Pune, May 17, 2023 (GLOBE NEWSWIRE) -- “As per SNS Insider, the Artificial Intelligence in Military Market reached a valuation of USD 8412.79 million in 2022 and is predicted to attain USD 28980.26 million by 2030, exhibiting a compound annual growth rate of 16.72% from 2023 to 2030.”
Market Overview
Artificial Intelligence (AI) has been adopted by militaries around the world to enhance their capabilities, improve efficiency, and reduce risks to human lives. The use of AI in military operations has the potential to revolutionize the way wars are fought and won. One of the main areas where AI is used in the military is in autonomous systems, such as drones and unmanned ground vehicles. These systems are equipped with AI algorithms that enable them to operate independently, without the need for constant human control.
Market Analysis
The growth of artificial intelligence in military market is being driven by a range of factors, including increased government spending on R&D, the growing adoption of big data in the defense industry, private investment in AI-based military technology, and the incidence of animosity and cross-border wars. These factors are expected to continue driving growth in the AI in military market in the years ahead, as governments and private companies work to develop highly advanced military technologies that can keep pace with rapidly evolving threats. Governments are investing in advanced military technologies to enhance their military capabilities and to protect their borders from external threats. This is leading to the development of highly sophisticated AI-based systems that can detect and neutralize threats before they become a danger.
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Key Company Profiles Listed in this Report are:
The major key players are Lockheed Martin Raytheon, Spark Cognition, BAE Systems Leidos, IBM, Northrop Grumman Thales Group, Charles River Analytics, General Dynamics L3 Harris Technologies, Rafael Advanced Defense Systems Ltd, and other players.
Impact of Recession on Artificial Intelligence in Military Industry
The impact of a recession on the artificial intelligence in military market is complex and multifaceted. While a recession can pose challenges to the growth and development of the AI industry, it can also present opportunities for innovation and investment in strategic technologies.
Artificial Intelligence in Military Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 8412.79 Million |
| Market Size by 2030 | US$ 28980.26 Million |
| CAGR | CAGR of 16.72% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Artificial Intelligence in Military Market: Key Segmentation | • By Technology (Machine Learning, Computer vision) • By Application (Information Processing, Cyber Security, Future Unmanned Aircraft System (FUAS), Logistics, Others) • By Offering (Software, Hardware, and Services) • By Installation Type • By Platform |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The artificial intelligence in military market has been witnessing rapid growth in North America, which has registered the largest revenue share. The major countries in North America, particularly the United States, have been investing heavily in artificial intelligence technologies to enhance their military capabilities. The U.S. dominates this sector due to its significant investment in research and development of AI systems. The United States has been leading the way in the development of advanced military technologies for decades.
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Key Takeaway from Artificial Intelligence in Military Market Study
- The information processing segment of the market is poised for significant growth in the coming years. As military organizations continue to generate vast amounts of data, the need for advanced algorithms and machine learning techniques to process and analyze this data will only increase.
- The machine learning is expected to be one of the dominant segments of the market. It has the potential to revolutionize the way the military operates in a variety of areas, from autonomous weapons to logistics.
Recent Developments Related to Artificial Intelligence in Military Market
- Red Cat, a leading provider of drone products and services, has announced its partnership with Athena AI, an AI and computer vision software company, to enhance the capabilities of the new Teal 2 military drone. The partnership aims to equip the Teal 2 drone with cutting-edge AI technology and computer vision capabilities that will enable it to perform complex missions more effectively and efficiently.
- Thales, a leading technology company, has partnered with LuxCarta, a geospatial intelligence solutions provider, to offer cutting-edge artificial intelligence-powered solutions for military intelligence and security operations.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Artificial Intelligence in Military Market Segment, by Technology
9. Artificial Intelligence in Military Market Segment, by Application
10. Artificial Intelligence in Military Market Segment, by Offering
11. Artificial Intelligence in Military Market Segment, by Installation Type
12. Artificial Intelligence in Military Market Segment, by Platform
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
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