PUBLISHER: KBV Research | PRODUCT CODE: 1599472
PUBLISHER: KBV Research | PRODUCT CODE: 1599472
North America Virtual Training & Simulation Market Size, Share & Trends Analysis Report By Component (Hardware and Software), By End User, By Offering (Solutions and Services), By Country and Growth Forecast, 2024 - 2031
The North America Virtual Training & Simulation Market would witness market growth of 12.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America Virtual Training & Simulation Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $281,059.3 Million by 2031. The Canada market is experiencing a CAGR of 14.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 13.6% during (2024 - 2031).
This market has emerged as a transformative force across various industries, fundamentally altering how organizations train employees, enhance their skills, and prepare for real-world situations. This market leverages advanced technologies such as virtual reality (VR), augmented reality (AR), and mixed reality (MR) to create immersive, interactive training environments that replicate real-life scenarios.
Virtual Training & Simulation find applications across various industries, from defense and healthcare to manufacturing and education. Each sector utilizes these technologies to address specific challenges, such as reducing training costs, improving skills retention, and enhancing operational efficiency. The defense sector was one of the earliest adopters of these technologies.
This Market has been experiencing significant growth due to technological advancements and increased demand for immersive training solutions across various sectors. The Aerospace Regional Recovery Initiative (ARRI), backed by a total budget of $250 million over three years, significantly boost Canada's aerospace industry. This initiative is delivered by Canada's regional development agencies (RDAs) to complement the support provided through Canada's COVID-19 Economic Response Plan and Industry, Science, and Economic Development (ISED) via the Strategic Innovation Fund. The Motion Picture Association's THEME report 2021 highlights a robust recovery and growth in the U.S. entertainment industry, with the combined theatrical and home/mobile entertainment market reaching $36.8 billion in 2021, a 14 percent increase from 2020. The surge in streaming subscriptions, which grew by 14 percent in 2021 to 1.3 billion globally, underscores the increasing consumer appetite for digital content. In conclusion, the rising aerospace sector and increasing entertainment industry propel the market's growth.
Based on Component, the market is segmented into Hardware and Software. Based on End User, the market is segmented into Defense & Security, Civil Aviation, Education, Entertainment, and Other End User. Based on Offering, the market is segmented into Solutions and Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- CAE Inc.
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- BAE Systems PLC
- RTX Corporation
- ON24, Inc.
- QinetiQ Group PLC (The Carlyle Group)
- ANSYS, Inc.
- Kratos Defense & Security Solutions, Inc.
- The DiSTI Corporation
North America Virtual Training & Simulation Market Report Segmentation
By Component
- Hardware
- Software
By End User
- Defense & Security
- Civil Aviation
- Education
- Entertainment
- Other End User
By Offering
- Solutions
- Services
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Virtual Training & Simulation Market, by Component
- 1.4.2 North America Virtual Training & Simulation Market, by End User
- 1.4.3 North America Virtual Training & Simulation Market, by Offering
- 1.4.4 North America Virtual Training & Simulation Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2021, Nov - 2024, Oct) Leading Players
- 4.5 Porter Five Forces Analysis
Chapter 5. North America Virtual Training & Simulation Market by Component
- 5.1 North America Hardware Market by Country
- 5.2 North America Software Market by Country
Chapter 6. North America Virtual Training & Simulation Market by End User
- 6.1 North America Defense & Security Market by Country
- 6.2 North America Civil Aviation Market by Country
- 6.3 North America Education Market by Country
- 6.4 North America Entertainment Market by Country
- 6.5 North America Other End User Market by Country
Chapter 7. North America Virtual Training & Simulation Market by Offering
- 7.1 North America Solutions Market by Country
- 7.2 North America Services Market by Country
Chapter 8. North America Virtual Training & Simulation Market by Country
- 8.1 US Virtual Training & Simulation Market
- 8.1.1 US Virtual Training & Simulation Market by Component
- 8.1.2 US Virtual Training & Simulation Market by End User
- 8.1.3 US Virtual Training & Simulation Market by Offering
- 8.2 Canada Virtual Training & Simulation Market
- 8.2.1 Canada Virtual Training & Simulation Market by Component
- 8.2.2 Canada Virtual Training & Simulation Market by End User
- 8.2.3 Canada Virtual Training & Simulation Market by Offering
- 8.3 Mexico Virtual Training & Simulation Market
- 8.3.1 Mexico Virtual Training & Simulation Market by Component
- 8.3.2 Mexico Virtual Training & Simulation Market by End User
- 8.3.3 Mexico Virtual Training & Simulation Market by Offering
- 8.4 Rest of North America Virtual Training & Simulation Market
- 8.4.1 Rest of North America Virtual Training & Simulation Market by Component
- 8.4.2 Rest of North America Virtual Training & Simulation Market by End User
- 8.4.3 Rest of North America Virtual Training & Simulation Market by Offering
Chapter 9. Company Profiles
- 9.1 CAE Inc.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
- 9.2 L3Harris Technologies, Inc.
