Expanding Reality discusses the rise of virtual reality (VR) and its expanding use in the military. VR has been used for simulation and training purposes by the military since the 1960s. The document outlines the growing VR market, projecting it to be a $35 billion industry by 2026. It also details how the US military's 2019 budget includes $64 billion to be spent on VR capabilities for training and simulation across various military assets. The increased use of VR by the military is allowing for more realistic training exercises using virtual environments.
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Virtual Reality Industry Expansion - A Macroeconomics Executive Business Case Study Project
1. Expanding Reality
The Rise of VR and its Economic Expansion into Military
Business Economics | Group 6
Ken Coleman, Holly Martin, Stella Mitchell, and Dustin Sheffield
1
2. 1790s
1820-30s
Panoramas | Immersive Paintings
Photography | Stereo Imagery
VR’s Beginnings
Capturing Reality Throughout the Ages
1870s
Movies
2-4
4. Industry Expansion
Events Aerospace Medical GamingVideoMilitaryRetailEducation
$35B VR SOFTWARE TOTAL ADDRESSABLE MARKET
Aerospace/Engineering
$4.7
Medical
$5.1
Gaming
$11.6
Real Estate
$2.6
Education
$0.7
Retail
$1.6
Miltary
$1.4
Video
$3.2
Events
$4.1
6-12
5. “The United States Army will always be a lessons
learned organization utilizing After Action Reviews
(AARs) and lessons learned products to improve
our force. But now, VR will give our Army the
ability to conduct tough and realistic training more
often utilizing less money and reduce wear and
tear on equipment resulting in more frequently
trained force and improved readiness.”
- COL Dodson
6. Individual Income Tax
Corporate Income Tax
Custom Duties
Excise Taxes
Securities
US Treasury Bills
US Bonds
International Lending
Defense Spending
Where the Discretionary Budget Comes From
Military
Education
Housing &
Community
International
Affairs
Energy &
Environment
Transportation
Tax Revenue
Government
Borrowing
13
12. Work Citation
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bigthink.com/wikimind/virtual-reality-is-our-savior-a-vision-of-the-future-of-education.
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http://www.goldmansachs.com/our-thinking/pages/technology-driving-innovation-folder/virtual-and-augmented-reality/report.pdf.
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healthcare/.
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playstation-vr.
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basics/federal-budget-101/spending/.
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Releases/News-Release-View/Article/1438798/dod-releases-fiscal-year-2019-budget-proposal/.
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17South, Todd. “New Tech Will Use Virtual Reality to Help EOD 'See' Mine Threats on the Battlefield.” Military Times, Military Times, 3 Apr. 2018,
www.militarytimes.com/news/your-military/2018/03/29/new-tech-will-use-virtual-reality-to-help-eod-see-mine-threats-on-the-battlefield/.
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2016, marketreportsstore.com/the-global-military-simulation-and-virtual-training-market-2016-2026/.
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21Strauss, Karsten. “Virtual Reality Jobs Jump In The Job Market.” Forbes, Forbes Magazine, 11 May 2016,
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