Growth Factors of Virtual Reality in Aerospace and Defense Market
The Virtual Reality in Aerospace and Defense Market size was valued at USD 92.0 USD billion in 2023, and the market is now projected tgrow t10.3 USD billion by 2032, exhibiting a CAGR of 17.0% during the forecast period of 2023-2030.
The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Virtual Reality in Aerospace and Defense Market growth.
In the military, digital transformation is the use of updated technology tenhance procedures and general configurations. It takes many forms, including automating a laborious process, creating engaging experiences with VR and AR, leveraging AI tmake well-informed judgments, and employing cloud services tstreamline data management. Defense digital transformation is critical because it may improve military operations' efficiency and productivity. Moreover, digital technology can be utilized tboost military training, supply chain management, logistics, and the development of new armaments and defense systems. The goal of defense digital transformation is tcreate a more competent and flexible military that can respond ta wide variety of challenges. These particular growth driving factors have been recorded tattribute the Virtual Reality in Aerospace and Defense Market Share.
It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. The metaverse has created many opportunities for digital transformation, especially through virtual, augmented, and mixed realities. Defense and aerospace companies are spending a lot of time developing AR/VR solutions for aircraft maintenance, repair, and refurbishment as well as flight training, and they are enjoying the full potential of the metaverse by simulating realistic combat scenarios.
Comprehensive Analysis of Virtual Reality in Aerospace and Defense Market
The segmentation of this particular market has been divided and then further subdivided intvarious categories. The market is divided intseveral categories based on how they are implemented, including VR simulators, apps, head-mounted displays, head-up devices, and others (handheld devices). Design and manufacturing, simulation and training, maintenance support, remote collaboration, and others (passengers’ entertainment) are the market segments based on application. The market is separated inttwsegments based on end users: defense and civil/commercial. These particular segmentations have been categorized intsuch groups sthat their attribution tthe overall revenue systems are properly recorded studied sas tdetermine which is the leading and most beneficial segment of all.
Because of the early acceptance and extensive usage of immersive technology in the aerospace and defense industries in the region, North America has the largest market share. Increased investment in defense-related virtual reality (VR) systems in the United States and Canada has alshelped tincrease the market share of VR in aerospace and defense. Market expansion is fueled by the region's robust technological infrastructure, significant defense expenditure, and technological breakthroughs. The region is expected tmaintain a significant proportion during the projected period.
Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Vuzix Corporation (U.S.), Collins Aerospace (U.S.), Tecknotrove (India), ESI Group (France), Vection Technologies (Australia), AIRBUS (France), BAE Systems (U.K.), CAE Inc. (Canada), EON Reality (U.S.), and WorldViz, Inc. (U.S.).
In August 2024, This particular company has attributed the market growth in terms of revenue and shares system. In order timplement XR and AI methods in aerospace manufacturing, Jeh Aerospace and GridRaster worked together. In order tinspect, train, and work-associate custom cases in aerospace manufacturing, the partnership seeks timprove spatial AI, virtual reality (VR), and augmented reality (AR) competencies. Jeh Aerospace plans tenhance a number of aspects of its aerospace module manufacturing setups by utilizing the Dynamic XR platform and the Spatial AI of GridRaster.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 17.0% from 2024 t2032
Unit Value (USD Million)
Segmentation By Mode of Implementation
Head-mounted displays/Helmet-mounted Displays
Head-up Devices
VR Simulators
Apps
Others (Handheld Devices)
By Application
Design & Manufacturing
Simulation & Training
Maintenance Assistance
Remote Collaboration
Others (Passengers' Entertainment)
By End-user
Civil/Commercial
Defense
By Region
North America (By Mode of Implementation, Application, End-user, and Country)
U.S.
Canada
Mexico
Europe (By Mode of Implementation, Application, End-user, and Country)
Germany
U.K.
France
Italy
Spain
Russia
Benelux
Nordics
Rest of Europe
Asia Pacific (By Mode of Implementation, Application, End-user, and Country)
China
India
Japan
South Korea
ASEAN
Oceania
Rest of Asia Pacific
Middle East & Africa (By Mode of Implementation, Application, End-user, and Country)
Turkey
Israel
GCC
North Africa
South Africa
Rest of the Middle East & Africa
South America (By Mode of Implementation, Application, End-user, and Country)
Brazil
Argentina
Rest of South America
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of Generative AI
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Virtual Reality (VR) in Aerospace and Defense Key Players (Top 3 – 5) Market Share/Ranking, 2023
- 5. Global Virtual Reality (VR) in Aerospace and Defense Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Mode of Implementation (USD)
- 5.2.1. Head-mounted displays/Helmet-mounted Displays
- 5.2.2. Head-up Devices
- 5.2.3. VR Simulators
- 5.2.4. Apps
- 5.2.5. Others (Handheld Devices, etc.)