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Recent strategies and developments:
- 9.2.4.1 Product Launches and Product Expansions:
- 9.2.5 SWOT Analysis
- 9.3 Lockheed Martin Corporation
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Product Launches and Product Expansions:
- 9.3.6 SWOT Analysis
- 9.4 BAE Systems PLC
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expenses
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Partnerships, Collaborations, and Agreements:
- 9.4.5.2 Product Launches and Product Expansions:
- 9.4.5.3 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
- 9.5 RTX Corporation
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Product Launches and Product Expansions:
- 9.5.6 SWOT Analysis
- 9.6 ON24, Inc.
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.7 QinetiQ Group PLC (The Carlyle Group)
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Regional Analysis
- 9.7.4 Research and Development Expense
- 9.8 ANSYS, Inc.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Regional Analysis
- 9.8.4 Research & Development Expenses
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Partnerships, Collaborations, and Agreements:
- 9.8.5.2 Product Launches and Product Expansions:
- 9.8.6 SWOT Analysis
- 9.9 Kratos Defense & Security Solutions, Inc.
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.10. The DiSTI Corporation
- 9.10.1 Company Overview
LIST OF TABLES
- TABLE 1 North America Virtual Training & Simulation Market, 2020 - 2023, USD Million
- TABLE 2 North America Virtual Training & Simulation Market, 2024 - 2031, USD Million
- TABLE 3 Partnerships, Collaborations and Agreements- Virtual Training & Simulation Market
- TABLE 4 Product Launches And Product Expansions- Virtual Training & Simulation Market
- TABLE 5 Acquisition and Mergers- Virtual Training & Simulation Market
- TABLE 6 North America Virtual Training & Simulation Market by Component, 2020 - 2023, USD Million
- TABLE 7 North America Virtual Training & Simulation Market by Component, 2024 - 2031, USD Million
- TABLE 8 North America Hardware Market by Country, 2020 - 2023, USD Million
- TABLE 9 North America Hardware Market by Country, 2024 - 2031, USD Million
- TABLE 10 North America Software Market by Country, 2020 - 2023, USD Million
- TABLE 11 North America Software Market by Country, 2024 - 2031, USD Million
- TABLE 12 North America Virtual Training & Simulation Market by End User, 2020 - 2023, USD Million
- TABLE 13 North America Virtual Training & Simulation Market by End User, 2024 - 2031, USD Million
- TABLE 14 North America Defense & Security Market by Country, 2020 - 2023, USD Million
- TABLE 15 North America Defense & Security Market by Country, 2024 - 2031, USD Million
- TABLE 16 North America Civil Aviation Market by Country, 2020 - 2023, USD Million
- TABLE 17 North America Civil Aviation Market by Country, 2024 - 2031, USD Million
- TABLE 18 North America Education Market by Country, 2020 - 2023, USD Million
- TABLE 19 North America Education Market by Country, 2024 - 2031, USD Million
- TABLE 20 North America Entertainment Market by Country, 2020 - 2023, USD Million
- TABLE 21 North America Entertainment Market by Country, 2024 - 2031, USD Million
- TABLE 22 North America Other End User Market by Country, 2020 - 2023, USD Million
- TABLE 23 North America Other End User Market by Country, 2024 - 2031, USD Million
- TABLE 24 North America Virtual Training & Simulation Market by Offering, 2020 - 2023, USD Million
- TABLE 25 North America Virtual Training & Simulation Market by Offering, 2024 - 2031, USD Million
- TABLE 26 North America Solutions Market by Country, 2020 - 2023, USD Million
- TABLE 27 North America Solutions Market by Country, 2024 - 2031, USD Million
