Defense XR market is anticipated to grow at a CAGR of 32.8% during the forecast period. The overall growth of the market is mainly driven by rapid technological advancements in AR, VR, and MR technology, growing applications, and collaborations between end-users and market players mainly in the military. Additionally, with growing application, the industry has seen significant spike in investments from major technology market players, investors, government organizations among others which is as major factor contributing to growth of the market. For instance, in March 2022, Qualcomm launched the $100 million Snapdragon Metaverse Fund which is aimed at helping XR developers and companies building the foundational technologies and content ecosystem to enable the metaverse.
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The global defense XR market is segmented by technology type, end-user, and application. By technology type, the market is sub-segmented into VR, AR, and MR. Based on end-user, the market is sub-segmented into private and government. Based on the application, the market is sub-segmented into mission planning and analysis, training and simulation, maintenance and repairs, and other applications such as medical treatment, and R&D. Among applications, the demand for XR is growing significantly for training and simulation mainly due to its capacity to improve training efficacy, cost-effectiveness, and overall military readiness. Additionally offers immersive and realistic environments similar to actual combat situations allowing military personnel to engage in critical training exercises and improve their skills within a secure and controlled environment. Additionally, XR offers the creation of diverse and dynamic training scenarios, enabling soldiers to practice a broad spectrum of mission-critical tasks and decision-making processes. By integrating XR into military training, the dependence on live exercises is reduced, which helps to mitigate associated risks and expenses. Also, it helps collaborate for joint exercises for geographically dispersed units, providing a more interconnected and versatile training approach. Considering its advantages, military organizations globally are increasingly adopting XR technologies as a part of their military strategies. For instance, in November 2023, HGXR integrated its XR platform with advanced training tools, including a simulated M4 carbine, replicating weapons used by the German army.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Defense XR Market by Technology Type
- Virtual Reality (VR)
- Augmented Reality (AR)
- Mixed Reality (MR)
Global Defense XR Market by End-User
- Private
- Government
Global XR Market by Application
- Mission Planning and Analysis
- Training and Simulation
- Maintenance and Repairs
- Other (Medical Treatment, R&D)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Airbus SE
- BAE Systems plc
- Canadian Aviation Electronics Ltd.
- Devden Creative Solutions Pvt.Ltd
- Dimension NXG Pvt. Ltd.
- Elbit Systems Ltd.
- Google LLC
- Harris Corp.
- Leonardo DRS
- Northrop Grumman Corp.
- Raytheon Technologies Corp.
- Safran SA
- Science Applications International Corp.
- Strivr Labs, Inc.
- Taqtile, Inc.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the defense XR market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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