The global military simulation and training market size is expected to reach USD 19.64 billion by 2030, according to a new study by Polaris Market Research. The report “Military Simulation and Training Market Share, Size, Trends, Industry Analysis Report, By Type (Live, Virtual, Constructive); By Application; By Platform; By Technology; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Recently many countries are facing the terror of war and conflicts. Therefore, many are investing in simulation and training technologies to train military and armed forces ready for forthcoming wars and terrorist attacks. Recently, the war between Afghanistan and the Taliban has created havoc in the state. This has made other countries spend more on the training of military forces. Thus, the market for military simulation and training increases worldwide. For instance, CAE announced that it has agreed with L3 Harris to acquire its military training business for USD 1.1 billion, in March 2021.
The budget for defense has increased exponentially in recent years. The global military budget surpassed USD 2.1 trillion, in 2021, according to SIPRI. Many countries are consistently increasing their defense spending to buy and produce cutting-edge security solutions to modernize the defense forces to combat the growth in the dangers of war and other internal problems. As a result, the worldwide military budget has increased, which has accelerated the use of simulation and training technology.
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By combining AI and IoT, simulation software for military training is becoming even more useful. The U.S. Army is using virtual reality software to teach its soldiers for a long time. Virtual reality (VR) has been utilized by the military for training, simulation, and even rehabilitation. The army has historically preferred software-based training programs because they typically have lower costs.
Armed forces personnel benefit from virtual reality environments that teach them how to communicate with one another, handle fake weapons that are identical in size and weight to their real-world counterparts, and make wise judgments under pressure. For instance, in July 2022, BAE Systems & VR simulation firm “VRAI” will explore the future of training for armed troops by combining the strengths of VR & AI.
Military simulation and Training Market Report Highlights:
Polaris Market Research has segmented the military simulation & training market report based on type, application, platform, technology, and region:
Military Simulation and Training, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Military Simulation and Training, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Military Simulation and Training, Platform Outlook (Revenue - USD Billion, 2018 - 2030)
Military Simulation and Training, Technology Outlook (Revenue - USD Billion, 2018 - 2030)
Military Simulation and Training, Regional Outlook (Revenue - USD Billion, 2018 - 2030)