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Virtual Training and Simulation Market by Component (Hardware and Software) and End User (Defense & Security, Civil Aviation, Education, Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A01425
Pages: 234
Aug 2020 | 16103 Views
 
Author(s) : Shadaab Khan, Pramod Borasi , Vineet Kumar
Tables: 96
Charts: 73
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

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Virtual Training and Simulation Market Insights - 2027

The virtual training and simulation market size was valued at $204.41 billion in 2019, and is projected to reach $601.85 billion by 2027, growing at a CAGR of 13.7% from 2020 to 2027. Virtual training is a training method in which a simulated virtual environment is created to test certain abilities of a trainee that can contribute to the learning process. It is widely applicable in-flight simulation, simulation-based gaming, serious games, healthcare training, energy, transportation training, e-learning, military & navy, digital manufacturing, and others. 

Post COVID-19, virtual training and simulation software is expected to attain significant growth, owing to growing demand for online content, certification courses, corporate learning, learning management systems (LMS), and other e-learning tools

 

Rise in awareness regarding virtual training and simulation positively drives the virtual training and simulation market growth. This technology is utilized in various fields such as civil aviation, military, e-learning, serious gaming, simulation-based gaming, entertainment, digital manufacturing, and healthcare due to its advantages such as ease of handling and understanding, offers virtual environment as close as real one, and efficiency of training. 

Virtual-Training-and-Simulation-Market-2020-2027 (002)

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Over the past few years, increase in defense, healthcare, and education expenditure has been observed, especially in Asia-Pacific, LAMEA, and European countries; this is expected to significantly boost the growth of the virtual training and simulation market during the forecast period. With an increase in expenditure, the number of sales of related equipment in these sectors is expected to increase, including for virtual training and simulation equipment.

Virtual training and simulation is majorly used in industries such as defense & security, civil aviation, healthcare, digital manufacturing, education, and entertainment. In addition, it finds applications in other industries such as mining, energy, and transportation. In these industries, training can be made effective for respected crew members at minimum costs and without compromising any human life.  

The report focuses on the growth prospects, restraints, and market analysis. The study provides Porter’s five forces analysis of the virtual training and simulation industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the market. 

Over the years, these market leaders have established themselves with continuous investment on product innovation, which has enabled them to improve the quality, capability, and performance of the training and simulation solutions. Further, these companies have expanded their virtual training and simulation market opportunities presence through strategic alliances and are working toward launching upgraded products in the market to gain maximum market share as well as to deliver better benefits to the stakeholders.

Segment review

The virtual training and simulation market is segmented on the basis of component, end user, and region. By component, it is categorized into hardware and software. Depending on end user, it is categorized into defense & security, civil aviation, education, entertainment, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the virtual training and simulation market analysis include ANSYS, Inc., BAE Systems, CAE Inc., Cubic Corporation, The DiSTI Corporation, Kratos Defence & Security Solutions, Inc., L-3 Link Simulation & Training, Lockheed Martin Corporation, ON24 Inc., and Saab AB.

Impact of COVID-19 on Virtual Training and Simulation Market

Though COVID-19 crisis continues to disrupt many industries, it has opened opportunities for high adoption of digital transformation approaches among various industries such as education, healthcare, defense and others owing to which there is a high demand for virtual training and simulation market. When state-and country-wide lockdowns initiated at the beginning of 2020, demand for virtual training and simulations increased among the healthcare sector due to various countries implementing implement their Life-saving Instruction for Emergencies (LIFE) project for fighting against various pandemic situation. Furthermore, various key players of the market are introducing new strategies to enhance the customer experience and to improve their market share in the pandemic situation.

Top impacting factors

The significant impacting factors include increase in awareness about virtual training and simulation; cost-effective benefits of virtual training and simulation technology; and rise in defense, healthcare, and education expenditure. In few regions such as Africa, people are willing to adopt the technology, but lack of infrastructure and availability of solutions resist them to do so. This negatively impacts the market. Moreover, absence of novelty in products may lead to loss of interest of consumers in outdated technology and would stick to the existing one, rather than buying another one. Thus, lack of investments in R&D is projected to impact negatively on the virtual training and simulation market. Advancements in virtual training and simulation technology positively affects the market growth and is expected to continue this in the near future.

