the increasing frequency of battles over natural resources and borders.

In addition, the civil aviation category will grow at a rate of 6.8% in the near future, because of an increase in air traffic, high costs of operation of airplanes, and danger from training on the real thing to both pilots and those on the ground.

North America Provides Live Laser-Based Training Most Extensively

North America has the largest revenue share, of 36%, in the industry. This is because this region has two of the biggest economies, both of which are also prominent in the usage of advanced technologies; and the snowballing investments of the regional governments in R&D.

Furthermore, the considerable increase in the cases of chronic ailments, snowballing consumer consciousness of the early diagnosis of a disease, strong support of governments, and technological enhancements power the acceptance of these solutions in the healthcare sector of the continent.

Rise in Awareness of Cost-Effective Simulation-Based Training

The surge in the awareness with respect to these platforms has brought about their rising acceptance.

This is because of the increasing applications of the virtual training and simulation software in numerous industries, such as aviation, defense and security, entertainment, healthcare, education, energy, mining, and transportation.

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In this regard, the monumental increase in the spending on the military by the U.K., the U.S., Russia, India, China, and Saudi Arabia, to obtain newer and advanced solutions, powers the industry.

This is because better training in life-like simulations of wars has the potential to decrease the death rate in the armed forces during actual battles and even while training with real weapons and explosives.

Live Laser-Based Training and Simulation Platforms Market Segmentation Coverage

Live Laser-Based Training and Simulation Platforms Market Analysis by Component

• Hardware
• Software

Live Laser-Based Training and Simulation Platforms Market Analysis by Application

• Flight simulation
• Battlefield simulation and defense
• Medic training
• Vehicle simulation
• Naval simulation
• Ground simulation

Live Laser-Based Training and Simulation Platforms Market Analysis by End-User

• Defense security
• Civil aviation
• Education
• E-learning
• Game-based learning
• Entertainment
• Healthcare

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SOURCE P&S Intelligence