Global Military Simulation and Training Market Size Set to Reach Staggering Value of USD 15.8 Billion by 2030

Published | 24 July 2024

Global Military Simulation and Training Market is flourishing because of expanding defense budgets, modernization of military forces, and a spurring demand for cost-effective and safe training solutions.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Military Simulation and Training Market size at USD 10.9 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Military Simulation and Training Market size to expand at a CAGR of 5.60% reaching a value of USD 15.8 billion by 2030. An increasing focus on defense modernization and the growing need for skilled military personnel are anticipated to drive Global Military Simulation and Training Market. Other major growth factors for the market include rising defense budgets of nations, due to escalating geopolitical tensions and technological advancements to improve military capabilities.

Opportunity - Rising integration of AR/VR technology

Global Military Simulation and Training Market consists of technology segments, such as  virtual reality (VR), augmented reality (AR), artificial intelligence (AI), cloud computing, and big data analytics. The virtual reality (VR) and augmented reality (AR) segments dominate Global Military Simulation and Training Market. VR and AR provide computer-generated models and environments that facilitate interactive and immersive scenarios to train military personnel. The growing adoption of advanced technologies, including VR and AR, helps the defense sector save on costs incurred in traditional defense training.

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Aviation Application Segment Holds Largest Market Share

Global Military Simulation and Training Market by application covers army, aviation, and navy segments. The aviation segment dominates the market, mainly due to the increasing need for border surveillance and battlefield operations. However, the army segment is projected to register a substantial growth rate over the forecast period. Intensifying and further spread of border disputes among neighboring countries have led to the military modernization of their systems. It, in turn, is expected to drive Global Military Simulation and Training Market. Moreover, a growing number of ground-based simulators are being used, as they are more accurate in assessing training objectives and have lower training expenses.

Impact of Escalating Geopolitical Tensions on Global Military Simulation and Training Market

The Global Market for Military Simulation and Training technologies and solutions has grown across the regions as a result of rising geopolitical tensions. Many nations have expanded their military spending and training in response to the recent wars, including Israel-Palestine and Russia-Ukraine. Intensified geopolitical tensions are intended to prepare their armed forces for prospective threats. Nations with border disputes and constant war threats, like South Korea, China, and India, are investing heavily in military training and simulation to strengthen their defenses and reduce training costs. As a result, Global Military Simulation and Training Market is expected to expand due to expanding geopolitical tensions across the world.

Regional Analysis

Over the forecast period, Asia Pacific region is projected to witness the highest growth rate in Global Military Simulation and Training Market. The increasing military expenditure and growing political tensions are propelling the growth of Asia Pacific regional market. Furthermore, an increasing number of major market players in the region is facilitating research and development programs which are expected to drive the market.

Competitive Landscape

Global Military Simulation and Training market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Raytheon Technologies, CAE Inc., FlightSafety International Inc., Lockheed Martin Corporation, THALES, TRU Simulation + Training Inc., BAE Systems plc, The Boeing Company, Rheinmetall AG, Collins Aerospace (RTX Corporation), and Frasca International, Inc.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Global Military Simulation and Training Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Global Military Simulation and Training Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Military Simulation and Training Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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