Virtual Training and Simulation Market
By Component

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Hardware is projected as one of the most lucrative segments.

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Increase in awareness about virtual training and simulation

Virtual training and simulation have found scope in various industries such as civil aviation, defense & security, healthcare, digital manufacturing, education, and entertainment. Nowadays, individuals or organizations are taking advantage of either hardware or software or combination of both solutions to train professionals, students, crews, and other associated people in an efficient way with minimum efforts. According to a primary respondent, in the near future, awareness of simulation & virtual training and the importance of training in a situation similar to real life scenario will help people in different fields to understand/utilize & train in a better state of the art technology and to develop more advanced and even sophisticated systems.

Virtual Training and Simulation Market
By End-user

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Entertainment is projected as one of the most lucrative segments.

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Increase in defense, healthcare, and education expenditure

In Asia-Pacific, Europe, and LAMEA, defense, healthcare, and education expenditure has increased significantly, which indicates the rise in sales for related equipment including virtual training and simulation solutions. This increase in expenditure is due to rise in air traffic and commercial aircraft fleet and increase in number of Internet users and adoption of mobile phones. In addition, virtual training and simulation market forecasts growth due to technological advancements in healthcare and digital manufacturing, growth in penetration of serious gaming in education segment, and remarkable growth in e-learning market. This in turn further supplements the adoption of virtual training and simulation solutions.

Virtual Training and Simulation Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 15.2% during 2020-2027.

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Key Benefits For Stakeholders

  • This study includes the virtual training and simulation market trends, opportunity, analysis, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities of the virtual training and simulation industry.
  • The virtual training and simulation market share is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the virtual training and simulation market.

Key Market Segments

By Component

  • Hardware
  • Software

By End User

  • Defense & Security
  • Civil Aviation
  • Education
  • Entertainment
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • Germany
    • France
    • UK
    • Rest of Europe
  • Asia-Pacific 
    • Japan
    • China
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East
    • Africa

Key Market Players

  • ANSYS, Inc. 
  • BAE Systems 
  • CAE Inc. 
  • Cubic Corporation 
  • The DiSTI Corporation 
  • Kratos Defence & Security Solutions, Inc. 
  • L-3 Link Simulation & Training
  • Lockheed Martin Corporation 
  • ON24, Inc. 
  • Saab AB
 

CHAPTER 1:INTRODUCTION

1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS FOR STAKEHOLDERS
1.3.KEY MARKET SEGMENTS
1.4.KEY MARKET PLAYERS
1.5.RESEARCH METHODOLOGY

1.5.1.Secondary research
1.5.2.Primary research
1.5.3.Analyst tools & models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.KEY FINDINGS

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO PERSPECTIVE

CHAPTER 3:MARKET OVERVIEW

3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FORCES SHAPING THE GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET

3.2.1.Moderate-to-high bargaining power of suppliers
3.2.2.Moderate-to-high bargaining power of buyer
3.2.3.Moderate-to-high threat of substitutes
3.2.4.Low-to-high threat of new entrants
3.2.5.Low-to-high competitive rivalry

3.3.VALUE CHAIN ANALYSIS

3.3.1.R&D
3.3.2.Component manufacturers
3.3.3.Assembly, programming, and testing
3.3.4.Marketing and sales
3.3.5.End user
3.3.6.After-sales services

3.4.MARKET DYNAMICS

3.4.1.Drivers

3.4.1.1.Increase in awareness about virtual training and simulation
3.4.1.2.Cost-effective benefits of virtual training and simulation solutions
3.4.1.3.Increase in defense, healthcare, and education expenditure

