As well as this was the launch parameters that i would normally run with arma 3 before this problem happened:

-enableHT -maxMem=3072 -maxVram=2048 -noBenchmark -noLogs -noPause -noSplash -world=empty

Checked system Event Viewer and found this error:

Faulting application name: arma3.exe, version: 1.36.128.579, time stamp: 0x5480321d
Faulting module name: unknown, version: 0.0.0.0, time stamp: 0x00000000
Exception code: 0xc0000096
Fault offset: 0x0254fad9
Faulting process id: 0x1abc
Faulting application start time: 0x01d02df351cb255c
Faulting application path: E:\Archives\OLD PROGRAM FILES\Program Files (x86)\Steam\steamapps\common\Arma 3\arma3.exe
Faulting module path: unknown
Report Id: 9b3dd687-99e6-11e4-b92b-98588a037175