- 5.3. By Application (USD)
- 5.3.1. Design & Manufacturing
- 5.3.2. Simulation & Training
- 5.3.3. Maintenance Assistance
- 5.3.4. Remote Collaboration
- 5.3.5. Others (Passengers' Entertainment, etc.)
- 5.4. By End-user (USD)
- 5.4.1. Civil/ Commercial
- 5.4.2. Defense
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Middle East & Africa
- 5.5.5. South America
- 6. North America Virtual Reality (VR) in Aerospace and Defense Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Mode of Implementation (USD)
- 6.2.1. Head-mounted displays/Helmet-mounted Displays
- 6.2.2. Head-up Devices
- 6.2.3. VR Simulators
- 6.2.4. Apps
- 6.2.5. Others
- 6.3. By Application (USD)
- 6.3.1. Design & Manufacturing
- 6.3.2. Simulation & Training
- 6.3.3. Maintenance Assistance
- 6.3.4. Remote Collaboration
- 6.3.5. Others
- 6.4. By End-user (USD)
- 6.4.1. Civil/ Commercial
- 6.4.2. Defense
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. Europe Virtual Reality (VR) in Aerospace and Defense Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Mode of Implementation (USD)
- 7.2.1. Head-mounted displays/Helmet-mounted Displays
- 7.2.2. Head-up Devices
- 7.2.3. VR Simulators
- 7.2.4. Apps
- 7.2.5. Others
- 7.3. By Application (USD)
- 7.3.1. Design & Manufacturing
- 7.3.2. Simulation & Training
- 7.3.3. Maintenance Assistance
- 7.3.4. Remote Collaboration
- 7.3.5. Others
- 7.4. By End-user (USD)
- 7.4.1. Civil/ Commercial
- 7.4.2. Defense
- 7.5. By Country (USD)
- 7.5.1. United Kingdom
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Benelux
- 7.5.8. Nordics
- 7.5.9. Rest of Europe
- 8. Asia Pacific Virtual Reality (VR) in Aerospace and Defense Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Mode of Implementation (USD)
- 8.2.1. Head-mounted displays/Helmet-mounted Displays
- 8.2.2. Head-up Devices
- 8.2.3. VR Simulators
- 8.2.4. Apps
- 8.2.5. Others
- 8.3. By Application (USD)
- 8.3.1. Design & Manufacturing
- 8.3.2. Simulation & Training
- 8.3.3. Maintenance Assistance
- 8.3.4. Remote Collaboration
- 8.3.5. Others
- 8.4. By End-user (USD)
- 8.4.1. Civil/ Commercial
- 8.4.2. Defense
- 8.5. By Country (USD)
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. South Korea
- 8.5.5. ASEAN
- 8.5.6. Oceania
- 8.5.7. Rest of Asia Pacific
- 9. Middle East & Africa Virtual Reality (VR) in Aerospace and Defense Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Mode of Implementation (USD)
- 9.2.1. Head-mounted displays/Helmet-mounted Displays
- 9.2.2. Head-up Devices
- 9.2.3. VR Simulators
- 9.2.4. Apps
- 9.2.5. Others
- 9.3. By Application (USD)
- 9.3.1. Design & Manufacturing
- 9.3.2. Simulation & Training
- 9.3.3. Maintenance Assistance
- 9.3.4. Remote Collaboration
- 9.3.5. Others
- 9.4. By End-user (USD)
- 9.4.1. Civil/ Commercial
- 9.4.2. Defense
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.2. Israel
- 9.5.3. GCC
- 9.5.4. North Africa
- 9.5.5. South Africa
- 9.5.6. Rest of MEA
- 10. South America Virtual Reality (VR) in Aerospace and Defense Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Mode of Implementation (USD)
- 10.2.1. Head-mounted displays/Helmet-mounted Displays
- 10.2.2. Head-up Devices
- 10.2.3. VR Simulators
- 10.2.4. Apps
- 10.2.5. Others
- 10.3. By Application (USD)
- 10.3.1. Design & Manufacturing
- 10.3.2. Simulation & Training
- 10.3.3. Maintenance Assistance
- 10.3.4. Remote Collaboration
- 10.3.5. Others
- 10.4. By End-user (USD)
- 10.4.1. Civil/ Commercial
- 10.4.2. Defense
- 10.5. By Country (USD)
- 10.5.1. Brazil
- 10.5.2. Argentina
- 10.5.3. Rest of South America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Vuzix Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Collins Aerospace
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Tecknotrove
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. ESI Group
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Vection Technologies
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. AIRBUS
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. BAE Systems
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. CAE Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. EON Reality
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. WorldViz, Inc.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways "
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