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Artificial Intelligence In Military Market

Artificial Intelligence In Military Market

Artificial Intelligence In Military Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

147

Base Year:

2021

Date

Apr - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1446

Segments Covered
  • By Offering Hardware, Software, Services
  • By Application Warfare Platform, Cyber Security, Logistics & Transportation, Surveillance & Situational Awareness, Command & Control, Battlefield Healthcare, Simulation & Training, Information Processing, Threat Detection, Nuclear, Biological, and Chemical (NBC) Scenario Monitoring, Ammunition Testing, Fund Allocation, Manpower Management, Predictive Maintenance, Navigation, Communications, and Fire Monitoring
  • By Technology Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Intelligent Virtual Agent (Iva) /Virtual Agents, Others
  • By Platform Land, Airborne, Space
  • By Installation New Procurement, Upgradation
  • By Region North America, Asia Pacific, Europe, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 6.62 Billion
Revenue 2028Revenue 2028: USD 13.71 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 12.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Artificial Intelligence In Military Market Share

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.

Artificial Intelligence In Military Market Size, 2021 To 2028 (USD Billion)

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.

Below tree is interactive. You can click the nodes to get more information.

The Space Component is Projected to Grow at the Highest CAGR Within Platforms

On the basis of platform, the space segment is expected to hold the largest CAGR of Artificial Intelligence In Military Market during the forecast period. Space artificial intelligence includes different satellite sub-systems that create a backbone of different communication systems. The amalgamation of AI with space platforms empowers effective communication amid spacecraft and ground stations which is expected to drive the growth of Artificial Intelligence In Military Market in the coming years.

The Software Offering to Hold the Largest Share

Based on the offering, the software segment is projected to acquire the highest CAGR during the forecast period. The growth of this segment is attributed to the significance of AI software in establishing the IT framework to avoid occurrences of security breaks. The technological advancement in artificial intelligence has resulted in the development of innovative AI software and linked software development tools which are predicted to drive AI in the military sector in the years to come. The AI software merged in computer systems is responsible for carrying out complex operations, it creates the data received from hardware systems in order to produce a smart response.

North America Dominates the Global Artificial Intelligence In Military Market

North America region holds the largest share of Artificial Intelligence In Military Market. The growth of the region is mainly attributed to increasing investments in artificial intelligence technologies by countries such as Canada and US in the region. Majorly US is gradually investing in AI systems to maintain combat superiority and overcome the risk of possible threats to computer networks, and the US is planning to increase its spending on AI in the military to acquire a competitive edge over other country.

The Asia Pacific is Projected as the Fastest-Growing Region

The Asia Pacific is expected to witness the fastest growing CAGR in the Global Artificial Intelligence In Military Market during the forecast period. The growth of this region is attributed to rapid military transformations and increasing demand for AI from emerging economies like India and China. The advancements in AI-based weapons in China have contributed to the growth of the market in this region. Moreover, North America is anticipated to grow considerably during the forecast period. The growth in this region can be mainly attributed to the presence of prominent defense manufacturers in the market.

Competitive Landscape:

The key market players are adopting advanced strategies to boost market growth and increase their market presence. Some of the key players in the market are BAE Systems Plc. (UK), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Thales Group (US), L3Harris Technologies Inc. (US), Rafael Advanced Defense Systems (Israel), IBM (US) and others.

Segmentation of the Global Artificial Intelligence In Military Market:

Parameter Details
Segments Covered
  • Offering (Hardware, Software, Services)
  • Application (Warfare Platform, Cyber Security, Logistics & Transportation, Surveillance & Situational Awareness, Command & Control, Battlefield Healthcare, Simulation & Training, Information Processing, Threat Detection, Nuclear, Biological, and Chemical (NBC) Scenario Monitoring, Ammunition Testing, Fund Allocation, Manpower Management, Predictive Maintenance, Navigation, Communications, and Fire Monitoring)
  • Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Intelligent Virtual Agent (Iva) /Virtual Agents, Others )
  • Platform (Land, Airborne, Space)
  • Installation (New Procurement, Upgradation)
  • Region (North America, Asia Pacific, Europe, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • BAE Systems Plc. (UK)
  • Northrop Grumman Corporation (US)
  • Raytheon Technologies Corporation (US)
  • Lockheed Martin Corporation (US)
  • Thales Group (US)
  • L3Harris Technologies Inc. (US)
  • Rafael Advanced Defense Systems (Israel)
  • IBM (US)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Artificial Intelligence In Military Market to Reach Valuation of USD 13.71 Billion by 2028 - The rising Adoption of Cloud-Based High-Performance Computers and Applications is Driving the Market Growth
In terms of revenue, the Global Artificial Intelligence In Military Market is expected to reach USD 13.71 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 12.9% from 2022 to 2028. The growth of Artificial Intelligence In Military Market sector is mainly attributed to the growth in...
FAQ
Frequently Asked Question
  • The global Artificial Intelligence In Military valued at USD 6.62 Billion in 2020 and is expected to reach USD 13.71 Billion in 2028 growing at a CAGR of 12.9%.

  • The prominent players in the market are BAE Systems Plc. (UK), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Thales Group (US), L3Harris Technologies Inc. (US), Rafael Advanced Defense Systems (Israel), IBM (US).

  • The market is project to grow at a CAGR of 12.9% between 2021 and 2028.

  • The driving factors of the Artificial Intelligence In Military include

    • Increased government spending on defense to improve AI capabilities

  • North America was the leading regional segment of the Artificial Intelligence In Military in 2020.