Artificial Intelligence (AI) for military market size reached USD 6.50 billion in 2020 and is expected to register a revenue CAGR of 13.4% during the forecast period, according to latest analysis by Emergen Research. Increasing hostility and terrorism and political instability are expected to boost market revenue growth. Additionally, increasing government expenditure on research & development of AI enabled military weapons is expected to support market growth between 2021 and 2028. Currently, rising geopolitical tensions among countries and increasing Chinese actions are propelling various countries to modernize military technology using AI. Integrating AI will enable countries to conduct better surveillance in order to detect and prevent threats. Similarly, AI technology can be used to process a large amount of data and facilitate better decision-making during times of conflict. These are some major factors driving growth of the global AI for military market revenue.
Furthermore, the report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the Artificial Intelligence in Military market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Artificial Intelligence in Military market.
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Some Key Highlights From the Report
- Cyber security segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. Development of new tools and technologies have led to an inclining rate of cybercrimes globally. Similarly, there has been a significant increase in state-sponsored cyberattacks and private and government agencies are gradually adopting AI-based tools that can be used to predict, prevent, and respond to cyber threats efficiently.
- Deep learning segment is expected to registera significantly robust revenue growth rate over the forecast period. This growth can be attributed to increasing need for more advanced solutions for processing large volumes of big and development of AI algorithms for better decision-making. Also, development of intelligent systems to detect threats during real life combat situations would propel growth of this segment.
- The market in North America is expected to account for largest revenue share over the forecast period due to robust presence of key market players, including Lockheed Martin Corporation, NVIDIA Corporation, and BAE Systems, Inc. among others in developed countries in the region.
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Artificial Intelligence in Military Market Segmentation
Emergen Research has segmented global AI for military market on the basis of offering, platform, application, technology, and region:
- Offering Outlook (Revenue, USD Billion; 2018–2028)
- Artificial Intelligence Solutions
- Artificial Intelligence Platforms
- Artificial Intelligence Solutions
- Software Assistance
- Upgradation & Maintenance
- Deployment & Integration
- Platform Outlook (Revenue, USD Billion; 2018–2028)
- Autonomous Combat Vehicles
- Unmanned Ground Vehicle
- Autonomous Combat Robots
- Unmanned Maritime Vehicles
- Anti-Missile Technology
- Ship Navigation Systems
- Unmanned Aerial Vehicles
- Aircraft Maintenance
- Cognitive Electronic Warfare
- Satellite Data Processing
- Intelligent Navigation Systems
- AI Assistant Robots
- Space Exploration
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Reconnaissance and Intelligence gathering
- Surveillance and Counterinsurgency
- Information Processing
- Cyber Security
- Threat Analysis
- Warfare Simulation
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Machine Learning
- Deep Learning
- Computer Vision
- Smart Quantum Technology
- Natural Language Processing
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report also studies the key companies of the Artificial Intelligence in Military market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some Key players analyzed in the report are:
Lockheed Martin Corporation, NVIDIA Corporation, BAE Systems, Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, General Dynamics Corporation, Textron Inc., SparkCognition Government Systems, Arkray, Inc., and Leidos Inc.
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Artificial Intelligence in Military market?
What are the key product types and applications of the Artificial Intelligence in Military industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Artificial Intelligence in Military market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Artificial Intelligence in Military Market by 2028?
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