3.4.2.Restraints

3.4.2.1.Resistance to adopt the virtual training and simulation technology

3.4.3.Opportunities

3.4.3.1.Advancements in technology
3.4.3.2.Scope for improvements in other industries (mining, transportation, and energy)

3.5.INDUSTRY ROADMAP OF VIRTUAL TRAINING AND SIMULATION MARKET
3.6.IMPACT OF GOVERNMENT REGULATIONS ON THE GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
3.7.COVID-19 IMPACT ANALYSIS ON VIRTUAL TRAINING AND SIMULATION MARKET

3.7.1.Impact on market size
3.7.2.Consumer trends, preferences, and budget impact
3.7.3.Regulatory framework
3.7.4.Economic impact
3.7.5.Key player strategies to tackle negative impact
3.7.6.Opportunity window

CHAPTER 4:VIRTUAL TRAINING AND SIMULATION MARKET, BY COMPONENT

4.1.OVERVIEW
4.2.HARDWARE

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country

4.3.SOFTWARE

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country

CHAPTER 5:VIRTUAL TRAINING AND SIMULATION MARKET, BY END USER

5.1.OVERVIEW
5.2.DEFENSE & SECURITY

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.CIVIL AVIATION

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country

5.4.EDUCATION

5.4.1.Key market trends, growth factors, and opportunities

5.4.1.1.E-Learning

5.4.1.1.1.Key market trends, growth factors, and opportunities

5.4.1.2.Game-based learning

5.4.1.2.1.Key market trends, growth factors, and opportunities

5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

5.5.ENTERTAINMENT

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country

5.6.OTHERS

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country

CHAPTER 6:VIRTUAL TRAINING AND SIMULATION MARKET, BY REGION

6.1.OVERVIEW

6.1.1.Market size and forecast, by region

6.2.NORTH AMERICA

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by component
6.2.3.Market size and forecast, by end user
6.2.4.Market analysis, by country

6.2.4.1.U.S.

6.2.4.1.1.Market size and forecast, by component
6.2.4.1.2.Market size and forecast, by end user

6.2.4.2.Canada

6.2.4.2.1.Market size and forecast, by component
6.2.4.2.2.Market size and forecast, by end user

6.3.EUROPE

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by component
6.3.3.Market size and forecast, by end user
6.3.4.Market analysis, by country

6.3.4.1.Germany

6.3.4.1.1.Market size and forecast, by component
6.3.4.1.2.Market size and forecast, by end user

6.3.4.2.France

6.3.4.2.1.Market size and forecast, by component
6.3.4.2.2.Market size and forecast, by end user

6.3.4.3.UK

6.3.4.3.1.Market size and forecast, by component
6.3.4.3.2.Market size and forecast, by end user

6.3.4.4.Spain

6.3.4.4.1.Market size and forecast, by component
6.3.4.4.2.Market size and forecast, by end user

6.3.4.5.Italy

6.3.4.5.1.Market size and forecast, by component
6.3.4.5.2.Market size and forecast, by end user

6.3.4.6.Rest of Europe

6.3.4.6.1.Market size and forecast, by component
6.3.4.6.2.Market size and forecast, by end user

6.4.ASIA-PACIFIC

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by component
6.4.3.Market size and forecast, by end user
6.4.4.Market analysis, by country

6.4.4.1.Japan

6.4.4.1.1.Market size and forecast, by component
6.4.4.1.2.Market size and forecast, by end user

6.4.4.2.China

6.4.4.2.1.Market size and forecast, by component
6.4.4.2.2.Market size and forecast, by end user

6.4.4.3.India

6.4.4.3.1.Market size and forecast, by component
6.4.4.3.2.Market size and forecast, by end user

6.4.4.4.Rest of Asia-Pacific

6.4.4.4.1.Market size and forecast, by component
6.4.4.4.2.Market size and forecast, by end user

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by component
6.5.3.Market size and forecast, by end user
6.5.4.Market analysis, by country