- TABLE 28 North America Services Market by Country, 2020 - 2023, USD Million
- TABLE 29 North America Services Market by Country, 2024 - 2031, USD Million
- TABLE 30 North America Virtual Training & Simulation Market by Country, 2020 - 2023, USD Million
- TABLE 31 North America Virtual Training & Simulation Market by Country, 2024 - 2031, USD Million
- TABLE 32 US Virtual Training & Simulation Market, 2020 - 2023, USD Million
- TABLE 33 US Virtual Training & Simulation Market, 2024 - 2031, USD Million
- TABLE 34 US Virtual Training & Simulation Market by Component, 2020 - 2023, USD Million
- TABLE 35 US Virtual Training & Simulation Market by Component, 2024 - 2031, USD Million
- TABLE 36 US Virtual Training & Simulation Market by End User, 2020 - 2023, USD Million
- TABLE 37 US Virtual Training & Simulation Market by End User, 2024 - 2031, USD Million
- TABLE 38 US Virtual Training & Simulation Market by Offering, 2020 - 2023, USD Million
- TABLE 39 US Virtual Training & Simulation Market by Offering, 2024 - 2031, USD Million
- TABLE 40 Canada Virtual Training & Simulation Market, 2020 - 2023, USD Million
- TABLE 41 Canada Virtual Training & Simulation Market, 2024 - 2031, USD Million
- TABLE 42 Canada Virtual Training & Simulation Market by Component, 2020 - 2023, USD Million
- TABLE 43 Canada Virtual Training & Simulation Market by Component, 2024 - 2031, USD Million
- TABLE 44 Canada Virtual Training & Simulation Market by End User, 2020 - 2023, USD Million
- TABLE 45 Canada Virtual Training & Simulation Market by End User, 2024 - 2031, USD Million
- TABLE 46 Canada Virtual Training & Simulation Market by Offering, 2020 - 2023, USD Million
- TABLE 47 Canada Virtual Training & Simulation Market by Offering, 2024 - 2031, USD Million
- TABLE 48 Mexico Virtual Training & Simulation Market, 2020 - 2023, USD Million
- TABLE 49 Mexico Virtual Training & Simulation Market, 2024 - 2031, USD Million
- TABLE 50 Mexico Virtual Training & Simulation Market by Component, 2020 - 2023, USD Million
- TABLE 51 Mexico Virtual Training & Simulation Market by Component, 2024 - 2031, USD Million
- TABLE 52 Mexico Virtual Training & Simulation Market by End User, 2020 - 2023, USD Million
- TABLE 53 Mexico Virtual Training & Simulation Market by End User, 2024 - 2031, USD Million
- TABLE 54 Mexico Virtual Training & Simulation Market by Offering, 2020 - 2023, USD Million
- TABLE 55 Mexico Virtual Training & Simulation Market by Offering, 2024 - 2031, USD Million
- TABLE 56 Rest of North America Virtual Training & Simulation Market, 2020 - 2023, USD Million
- TABLE 57 Rest of North America Virtual Training & Simulation Market, 2024 - 2031, USD Million
- TABLE 58 Rest of North America Virtual Training & Simulation Market by Component, 2020 - 2023, USD Million
- TABLE 59 Rest of North America Virtual Training & Simulation Market by Component, 2024 - 2031, USD Million
- TABLE 60 Rest of North America Virtual Training & Simulation Market by End User, 2020 - 2023, USD Million
- TABLE 61 Rest of North America Virtual Training & Simulation Market by End User, 2024 - 2031, USD Million
- TABLE 62 Rest of North America Virtual Training & Simulation Market by Offering, 2020 - 2023, USD Million
- TABLE 63 Rest of North America Virtual Training & Simulation Market by Offering, 2024 - 2031, USD Million
- TABLE 64 Key Information - CAE Inc.
- TABLE 65 Key information - L3Harris Technologies, Inc.
- TABLE 66 Key Information - Lockheed Martin Corporation
- TABLE 67 Key Information - BAE Systems PLC
- TABLE 68 Key Information - RTX Corporation
- TABLE 69 Key Information - ON24, Inc.
- TABLE 70 Key Information - QinetiQ Group PLC
- TABLE 71 Key Information - ANSYS, Inc.
- TABLE 72 Key Information - Kratos Defense & Security Solutions, Inc.
- TABLE 73 Key Information - The DiSTI Corporation
