Global Virtual Training and Simulation Market 2020-2027 by Component (Hardware, Software), Product Type (Conventional, VR), End User (Education, Entertainment, Defense & Security, Healthcare), and Region: Trend Outlook and Growth Opportunity
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Global virtual training and simulation market will reach $519.7 billion by 2027, growing by 15.2% annually over 2020-2027 driven by the growing awareness, cost-effective benefits of virtual training and simulation, and rising applications across industry verticals.
Highlighted with 82 tables and 75 figures, this 147-page report “Global Virtual Training and Simulation Market 2020-2027 by Component (Hardware, Software), Product Type (Conventional, VR), End User (Education, Entertainment, Defense & Security, Healthcare), and Region: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire global virtual training and simulation market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate/forecast from 2020 till 2027 with 2019 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global virtual training and simulation market in every aspect of the classification from perspectives of Component, Product Type, End User, and Region.
Based on Component, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Hardware
o Headsets
o Combat Tools
o Hand Gloves
o Hearing Aids
o Mannequins
o Gaming Consoles
o Other Hardware
• Software & Service
Based on Product Type, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Conventional Virtual Training
• Virtual Reality Based Training
Based on End User, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Education
o e-Learning
o Game-based Learning
• Entertainment
• Defense & Security
o Air-Borne Defence & Security
o Naval Defence & Security
o Ground Defence & Security
• Civil Aviation
• Healthcare & Medical Industry
• Other End Users
Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2017-2027. The breakdown of all regional markets by country and split of key national markets by Component, Product Type, and End User over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
ANSYS, Inc.
BAE Systems
CAE Inc.
Cubic Corporation
Kratos Defence & Security Solutions, Inc.
L-3 Link Simulation & Training
Laerdal Medical Corporation
Lockheed Martin Corporation
ON24, Inc.
QinetiQ Group PLC
Saab AB
The DiSTI Corporation
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1 Introduction 8
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 15
1.2.6 Market Size/Share Estimation 16
1.2.7 Research Limitations 17
1.3 Executive Summary 18
2 Market Overview and Dynamics 20
2.1 Market Size and Forecast 20
2.1.1 Impact of COVID-19 on World Economy 21
2.1.2 Impact of COVID-19 on the Market 23
2.2 Major Growth Drivers 25
2.3 Market Restraints and Challenges 28
2.4 Emerging Opportunities and Market Trends 31
2.5 Porter’s Fiver Forces Analysis 35
3 Segmentation of Global Market by Component 39
3.1 Market Overview by Component 39
3.2 Hardware 41
3.2.1 Headsets 43
3.2.2 Combat Tools 44
3.2.3 Hand Gloves 45
3.2.4 Hearing Aids 46
3.2.5 Mannequins 47
3.2.6 Gaming Consoles 48
3.2.7 Other Hardware 49
3.3 Software & Service 50
4 Segmentation of Global Market by Product Type 51
4.1 Market Overview by Product Type 51
4.2 Conventional Virtual Training 53
4.3 Virtual Reality Based Training 54
5 Segmentation of Global Market by End User 55
5.1 Market Overview by End User 55
5.2 Education 57
5.3 Entertainment 58
5.4 Defense & Security 59
5.5 Civil Aviation 60
5.6 Healthcare & Medical Industry 61
5.7 Other End Users 62
6 Segmentation of Global Market by Region 63
6.1 Geographic Market Overview 2020-2027 63
6.2 North America Market 2020-2027 by Country 67
6.2.1 Overview of North America Market 67
6.2.2 U.S. 70
6.2.3 Canada 73
6.2.4 Mexico 75
6.3 European Market 2020-2027 by Country 77
6.3.1 Overview of European Market 77
6.3.2 UK 80
6.3.3 France 82
6.3.4 Germany 84
6.3.5 Spain 86
6.3.6 Italy 88
6.3.7 Russia 90
6.3.8 Rest of European Market 92
6.4 Asia-Pacific Market 2020-2027 by Country 94
6.4.1 Overview of Asia-Pacific Market 94
6.4.2 China 97
6.4.3 Japan 99
6.4.4 India 102
6.4.5 Australia 104
6.4.6 South Korea 106
6.4.7 Rest of APAC Region 108
6.5 South America Market 2020-2027 by Country 110
6.5.1 Argentina 113
6.5.2 Brazil 115
6.5.3 Chile 117
6.5.4 Rest of South America Market 119
6.6 MEA Market 2020-2027 by Country 120
6.6.1 UAE 123
6.6.2 Saudi Arabia 125
6.6.3 South Africa 127
6.6.4 Other National Markets 129
7 Competitive Landscape 130
7.1 Overview of Key Vendors 130
7.2 New Product Launch, Partnership, Investment, and M&A 133
7.3 Company Profiles 134
ANSYS, Inc. 134
BAE Systems 136
CAE Inc. 137
Cubic Corporation 138
Kratos Defence & Security Solutions, Inc. 139
L-3 Link Simulation & Training 140
Laerdal Medical Corporation 141
Lockheed Martin Corporation 142
ON24, Inc. 143
QinetiQ Group PLC 144
Saab AB 145
The DiSTI Corporation 146
Related Reports and Products 147
Research Methodology:
Virtual Training and Simulation Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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