6.5.4.1.Latin America

6.5.4.1.1.Market size and forecast, by component
6.5.4.1.2.Market size and forecast, by end user

6.5.4.2.Middle East

6.5.4.2.1.Market size and forecast, by component
6.5.4.2.2.Market size and forecast, by end user

6.5.4.3.Africa

6.5.4.3.1.Market size and forecast, by component
6.5.4.3.2.Market size and forecast, by end user

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.KEY PLAYERS POSITIONING ANALYSIS, 2019
7.2.TOP WINNING STRATEGIES
7.3.COMPETITIVE DASHBOARD
7.4.KEY DEVELOPMENTS

7.4.1.Product launches
7.4.2.Partnership
7.4.3.Product development
7.4.4.Business expansion
7.4.5.Agreement
7.4.6.Acquisition
7.4.7.Collaboration

7.5.PATENT ANALYSIS

7.5.1.By region (2016-2019)
7.5.2.By applicant

7.6.CASE STUDIES

7.6.1.United States Air Force (USAF) awarded a P5 Combat Training System (P5CTS) contract to Cubic

CHAPTER 8:COMPANY PROFILES

8.1.ANSYS, INC.

8.1.1.Company overview
8.1.2.Key executives
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.R&D expenditure
8.1.6.Business performance
8.1.7.Key strategic moves and developments

8.2.BAE SYSTEMS

8.2.1.Company overview
8.2.2.Key executives
8.2.3.Company snapshot
8.2.4.Operating business segments
8.2.5.Product portfolio
8.2.6.R&D expenditure
8.2.7.Business performance
8.2.8.Key strategic moves and developments

8.3.CAE INC.

8.3.1.Company overview
8.3.2.Key executives
8.3.3.Company snapshot
8.3.4.Operating business segments
8.3.5.Product portfolio
8.3.6.R&D expenditure
8.3.7.Business performance
8.3.8.Key strategic moves and developments

8.4.CUBIC CORPORATION

8.4.1.Company overview
8.4.2.Key executives
8.4.3.Company snapshot
8.4.4.Operating business segments
8.4.5.Product portfolio
8.4.6.R&D expenditure
8.4.7.Business performance
8.4.8.Key strategic moves and developments

8.5.THE DISTI CORPORATION

8.5.1.Company overview
8.5.2.Key executives
8.5.3.Company snapshot
8.5.4.Product portfolio
8.5.5.Key strategic moves and developments

8.6.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.

8.6.1.Company overview
8.6.2.Key executives
8.6.3.Company snapshot
8.6.4.Operating business segments
8.6.5.Product portfolio
8.6.6.R&D expenditure
8.6.7.Business performance
8.6.8.Key strategic moves and developments

8.7.L3 LINK TRAINING & SIMULATION

8.7.1.Company overview
8.7.2.Key executives
8.7.3.Company snapshot
8.7.4.Product portfolio
8.7.5.Key strategic moves and developments

8.8.LOCKHEED MARTIN CORPORATION

8.8.1.Company overview
8.8.2.Key Executives
8.8.3.Company snapshot
8.8.4.Operating business segments
8.8.5.Product portfolio
8.8.6.R&D expenditure
8.8.7.Business performance
8.8.8.Key strategic moves and developments

8.9.ON24, INC.

8.9.1.Company overview
8.9.2.Key executives
8.9.3.Company snapshot
8.9.4.Product portfolio

8.10.SAAB AB

8.10.1.Company overview
8.10.2.Key Executives
8.10.3.Company snapshot
8.10.4.Operating business segments
8.10.5.Product portfolio
8.10.6.Business performance
8.10.7.Key strategic moves and developments

