WASHINGTON, April 14, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Artificial Intelligence In Military Market finds that the increase in applications of AI in the military is expediting market growth. Primarily driven by growing spending on defence to improve AI capabilities, the total Global Artificial Intelligence in Military Market is estimated to reach USD 13.71 Billion by 2028.
The Global Market valued at a revenue of USD 6.62 Billion in the year 2021, and expected to grow at a Compound Annual Growth Rate (CAGR) of 12.9%.
Furthermore, the growing technological advancements worldwide is also anticipated to augment the growth of the Global Artificial Intelligence in Military Market, states Vantage Market Research, in a report, titled “Artificial Intelligence In Military Market Size, Share & Trends Analysis Report by Offering (Hardware, Software, Services), by Application (Warfare Platform, Cyber Security, Logistics & Transportation, Surveillance & Situational Awareness), by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), by Platform (Land, Airborne, Space), by Installation (New Procurement, Upgradation), by Region (North America, Asia Pacific, Europe, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Increase in Applications of AI in Military to Fuel Global Artificial Intelligence in Military Market
The increasing applications of AI in the military are expected to fuel the growth of the Artificial Intelligence In Military Market during the forecast period. Artificial Intelligence (AI) has become an important part of every industry including the military & defense industry. Military systems that are integrated with AI are capable of analysing larger volumes of data more efficiently and further help in driving meaningful insights from this data gathered. Artificial intelligence also improves self-regulation, self-control, and self-actuation of combat systems that are used in warfare due to its inherent computing and decision-making capabilities. Further, the advanced AI tech also helps to improve the accuracy of target recognition in the case of complex combat environments. These techniques allow gaining an in-depth understanding of potential operation areas and improves the ability of these systems to identify the position of their targets. Additionally, AI can be integrated with Robotic Ground Platforms (RGPs) and Robotic Surgical Systems (RSS) to offer remote surgical support and evacuation activities in combat environments. Thus, owing to the numerous benefits and applications of artificial intelligence is expected to fuel the adoption of AI-driven systems in the military sector.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Artificial Intelligence in Military market is predicted to grow at a CAGR of roughly 12.9% during the forecast period.
- The Artificial Intelligence in Military market was estimated to be worth roughly USD 6.62 Billion in 2021 and is expected to reach USD 13.71 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Artificial Intelligence in Military market.
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Segmentation of Artificial Intelligence in Military Market:
By offering -(Revenue- USD Million, 2016-2028)
- Hardware
- Software
- Services
By Application-(Revenue- USD Million, 2016-2028)
- 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-(Revenue- USD Million, 2016-2028)
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
- Intelligent Virtual Agent (Iva) /Virtual Agents
- Others
By Platform-(Revenue- USD Million, 2016-2028)
- Land
- Airborne
- Space
By Installation-(Revenue- USD Million, 2016-2028)
- New Procurement
- Upgradation
By region- (Revenue- USD Million, 2016-2028)
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- 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 and Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/artificial-intelligence-in-military-market-1446
Growing Spending on Defense to Improve AI Capabilities to Augment Market Growth
The increase in spending on defense to improve AI capabilities is anticipated to augment the growth of the Artificial Intelligence In Military Market within the estimated period. According to USAspending.gov, the Department of Defense (DOD) had estimated to spend $1.10 Trillion distributed among its 6 agency sub-components. Further, as per Eurostat defence expenditure amounted to 1.3 % of GDP both for the EU and the euro area and the highest levels of total expenditure on defence were observed in Greece with 2.6 % of GDP followed by Latvia and Estonia both with 2.5 % of GDP. As seen from the data, the spending on defense sector in order to improve their defense systems is considerably increasing which in turn is likely to support the growth of the market. However, increasing concerns over possibility of errors in complex combat situations along with lack of standards and protocols for use of AI in military applications may hinder the growth of the market. Moreover, incorporation of quantum computing in AI coupled with increasing adoption of AI in predictive maintenance in military platforms is likely to create immense opportunities in the growth of the market in the years to come.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT and telecom industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Artificial Intelligence in Military Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America to Dominate the Global Artificial Intelligence in Military Market
North America has dominated the Global Artificial Intelligence In Military Market in 2021 and is likely to continue the same trend during the forecast period. The U.S. dominated the North America region in 2021. This is attributable to the rising government investment in artificial intelligence systems in the region. Furthermore, the presence of key manufacturers, exporters, and users of AI systems in the region along with increasing Ai spending to include advanced capabilities is also anticipated to encourage the adoption of artificial intelligence in the military.
List of Prominent Players in the Artificial Intelligence In Military Market:
- 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)
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Artificial Intelligence In Military Market Size, Share & Trends Analysis Report by Offering (Hardware, Software, Services), by Application (Warfare Platform, Cyber Security, Logistics & Transportation, Surveillance & Situational Awareness), by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), by Platform (Land, Airborne, Space), by Installation (New Procurement, Upgradation), by Region (North America, Asia Pacific, Europe, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/artificial-intelligence-in-military-market-484401
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Artificial Intelligence in Military Market?
- How will the Artificial Intelligence in Military Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Artificial Intelligence in Military Market?
- What is the Artificial Intelligence in Military market drivers and restrictions?
- What will be the CAGR and size of the Artificial Intelligence in Military Market throughout the forecast period?
Recent Developments:
February, 2021: BAE Systems announced it is offering a suite of ground-breaking artificial intelligence capabilities and a new data labelling service offering on the Amazon Web Services (AWS) Marketplace for GovCloud (US) to support critical national security missions.
October, 2021: IBM and Raytheon Technologies announced strategic collaboration to develop advanced artificial intelligence, cryptographic and quantum solutions for the aerospace, defense and intelligence industries, including the federal government.
This market titled “Artificial Intelligence in Military Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Offering o Hardware o Software o Services • Application o Warfare Platform o Cyber Security o Logistics & Transportation o Surveillance & Situational Awareness o Command & Control o Battlefield Healthcare o Simulation & Training o Information Processing o Threat Detection o Nuclear, biological, and chemical (NBC) scenario monitoring, ammunition testing, fund allocation, manpower management, predictive maintenance, navigation, communications, and fire monitoring) • Technology o Machine Learning o Natural Language Processing o Context-Aware Computing o Computer Vision o Intelligent Virtual Agent (Iva) /Virtual Agents o Others • Platform o Land o Airborne o Space • Installation o New Procurement o Upgradation • Region o North America o Asia Pacific o Europe o Latin America o Middle East & Africa |
| Region & Counties Covered | • North America o U.S. o Canada o Mexico • Europe o U.K o France o Germany o Italy o Spain o Rest Of Europe • Asia Pacific o China o Japan o India o South Korea o South East Asia o Rest Of Asia Pacific • Latin America o Brazil o Argentina o Rest Of Latin America • Middle East & Africa o GCC Countries o South Africa o 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 |
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