The global virtual reality in aerospace and defense market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Virtual Reality in Aerospace and Defense Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Training, Maintenance Assistance, Design and Manufacturing, Passengers Entertainment), and Regional Forecast, 2019-2026”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
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The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other virtual reality in aerospace and defense market trends. The report is available for sale on the company website.
List of Key Market Players:
Fortune Business Insights profiles some of the most reputed companies operating in the virtual reality in the aerospace and defense market. They are as follows:
- Magic Leap, Inc.
- Unity Technologies
- Facebook Technologies, LLC.
- NVIDIA Corporation
- NextVR Inc.
- HTC Corporation
- EON Reality, Inc.
“Early Adoption of Virtual Reality Technologies to Augment Market in North America”
The virtual reality in the aerospace and defense market is geographically classified into Asia Pacific, the Middle East and Africa, North America, Europe, and Latin America. Out of these, North America had generated USD 136.3 million in 2018 in terms of revenue. The region is expected to grow remarkably during the forthcoming years owing to the early adoption of virtual reality technology. Additionally, the presence of renowned organizations, namely, Sony, HTC, and Google would augment market growth in this region.
Asia Pacific is set to exhibit a significantly high CAGR on account of enhanced logistics, maturing open sky agreements, and the latest trade relationships. Apart from that, an urgent need for strengthening military equipment by utilizing modern facilities is leading to a rise in the adoption of virtual reality solutions in this region.
Qatar Airways & Rolls-Royce Implement Virtual Reality to Train Engineers
April 2019: The International Air Transport Association (IATA) declared that the number of passengers worldwide is set to double by 2036. It will reach 7.8 Billion. The industry is hence, facing a major challenge of training more engineers to repair and maintain the ever-increasing number of aircraft. To cope up with this challenge, Qatar Airways and Rolls-Royce are incorporating virtual reality into their engineering training programs. The engineers at Qatar Airways were the first ones to receive their training through the Trent XWB engine, Rolls-Royce’s pioneering engine.
View press release for more information @ https://www.marketwatch.com/press-release/virtual-reality-in-aerospace-and-defense-market-key-drivers-industry-share-and-future-growth-demand-analysis-by-2026-2020-06-25
Regional Analysis for Virtual Reality in Aerospace and Defense Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Virtual Reality in Aerospace and Defense Market:
- Executive Summary
- Market Dynamics
- Key Virtual Reality in Aerospace and Defense Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Virtual Reality in Aerospace and Defense Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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