Metaverse in Defense and Aerospace Industry Detailed Analysis- Market size, TAM, SAM, Trends , Use Cases, Investment Opportunity and Forecast
Metaverse in Defense and Aerospace
Possibility of metaverse are endless and the time is not far when two countries will fight wars in metaverse. In that case, there will be no loss of life and property as the countries will only destroy or capture the virtual asset, without harming the real-world objects and lives. Well, this might sound a bit erratic now, but just imagine the amount of damages this is going to prevent.
Well, leaving the above storyline aside, metaverse in defense has already made its way in design, manufacturing and training. Top defense manufacturers like Lockheed Martin are making use of metaverse in manufacturing and designing their products. Moreover, it has also become must for the governments to invest in AR/VR technologies, and immersive trainings of their defense forces. The defense industries in various countries are already creating virtual simulations of the real-world scenarios to train professionals and let them experience the tough situations on various real scenario aspects. In 2021, the United States spent over $XX billion on AR/VR technology.
Metaverse is a highly discussed word in the digital world today. While there are sectors like gaming and entertainment that are the forerunners in this field, the technology is making its way in many verticals as well. Military, defense and aerospace industry is starting to explore this technology primarily for the training purposes. The industry is already using virtual reality technologies in areas like training, strategic planning, design & manufacturing and similar others. Metaverse will take all these use cases to the next level where immerse virtual reality will be used to simulate actual world and objects and a seamless interoperability will exist between the real and virtual world. Defense and aerospace metaverse market will grow rapidly in coming years as the technology has numerous benefits that we will discuss below.
AR and VR Technology and Metaverse in Defense and Aerospace
In 2021, the military & defense metaverse market size stands at $XX billion and this will swell to $XX billion by 2030. Metaverse is going to be a very important driver in the growth story. Let us see what type of AR/VR solutions are in demand presently:
Lockheed Martin uses metaverse technology to design and develop their products in a virtual environment prior to actually building the same in the real world. The company makes use of digital spaces where individuals can enter in the form of avatars, design and build architectures and test equipment and technologies. Moreover, multiple individuals can collaborate, walk through virtual objects and make alterations in design as per the requirements. Using this immersive technology allows the company to greatly enhance the process, save costs and time.
Design and manufacturing in the defense and aerospace industry is leveraging the immersive VR technology. Hi tech manufacturing solutions are gaining adoption which leverage virtual reality to develop equipment prototypes and virtual working labs. Metaverse will further lead to advancements and virtual manufacturing environments will be used to optimize manufacturing, production planning and testing. For example, a group of people at different locations will be able to enter a single virtual space and test a military armored vehicle by actually testing its defense capabilities.
Immersive reality-based trainings already have immense popularity in the defense and aerospace sector. Companies like Varmada are providing VR based on demand, personalized training that are based on immersive reality. Metaverse will be a further advanced stage of these immersive reality-based training solutions which will allow group trainings and people to interact and touch each other in digital space and perform tasks in collaboration.
- Precision targeting
- Situational awareness
Metaverse will take the Defense and Aerospace AR/VR to the next level
Metaverse has just started in the defense and aerospace sector and market players and investment firms seem to be very interested in this.
“Metaverse technology will lead to humongous savings in military trainings. The metaverse technology will simulate real world situations and make soldiers warfare ready. Moreover, the risk of injuries during trainings will also be reduced significantly.”
Why is Metaverse Important for Military & Defense
Top Defense Contractors Leveraging Metaverse
- Lockheed Martin
- BAE Systems
- Northrop Grumman
- Other Companies
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