LIST OF TABLES

TABLE 01.GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET, BY COMPONENT, 2019–2027 ($BILLION)
TABLE 02.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE FOR HARDWARE, BY REGION, 2019–2027 ($BILLION)
TABLE 03.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE FOR SOFTWARE, BY REGION, 2019–2027 ($BILLION)
TABLE 04.GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 05.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE FOR DEFENSE & SECURITY, BY REGION 2019–2027 ($BILLION)
TABLE 06.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE FOR CIVIL AVIATION, BY REGION, 2019–2027 ($BILLION)
TABLE 07.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE FOR EDUCATION, BY REGION 2019–2027 ($BILLION)
TABLE 08.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE FOR ENTERTAINMENT, BY REGION 2019–2027 ($BILLION)
TABLE 09.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE FOR OTHERS, BY REGION  2019–2027 ($BILLION)
TABLE 10.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY REGION, 2019–2027 ($BILLION)
TABLE 11.NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 12.NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 13.NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COUNTRY,  2019–2027 ($BILLION)
TABLE 14.U.S. VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 15.U.S. VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 16.CANADA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 17.CANADA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 18.EUROPE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 19.EUROPE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 20.EUROPE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($BILLION)
TABLE 21.GERMANY VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 22.GERMANY VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 23.FRANCE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 24.FRANCE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 25.UK VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 26.UK VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 27.SPAIN VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 28.SPAIN VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 29.ITALY VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 30.ITALY VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 31.REST OF EUROPE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 32.REST OF EUROPE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 33.ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 34.ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 35.ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($BILLION)
TABLE 36.JAPAN VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 37.JAPAN VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 38.CHINA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 39.CHINA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 40.INDIA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 41.INDIA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 42.REST OF ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 43.REST OF ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 44.LAMEA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 45.LAMEA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 46.LAMEA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($BILLION)
TABLE 47.LATIN AMERICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 48.LATIN AMERICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 49.MIDDLE EAST VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 50.MIDDLE EAST VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 51.AFRICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT 2019–2027 ($BILLION)
TABLE 52.AFRICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)
TABLE 53.KEY NEW PRODUCT LAUNCHES (2017-2020)
TABLE 54.PARTNERSHIP (2017-2020)
TABLE 55.PRODUCT DEVELOPMENT (2017-2020)
TABLE 56.KEY EXPANSION (2017-2020)
TABLE 57.AGREMEENT (2017-2020)
TABLE 58.ACQUISITION (2017-2020)
TABLE 59.KEY COLLABORATION (2017-2020)
TABLE 60.ANSYS, INC.: KEY EXECUTIVES
TABLE 61.ANSYS, INC.: COMPANY SNAPSHOT
TABLE 62.ANSYS, INC.: PRODUCT PORTFOLIO
TABLE 63.BAE SYSTEMS: KEY EXECUTIVES
TABLE 64.BAE SYSTEMS: COMPANY SNAPSHOT
TABLE 65.BAE SYSTEMS: OPERATING SEGMENTS
TABLE 66.BAE SYSTEMS: PRODUCT PORTFOLIO
TABLE 67.CAE INC.: KEY EXECUTIVES
TABLE 68.CAE INC.: COMPANY SNAPSHOT
TABLE 69.CAE INC.: OPERATING SEGMENTS
TABLE 70.CAE INC.: PRODUCT PORTFOLIO
TABLE 71.CUBIC CORPORATION: KEY EXECUTIVES
TABLE 72.CUBIC CORPORATION: COMPANY SNAPSHOT
TABLE 73.CUBIC CORPORATION: OPERATING SEGMENTS
TABLE 74.CUBIC CORPORATION: PRODUCT PORTFOLIO
TABLE 75.THE DISTI CORPORATION: KEY EXECUTIVES
TABLE 76.THE DISTI CORPORATION: COMPANY SNAPSHOT
TABLE 77.THE DISTI CORPORATION: PRODUCT PORTFOLIO
TABLE 78.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: KEY EXECUTIVES
TABLE 79.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: COMPANY SNAPSHOT
TABLE 80.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: OPERATING SEGMENTS
TABLE 81.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: PRODUCT PORTFOLIO
TABLE 82.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 83.L3 LINK TRAINING & SIMULATION: KEY EXECUTIVES
TABLE 84.L3 LINK TRAINING & SIMULATION: COMPANY SNAPSHOT
TABLE 85.L3 LINK TRAINING & SIMULATION: PRODUCT PORTFOLIO
TABLE 86.LOCKHEED MARTIN CORPORATION: KEY EXECUTIVES
TABLE 87.LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT
