The global artificial intelligence in defense market share worth $13.15 billion by 2028, at a growing CAGR of 11.7% from 2023 to 2028.
Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) — According to a new report on “Artificial Intelligence in Defense Market Size and Forecast (2023–2028), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Component (Hardware, Software, Services); Technology (Advanced Computing, AI Systems, Learning and Intelligence), Platform (Land, Air, Naval); Application (Cyber Security, Battlefield Healthcare, Logistics & Transportation, Warfare Platform, Others)” the market in terms of revenue was estimated to be worth $6.91 billion in 2022 and is poised to reach $13.15 billion by 2028, growing at a CAGR of 11.7% from 2023 to 2028.
The growth of the artificial intelligence in defense market is driven by growing adoption of artificial intelligence in unmanned aerial vehicles and increasing government spending on defense. However, growing development of robots using artificial intelligence.
Download Sample PDF Brochure: https://www.theinsightpartners.com/sample/TIPTE100001303/
Global Artificial Intelligence in Defense Market Scope:
Report Coverage | Details |
Market Size Value in | US$ 6.91 billion in 2022 |
Market Size Value by | US$ 13.15 billion by 2028 |
Growth rate | CAGR of 11.7% from 2023 to 2028 |
Forecast Period | 2023-2028 |
Base Year | 2022 |
Segments covered | Component, Technology, Platform, Application, and Geography |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
The adoption of artificial intelligence (AI) technology is anticipated to revolutionize the defense landscape globally. North America is focused on strengthening its defense sector by increasing its military spending and incorporating advanced technologies in its defense systems to gain a competitive advantage in warfare. The US government is boosting its investments in artificial intelligence in defense systems to continue its military dominance and mitigate the risk of cyberattacks on computer systems. With the rise of country-to-country wars, defense services are also improving, leading to the increased deployment of powerful AI-enabled weapon systems. Military forces are focusing on the integration of cutting-edge technologies into existing systems to improve their efficiency. Governments of various countries are investing a significant amount in updating their defense system. For instance, China increases its military expenditure every year to develop edge-cutting technologies, making it the biggest competitor of the US, according to the US National Security Commission on Artificial Intelligence 2021 final report. Thus, the rise in military expenditure across Asia Pacific propels the artificial intelligence in defense market growth.
The artificial intelligence in defense market in Europe is attributed to the presence of several major players such as Thales SA and BAE Systems. Also, significant investments made by the European government to procure technologically advanced systems to modernize and improve their military performance on the battlefield boost the artificial intelligence in defense market growth. For instance, governments of the EU members are focused on developing multilingual conversational artificial intelligence-based systems to cater to the defense needs involving transcription, translation, and interaction in different languages. Thus, the growing incorporation of AI technology in defense solutions contributes to the artificial intelligence in defense market growth in Europe.
Factors such as the growing adoption of AI in unmanned aerial vehicles and high government spending on defense to improve AI capabilities are influencing the growth of artificial intelligence in defense market. Moreover, the incorporation of quantum computing in artificial intelligence and the growing development of robots using AI are among other factors contributing to the growth of artificial intelligence in defense market.
The artificial intelligence in defense market, by technology, is segmented into advanced computing, AI systems, and learning and intelligence. Advanced computing technology is used to design and develop computing hardware and software, including modern hardware designs, ranging from handheld calculators to supercomputers and auxiliary equipment. Advanced computer capabilities are being deployed to solve a large number of complex research and engineering problems, many of which are data-intensive and require complex computing. The demand for advanced computing systems is increasing for systems of all sorts and capabilities, from single-commodity nodes to applications requiring thousands of cores; systems with rapid connectivity; and systems with significant amounts of memory.
Order a Copy of this Report at: https://www.theinsightpartners.com/buy/TIPTE100001303/
Global Artificial Intelligence in Defense Market: Competitive Landscape and Key Developments
Fujitsu; Lockheed Martin; Honeywell International; Safran; Raytheon Technologies Corporation; BAE Systems plc; IBM Corporation; Leidos; Charles River Analytics, Inc.; General Dynamics Information Technology Inc; Shield AI; SparkCognition, Inc.; and Thales Group are among the key artificial intelligence in defense market players profiled during this study. In addition, several other important market players were studied and analyzed during the course of this market study to get a holistic view of the market and its ecosystem.
Recent Developments:
Raytheon Technologies Corp has been supporting a massive US Department of Defense initiative, which would make tactic a thing of the distant past. The company is developing data-centric technologies that are interoperable and open to deliver the right data at the right time so military commanders can make the right decisions faster.
The unmanned surface vessel (USV) is making way for the US Navy toward recreational yachting. ‘Superyacht’s AI uses thermal, infrared, and vibration sensors to detect mechanical issues, and its automated features helps in detecting smoke, fire, and flooding. The sensors in the system detects temperature changes and changes in the engine room.
Go through further research published by The Insight Partners:
Artificial Intelligence in Marketing Market – Global Analysis and Forecast to 2028
Image Recognition Market – Global Analysis and Forecast to 2030
Artificial Intelligence (AI) in Robotics Market – Global Analysis and Forecast to 2030
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/artificial-intelligence-in-military-market
