Market study: Live, virtual training will drive DoD training and simulation market to 2021
SAN ANTONIO, Tx. The pace of adoption of live, virtual, constructive or mixed-reality training is picking up and continues to drive investment and innovation in the U.S. Department of Defense (DoD) training and simulation market, according to a recent study from analyst Frost & Sullivan’s Defense Growth Partnership Subscription titled "US DoD Training and Simulation Market, Forecast to 2021."
According to the study, the U.S. Navy is expected to spend the most on training and simulation, between $6 billion and $6.12 billion each year from 2016 to 2021. The major players in the DoD training and simulation market -- including Raytheon, L-3 Technologies, Boeing, Lockheed Martin, Northrop Grumman, Veritas Capital Fund, Cubic Corp, General Dynamics, and CAE, Inc. -- will face competition from such European firms as Saab, Thales, and Leonardo, which have comparable training technologies. The study also predicts that a strong U.S. dollar will mean more partnerships between U.S. and European companies during the study period as U.S. companies maximize their exposure to lucrative European training contracts when foreign military sales (FMS) are deemed too costly.
"New disruptive, innovative technologies such as augmented reality (AR) and virtual reality (VR) devices, immersive motion systems, and artificial intelligence (AI) are transforming how training is tracked, evaluated, and administered,” said Michael Blades, Frost & Sullivan Aerospace & Defense research director. “These technologies can provide individual or group training in a virtual environment while enabling job requirements, personalized training programs, retention, combat readiness, and repetition at a low cost when and where needed.”
The study concludes that as mobile and distributed training capabilities become increasingly important to meet the challenges of high operational tempo and dynamic technological changes, players in the training and simulation industry must continue to develop secure, robust, immersive, and realistic virtual environments while adding live elements as requirements and technology dictate.
To obtain additional information on the Frost & Sullivan DoD training and simulation market forecast, please visit their website.