TABLE 88.LOCKHEED MARTIN CORPORATION: OPERATING SEGMENTS
TABLE 89.LOCKHEED MARTIN CORPORATION: PRODUCT PORTFOLIO
TABLE 90.ON24, INC.: KEY EXECUTIVES
TABLE 91.ON24, INC.: COMPANY SNAPSHOT
TABLE 92.ON24, INC.: PRODUCT PORTFOLIO
TABLE 93.SAAB AB: KEY EXECUTIVES
TABLE 94.SAAB AB: COMPANY SNAPSHOT
TABLE 95.SAAB AB: OPERATING SEGMENTS
TABLE 96.SAAB AB: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET, 2019–2027
FIGURE 03.GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET, BY REGION, 2019–2027
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.TOP PLAYERS OF THE GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
FIGURE 07.MODERATE-TO-HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 08.MODERATE-TO-HIGH BARGAINING POWER OF BUYER
FIGURE 09.MODERATE-TO-HIGH THREAT OF SUBSTITUTES
FIGURE 10.LOW-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 11.LOW-TO-HIGH COMPETITIVE RIVALRY
FIGURE 12.VALUE CHAIN ANALYSIS OF VIRTUAL TRAINING AND SIMULATION MARKET
FIGURE 13.MARKET DYNAMICS: GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
FIGURE 14.INDUSTRY ROADMAP OF GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
FIGURE 15.IMPACT OF GOVERNMENT REGULATIONS ON THE GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
FIGURE 16.GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY COMPONENT,  2019–2027 ($BILLION)
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET FOR HARDWARE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 18.COMPARATIVE SHARE ANALYSIS OF GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET FOR SOFTWARE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 19.GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET, BY END USER, 2019–2027
FIGURE 20.COMPARATIVE SHARE ANALYSIS GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET FOR DEFENSE & SECURITY, BY COUNTRY, 2019 & 2027(%)
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET FOR CIVIL AVIATION, BY COUNTRY, 2019 & 2027 (%)
FIGURE 22.COMPARATIVE SHARE ANALYSIS GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET FOR EDUCATION, BY COUNTRY, 2019 & 2027 (%)
FIGURE 23.COMPARATIVE SHARE ANALYSIS GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET FOR ENTERTAINMENT, BY COUNTRY, 2019 & 2027 (%)
FIGURE 24.COMPARATIVE SHARE ANALYSIS GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET FOR OTHERS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 25.VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, BY REGION, 2019–2027 ($BILLION)
FIGURE 26.U.S. VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 27.CANADA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 28.GERMANY VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 29.FRANCE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 30.UK VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 31.SPAIN VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 32.ITALY VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 33.REST OF EUROPE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 34.JAPAN VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 35.CHINA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 36.INDIA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 37.REST OF ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 38.LATIN AMERICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 39.MIDDLE EAST VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 40.AFRICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2019–2027 ($BILLION)
FIGURE 41.KEY PLAYER POSITIONING ANLYSIS: GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
FIGURE 42.TOP WINNING STRATEGIES, BY YEAR, 2017-2020
FIGURE 43.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2017-2020
FIGURE 44.TOP WINNING STRATEGIES, BY COMPANY, 2017-2020
FIGURE 45.COMPETITIVE DASHBOARD
FIGURE 46.COMPETITIVE DASHBOARD
FIGURE 47.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 48.PATENT ANALYSIS, BY REGION
FIGURE 49.PATENT ANALYSIS, BY APPLICANT
FIGURE 50.R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 51.ANSYS, INC.: REVENUE, 2016–2018 ($MILLION)
FIGURE 52.ANSYS, INC.: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 53.R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 54.BAE SYSTEMS: REVENUE, 2016–2018 ($MILLION)
FIGURE 55.BAE SYSTEMS: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 56.R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 57.CAE INC.: REVENUE, 2016–2018 ($MILLION)
FIGURE 58.CAE INC.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 59.CAE INC.: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 60.R&D EXPENDITURE, 2017–2019 ($MILLION)
FIGURE 61.CUBIC CORPORATION: REVENUE, 2017–2019 ($MILLION)
FIGURE 62.CUBIC CORPORATION: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 63.CUBIC CORPORATION: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 64.R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 65.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: REVENUE, 2016–2018 ($MILLION)
FIGURE 66.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 67.R&D EXPENDITURE, 2016–2018 ($MILLION)
FIGURE 68.LOCKHEED MARTIN CORPORATION: REVENUE, 2016–2018 ($MILLION)
FIGURE 69.LOCKHEED MARTIN CORPORATION: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 70.LOCKHEED MARTIN CORPORATION: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 71.SAAB AB: REVENUE, 2017–2019 ($MILLION)
FIGURE 72.SAAB AB: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 73.SAAB AB: REVENUE SHARE BY REGION, 2018 (%)

