Artificial Intelligence In Military Market

Market Synopsis:

The Global Artificial Intelligence In Military Market valued at USD 6.62 Billion in the year 2021 and is projected to reach a value of USD 13.71 Billion by the year 2028. The Global Market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 12.9% over the forecast period.

The growth of Artificial Intelligence In Military sector is mainly attributed to the growth in the development of Artificial Intelligence integrated systems and the increasing adoption of cloud-based high-performance computers and applications. Moreover, the increase in government initiatives and funding for the defense sector in major countries to advance AI capabilities, and the development of specialized AI chips in the market are projected to fuel the growth of Artificial Intelligence In Military Market in the coming years. The increasing adoption of Artificial Intelligence in AI-powered cybersecurity and growth in the threat of cyber-attacks is expected to increase the demand for Artificial Intelligence In Military sector during the forecast period. The integration of quantum computing in Artificial Intelligence and the rise in the acceptance of AI in predictive maintenance in military platforms are expected to provide substantial opportunities for the growth of Artificial Intelligence In Military Market in upcoming years. Besides, military budget restraint in emerging economies and deficiency of protocols and standards for the utilization of Artificial Intelligence In Military applications are the prime factors that are hampering the growth of Artificial Intelligence In Military Market during the forecast period. However, companies are exploring cost-effective and innovative hardware solutions that can efficiently improve the performance of AI also rhythm in the military sector, this is the important factor driving the deployment of Artificial Intelligence In Military sector in the years to come.

Market Segmentation:

Artificial Intelligence In Military Market is segmented on the basis of offering, application, technology, platform, and installation. Based on offerings the market is segmented as Hardware, Software, and Services. On the basis of application, the market is segmented as Warfare Platform, Cyber Security, Logistics & Transportation, Surveillance & Situational Awareness, Command & Control, Battlefield Healthcare, Simulation & Training, nuclear, Threat Detection, Biological and Chemical (NBC) Scenario Monitoring, Ammunition Testing, Information Processing, Fund Allocation, Manpower Management, predictive maintenance, navigation, communications, and fire monitoring). Based on technology the market is segmented as Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Intelligent Virtual Agent (Iva) /Virtual Agents, Others (Speech Recognition and Emotion Recognition). On the basis of platform, the market is segmented as Land, Airborne, and Space. On the basis of installation, the market is segmented as New Procurement and Upgradation.