Military Simulation and Virtual Training Market Size to Grow by USD 6.11 Bn, Flight Simulators to be Largest Revenue-generating Product Segment - Technavio

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Oct 04, 2022, 05:45 ET

NEW YORK, Oct. 4, 2022 /PRNewswire/ -- The "Military Simulation and Virtual Training Market by Product (flight simulators, maritime simulators, and combat simulators) and Geography (North America, APAC, Europe, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. By product, the flight simulators segment will be the largest contributor to market growth during the forecast period. This growth is attributed to factors such as the increasing emphasis on virtual boot camps and the rising demand for synthetic training environments. Vendors are collaborating with technological partners to enhance their product offerings, such as multiple simulations and virtual training modules for the military, which is likely to fuel the demand for flight simulators across the world during the forecast period.

Technavio has announced its latest market research report titled Global Military Simulation and Virtual Training Market 2022-2026

The potential growth difference for the military simulation and virtual training market size between 2021 and 2026 is USD 6.11 billion. To get the exact CAGR and the Y-O-Y growth rate, Request a FREE PDF Sample Report

Key Market Dynamics

Market Driver: The cost-effective virtual training is driving the market growth. Real-time training is costly and includes many additional costs on resources. However, virtual training is highly cost-effective. It reduces the risks associated with real-time training. Hence, defense agencies have shifted their focus to simulation and synthetic training methodologies. In addition, the rise in budgets for defense and law enforcement over the last few years has increased the demand for innovative simulation training systems by military and police forces.
Market Challenge: The high cost of training is challenging the growth of the market. There are high operating costs associated with simulators, along with the increase in expenditure on the installation of simulation software. In addition, these simulators require allocated space, trained personnel, and infrastructure. This further increases the overall cost of implementing simulations. Military simulations are very expensive, as they are highly advanced. Moreover, military simulators require various peripheral products such as TV screens and controlling equipment, along with virtual private networks (VPN) and networking infrastructure. These factors are increasing the overall cost of operation.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report

Regional Analysis

North America will be the leading region with 32% of the market's growth during the forecast period. The US and Canada are the key countries for the military simulation and virtual training market in North America during the forecast period.

View our FREE PDF sample report for additional insights into the contribution of all the segments and regional opportunities in the report

Some Companies Mentioned

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.
ZedaSoft Inc.

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Military Simulation And Virtual Training Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.13%
Market growth 2022-2026	USD 6.11 billion
Market structure	Fragmented
YoY growth (%)	4.67
Regional analysis	North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution	North America at 32%
Key consumer countries	US, Canada, China, UK, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	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.
Market Dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Consumer Discretionary Market Reports

Key Topics Covered

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

3.3 Market size 2021

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

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

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

8.4 Market trends

9 Vendor Landscape

9.1 Overview

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

11.1 Scope of the report

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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