 
 

According to the CXOs of leading companies operating in the virtual training and simulation market, initial investments and development cost of training & simulation solutions are higher as compared to other solutions. However, virtual training and simulation solutions provide better options for training as compared to conventional tools and methods. As solution manufacturers focus on every minute details of real incidents while developing the solutions, so that a trainee gets a real-world experience with minimum wastage of resources such as money, human life, and physical entities. For instance, the idea of using a real aircraft component is expected to approximately cost $10,000, but by using the latest technology available in the market it can be manufactured to simulate the component at a lesser price like between $2,000 and $3,000.

However, there was a time, when an aircraft simulator used to cost approximately three times the actual aircraft’s cost, but today the development & innovation has helped the manufactures to minimize the manufacturing cost to great extent. The applications of simulation technology are observed in various end users, which include aviation, naval, military, medical, and others. In addition, in the near future, the awareness and adoption of virtual training and simulation solutions are expected to increase at a significant rate among various end users. This is expected to improve training process in different organizations, which is estimated to result into high productivity and innovation.

The key players operating in the global virtual training and simulation market include CAE Inc., L-3 Link Simulation & Training, Cubic Corporation, ON24, Inc., BAE systems PLC, Kratos Defence & Security Solutions, Inc., DiSTI Corporation, ANSYS, Inc., SaaB AB, and Lockheed Martin Corporation. Major players have adopted various revenue and business growth strategies to enhance and develop their product portfolio, strengthen their virtual training and simulation market share, and help them increase their market penetration.

 

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FREQUENTLY ASKED QUESTIONS?
 

A. Virtual training is a methodology in which a simulated virtual environment is created to test the capabilities of a trainee that can contribute to the learning process. Simulation is the imitation of the processes of a real-world operation or system over time.

A. Virtual training and simulation solutions provide cost-effective solutions for a wide range of applications such as pilot training, soldier training, e-learning simulation-based gaming and training of nurses, doctors, and other medical professionals.

A. Growth in awareness among end users about the benefits of virtual training & simulation and increased spending by various end users such as defense, healthcare, and education due to higher budget allocation.

A. The market players operating in the virtual training and simulation market include ANSYS, Inc., BAE Systems, CAE Inc., Cubic Corporation, Kratos Defence & Security Solutions Inc., L-3 Link Simulation & Training, Lockheed Martin Corporation, ON24 Inc., Saab AB and The DiSTI Corporation.

A. Due to the outbreak of the COVID-19 pandemic, the market is projected to witness a sudden downfall in 2020. This is attributed to implementation of lockdown by governments in majority of the countries and the shutdown of schools, colleges, offices and other organizations to prevent the transmission of virus.

 

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