North America Virtual Training and Simulation Market By Component Type (Hardware, Software), End User (Defence and Security - Air-Borne, Naval, Ground; Civil Aviation, Education - e-Learning, Game - based)
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the North America Virtual Training and Simulation Market
The North America Virtual Training and Simulation market size is poised to grow at a growth rate of 14.7% CAGR during the forecast period.
Virtual training is a simulated virtual environment which is created to assess the capabilities of trainees to select the right resource. The virtual training simulation is of two kinds, namely instructor-led training and non-instructor-supported training. Simulation, by definition is a process of imitation of an operation of a real world system or a process. North America is the foremost region globally, and technology is aggressively and swiftly adopted in the region. Large number of manufacturers in North America is actively working on the development of simulation and virtual training technology. The United States Army Simulation and Training Technology Center (STTC) provides research platform for the development of simulation technologies to the United States Department of Defense and United States Department of Homeland Security.
The Canada First Defence Strategy is an initiative to equip the Canadian Forces (CF) with Operational Training System Provider (OTSP), which was developed by CAE, Inc., to deliver comprehensive aircrew training services. Major market leaders are working on developing novel solutions by heavily investing on R&D. New market opportunities are explored by expanding the market presence with strategies such as partnerships, collaborations, and other strategic alliances. The North America virtual training and simulation market is segmented based on components, end user, and geography. The components segment is further sub-segmented into hardware and software.
Based on end users, the market is segmented into defense & security, civil aviation, education, entertainment, and others. The education segment is further bifurcated into e-learning and game-based learning. Based on Country, North America Virtual Training and Simulation market is segmented into US, Canada, Mexico, and Rest of North America. US remained the dominant Country in the North America Virtual Training and Simulation market in 2015. Canada would witness high growth during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Virtual Training and Simulation market. Key companies profiled in the report include BAE Systems, CAE Inc., L-3 Link Simulation & Training, Cubic Corporation., ON24, Inc., QinetiQ Group plc. , ANSYS, Inc. and Kratos Defense & Security Solutions, Inc.