VirTra (VTSI) 2024 Annual Gateway Conference summary

Market overview and expansion

• Provides simulation-based training for law enforcement, military, and security, with recent expansion into adjacent markets and healthcare.

• Law enforcement total addressable market (TAM) is $650 million; military expansion could raise TAM to $1.5–2 billion.

• Currently operates in 42 countries, with a customer retention rate of 96–97%.

• Aggressively targeting untapped military and healthcare markets, following legislative trends and grant opportunities.

• STEP program and new VR headset enable access to smaller agencies and recurring revenue streams.

Product innovation and technology

• Offers immersive simulators (V-100, V-180, V-300) and VR headsets, with prices ranging from $75,000 to $800,000 depending on configuration.

• Recent product launches include ProTruss (reducing truss costs by 70%) and TrackCam (reducing camera costs by 80%).

• All certified training scenarios are compatible across platforms, leveraging a large volumetric video capture studio for realistic content.

• Accessories include realistic firearms, tasers, OC spray, and Threat-Fire devices for enhanced realism.

• Integration of gaming technology and AR/voice interaction planned for future product enhancements.

Training and certification

• Provides the most certified training courses in the industry, with 35 states covered and over 50 certified courses.

• Training focuses on de-escalation, use of force, and adaptive decision-making, incorporating Force Science Institute research.

• Certified courses are available on all platforms, including VR headsets, and support continuing education requirements.

• Maintenance programs include regular scenario updates and full replacement of key parts.

• Expanding into healthcare training to address new legal requirements for healthcare workers.