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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

Published Date : 29-Nov-2024

Pages: 119

Formats: PDF

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).

North America Virtual Training & Simulation Market

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.

Free Valuable Insights: The Virtual Training & Simulation Market is Predict to reach USD 1.1 Trillion by 2031, at a CAGR of 12.7%

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
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
3.2 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
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

List of Figures
FIG 1 Methodology for the research
FIG 2 North America Virtual Training & Simulation Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Virtual Training & Simulation Market
FIG 4 KBV Cardinal Matrix
FIG 5 Market Share Analysis, 2023
FIG 6 Key Leading Strategies: Percentage Distribution (2020-2024)
FIG 7 Key Strategic Move: (Product Launches and Product Expansions: 2021, Nov – 2024, Oct) Leading Players
FIG 8 Porter’s Five Forces Analysis – Virtual Training & Simulation Market
FIG 9 North America Virtual Training & Simulation Market share by Component, 2023
FIG 10 North America Virtual Training & Simulation Market share by Component, 2031
FIG 11 North America Virtual Training & Simulation Market by Component, 2020 - 2031, USD Million
FIG 12 North America Virtual Training & Simulation Market share by End User, 2023
FIG 13 North America Virtual Training & Simulation Market share by End User, 2031
FIG 14 North America Virtual Training & Simulation Market by End User, 2020 - 2031, USD Million
FIG 15 North America Virtual Training & Simulation Market share by Offering, 2023
FIG 16 North America Virtual Training & Simulation Market share by Offering, 2031
FIG 17 North America Virtual Training & Simulation Market by Offering, 2020 - 2031, USD Million
FIG 18 North America Virtual Training & Simulation Market share by Country, 2023
FIG 19 North America Virtual Training & Simulation Market share by Country, 2031
FIG 20 North America Virtual Training & Simulation Market by Country, 2020 - 2031, USD Million
FIG 21 SWOT Analysis: CAE Inc.
FIG 22 SWOT Analysis: L3Harris Technologies, Inc.
FIG 23 Recent strategies and developments: Lockheed Martin Corporation
FIG 24 SWOT Analysis: Lockheed Martin Corporation
FIG 25 Recent strategies and developments: BAE SYSTEMS PLC
FIG 26 SWOT Analysis: BAE SYSTEMS PLC
FIG 27 SWOT Analysis: RTX Corporation
FIG 28 Recent strategies and developments: ANSYS, Inc.
FIG 29 SWOT analysis: ANSYS, Inc.

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