October 05, 2022

Technavio Report: Military Simulation and Virtual Training Market Size to Grow by USD 6.11 Bn

A According to the "Forecast and Analysis 2022-2026" report, the flight simulators segment will be the largest contributor to market growth during the forecast period. Experts attribute this growth 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 improve their product offerings, such as multiple simulations and virtual training modules for the military, which is expected to fuel demand for flight simulators globally during the forecast period.

Based on the report, the potential difference in market size for military simulation and virtual training between 2021 and 2026 is USD 6.11 billion.

…virtual training, on the other hand, is extremely cost-effective… it lowers the risks associated with in-person training... as a result, defence agencies' focus has shifted to simulation and synthetic training methodologies...

The market is expanding due to the availability of low-cost virtual training. Real-time training is expensive and incurs numerous additional costs in terms of resources. Virtual training, on the other hand, is extremely cost-effective. It lowers the risks associated with in-person training. As a result, defence agencies' focus has shifted to simulation and synthetic training methodologies. Furthermore, the recent increase in defence and law enforcement budgets has increased the demand for innovative simulation training systems by military and police forces.

While growth is anticipated, there will be some challenges.

The high cost of training is impeding market expansion. Simulators have high operating costs, as well as an increase in expenditure for simulation software installation. Furthermore, these simulators necessitate designated space, trained personnel, and infrastructure. This raises the overall cost of simulation implementation. Military simulations are extremely expensive due to their advanced nature.

Posted in News and tagged News, Technavio Report, Military Simulation, Virtual Training Market, Forecast and Analysis 2022-2026, Defence Agencies
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