DUBLIN--(BUSINESS WIRE)--The "Artificial Intelligence in Military Market by Offering (Software, Hardware, Services), Technology (Machine Learning, Computer vision), Application, Installation Type, Platform, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Artificial Intelligence in military market is estimated at USD 6.3 billion in 2020 and is projected to reach USD 11.6 billion by 2025, at a CAGR of 13.1% during the forecast period.
The Artificial Intelligence in Military market includes major players such as 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), and IBM (US), among others. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. COVID-19 has not affected the Ai in military market growth to some extent, and this varies from country to country. Industry experts believe that the pandemic has not affected the demand for Artificial Intelligence in the military market in defense applications.
Based on platform, the space segment of the Artificial Intelligence in military market is projected to grow at the highest CAGR during the forecast period
Based on platform, the space segment of the Artificial Intelligence in military market is projected to grow at the highest CAGR during the forecast period. The space AI segment comprises CubeSat and satellites. Artificial intelligence systems for space platforms include various satellite subsystems that form the backbone of different communication systems. The integration of AI with space platforms facilitates effective communication between spacecraft and ground stations.
Software segment of the Artificial Intelligence in Military market by offering is projected to witness the highest CAGR during the forecast period
Based on offering, the Software segment is projected to witness the highest CAGR during the forecast period. Technological advances in the field of AI have resulted in the development of advanced AI software and related software development kits. AI software incorporated in computer systems is responsible for carrying out complex operations. It synthesizes the data received from hardware systems and processes it in an AI system to generate an intelligent response. The software segment is projected to witness the highest CAGR owing to the significance of AI software in strengthening the IT framework to prevent incidents of a security breach.
The North American market is projected to contribute the largest share from 2020 to 2025 in the Artificial Intelligence in Military market
The US and Canada are key countries considered for market analysis in the North American region. This region is expected to lead the market from 2020 to 2025, owing to increased investments in AI technologies by countries in this region. This market is led by the US, which is increasingly investing in AI systems to maintain its combat superiority and overcome the risk of potential threats on computer networks. The US plans to increase its spending on AI in the military to gain a competitive edge over other countries.
The North American US is recognized as one of the key manufacturers, exporters, and users of AI systems worldwide and is known to have the strongest AI capabilities. Key manufacturers of Ai systems in the US include Lockheed Martin, Northrop Grumman, L3Harris Technologies, Inc., and Raytheon. The new defense strategy of the US indicates an increase in AI spending to include advanced capabilities in existing defense systems of the US Army to counter incoming threats.
Market Dynamics
Drivers
- Increased Government Spending on Defense to Improve AI Capabilities
- Development of Specialized AI Chips
- Growing Focus on Advanced C4Isr Capabilities
- Increasing Adoption of AI in Unmanned Vehicles
- Increasing Threats of Cyber Attacks
Restraints
- Concerns Over Possibility of Errors in Complex Combat Situations
- Lack of Standards and Protocols for Use of AI in Military Applications
Opportunities
- Incorporation of Quantum Computing in AI
- Increasing Adoption of AI in Predictive Maintenance in Military Platforms
Challenges
- Absence of Backward Analysis
- Lack of Trained Personnel
- Sensitive Nature of Military Data
Companies Mentioned
- BAE Systems plc
- Caci International Inc.
- Charles River Analytics
- Darktrace Limited
- General Dynamics Corporation
- Honeywell International Inc.
- International Business Machines Corp. (IBM)
- L3Harris Technologies, Inc.
- Leidos Holdings Inc. (Leidos)
- Leonardo S.P.A (Leonardo)
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Nvidia Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- Rheinmetall Ag
- Saab Ab
- Safran Sa
- Science Applications International Corp. (SAIC)
- Shield AI
- Soar Technologies Inc.
- Sparkcognition Inc
- SZ Dji Technology
- Thales Group
- The Boeing Company
For more information about this report visit https://www.researchandmarkets.com/r/acjap9
