Immersive Technology in Military & Defense Market Statistics, Business Opportunities, Competitive Landscape and Industry Analysis Report by 2032

Immersive Technology in Military & Defense Market Statistics, Business Opportunities, Competitive Landscape and Industry Analysis Report by 2032

The Use of Immersive Technology in the Military and Defense Market Continues to Grow

Immersive technologies like augmented reality (AR), virtual reality (VR), and mixed reality (MR) are revolutionizing industries from healthcare to manufacturing. Now, these emerging technologies are also making an impact in the military and defense market. With the ability to enhance training, assist operations, and improve battlefield awareness, immersive technology adoption continues to increase within defense organizations around the world.

Market Overview

The immersive technology in military & defense market is projected to grow from USD 8.26 Billion in 2023 to USD 59.37 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 24.5% during the forecast period (2023 – 2032).

North America is expected to account for the largest market share throughout the forecast period. Asia Pacific is anticipated to see the fastest growth over the next six years as countries like China and India modernize their militaries. Market growth will also be driven by rising defense budgets in the Middle East.

Key Market Segments

The immersive technology in defense market is segmented by technology, platform, application, component, and region.

By technology, the market is categorized into augmented reality, virtual reality, and mixed reality. The VR segment held the largest share in 2022, while AR is poised to see the highest CAGR over the forecast period.

Based on platform, the market is divided into land, naval, and airborne. Land platforms, like combat vehicles and infantry units, accounted for the biggest share in 2022. Airborne platforms, including fighter jets and helicopters, will see strong growth.

The main application areas of immersive technology in defense are training and simulation and warfighting operations. Training and simulation dominated the market in 2022. Meanwhile, the operations segment will exhibit robust CAGR through 2028.

In terms of components, the market is bifurcated into hardware, software, and services. Hardware like VR headsets and AR glasses held the largest share. However, software and services will grow at a faster pace.

Key Players

Some of the major companies providing immersive technology for the military and defense industry include:

  • Microsoft Corporation
  • Oculus VR
  • Magic Leap
  • Google
  • Dynabook Americas
  • DAQRI
  • EON Reality
  • Facebook
  • HTC Corporation
  • Seiko Epson Corporation

These players are focused on developing cutting-edge AR, VR, and MR technologies tailored for military uses like simulation training and battlefield situational awareness. Strategic partnerships with defense contractors and militaries are allowing rapid adoption.

Market Drivers

Numerous factors are fueling the use of immersive technology in the military and defense sphere:

  • Increased defense spending globally is providing budgets for adopting AR, VR and MR solutions.
  • The need for more realistic and effective training without real-world risks is driving the use of simulations.
  • Immersive technology enhances situational awareness for soldiers, pilots, medics, and more during active operations.
  • VR and AR can provide critical visual data during maintenance, repairs, and manufacturing.
  • Militaries want to leverage innovative technologies like 5G and cloud computing alongside immersive solutions.
  • Using VR and AR for recruitment, assessments, and onboarding saves costs.

With militaries prioritizing modernization and soldier welfare, the appetite for impactful immersive technologies will continue to grow. Ongoing research is expanding use cases, while costs gradually fall, removing barriers to adoption. The unique benefits provided by extended reality solutions make them integral to the future battlefield.

Browse In-depth Market Research Report (100 Pages, Charts, Tables, Figures) on Immersive Technology in the Military and Defense Market – 
https://www.marketresearchfuture.com/reports/immersive-technology-in-military-defense-market-12150

Industry News

  • In 2022, the U.K. Ministry of Defense announced a $2.3 million contract with Lenovo to supply augmented reality headsets for training.
  • The U.S. Army is prototyping a Mixed Reality Headset developed by Microsoft using Azure cloud services to enable real-time data access.
  • Boeing recently acquired a 30% stake in mixed reality training software company SparkCognition to enhance aircrew training solutions.
  • The Indian military has released a Request for Information to procure over 100,000 VR headsets to modernize training across the Army, Air Force and Navy.

As immersive technology continues maturing, global militaries will ramp up investment and integrate augmented, virtual and mixed reality to enhance capabilities across applications. The market is poised for strong growth as these solutions become vital to giving defense organizations a strategic edge.

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