Pune, April 14, 2023 (GLOBE NEWSWIRE) -- A global Aerospace and Defense business consulting firm, Maximize Market research, has published a business intelligence report on the “Artificial Intelligence and Robotics in Aerospace and Defense Market”. The report uses both primary and secondary data for the analysis and domain expert has analyzed the Artificial Intelligence and Robotics in Aerospace and Defense Market from global point and regional standpoint. Over the forecast period, the Artificial Intelligence and Robotics in Aerospace and Defense market is expected to grow from USD 18.97 Bn in 2021 to USD 34.60 Bn in 2029 at a CAGR of 7.8 percent.
Artificial Intelligence and Robotics in Aerospace and Defense Market Report Scope and Research Methodology
| Market Size in 2021 | USD 18.97 Bn. |
| Market Size in 2029 | USD 34.60 Bn. |
| CAGR | 7.8 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 281 |
| No. of Tables | 116 |
| No. of Charts and Figures | 115 |
| Segment Covered | Offering, Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The Artificial Intelligence and Robotics in Aerospace and Defense Market report includes a comprehensive analysis of emerging trends, market drivers, growth opportunities, and major restraints in the industry. It also provides a detailed analysis of the major segments of the Artificial Intelligence and Robotics in Aerospace and Defense Market with their sub-segments. The MMR report covers historical data for understanding the past trends and forecasting future trends in the Artificial Intelligence and Robotics in Aerospace and Defense industry. To understand the structure of the market and the prevailing competition in the industry, a thorough regional and competitive analysis of the Artificial Intelligence and Robotics in Aerospace and Defense Market is covered in the report. The competitive landscape includes key players of the market along with new entrants. Regional analysis of the market is covered at global, regional and at a country level for understanding the market penetration, dominant players and growth strategies used by them.
The bottom-up approach was used to estimate the global and regional Artificial Intelligence and Robotics in Aerospace and Defense Market size. The research methodology used by the Maximize Market Research team is data triangulation which involves data mining, analysis of the impact of data variables on the Artificial Intelligence and Robotics in Aerospace and Defense Market, and primary (industry expert) validation. The company websites and private websites have also been used to identify and collect information useful for the technical, market-oriented and commercial study of the Artificial Intelligence and Robotics in Aerospace and Defense Market. To provide strengths, weaknesses, opportunities and threats in the Artificial Intelligence and Robotics in Aerospace and Defense Market, a SWOT analysis was used. PESTLE was employed to understand the potential impact of the micro-economic and macro-economic factors affecting the Artificial Intelligence and Robotics in Aerospace and Defense Market.
Artificial Intelligence and Robotics in Aerospace and Defense Market Overview
Artificial Intelligence (AI) and Robotics in Aerospace and Defense refer to the use of advanced technologies such as artificial intelligence, machine learning, and robotics in the aerospace and defense industry. These technologies are used to improve the efficiency, effectiveness, and safety of aerospace and defense operations.
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In the aerospace industry, AI and robotics are used to design and manufacture aircraft, spacecraft, and other aerospace systems. These technologies help in the development of advanced materials, sensors, and propulsion systems that enhance the performance and safety of aerospace systems. Additionally, AI and robotics are used in unmanned aerial vehicles (UAVs) and drones for various applications such as surveillance, reconnaissance, and target acquisition.
Artificial Intelligence and Robotics in Aerospace and Defense Market Dynamics
The market dynamics are characterized by the increasing demand for AI and robotics solutions in the aerospace and defense industry, driven by factors such as the need for efficiency and effectiveness, growing investments in research and development, the demand for unmanned systems, and the need for space exploration and advanced satellite systems.
One of the key trends in the Artificial Intelligence and Robotics in Aerospace and Defense market is the increasing use of unmanned systems, including drones and UAVs, for various applications in the industry. These unmanned systems are used for surveillance, reconnaissance, and target acquisition, among other applications. AI and robotics are used to control and operate these unmanned systems, making them more effective and efficient than manned systems in many cases.
Artificial Intelligence and Robotics in Aerospace and Defense Market Regional Insights
North America is one of the key regions for the AI and Robotics in Aerospace and Defense market, with the presence of major players in the industry, such as Boeing, Lockheed Martin, and General Dynamics. The region has a strong focus on innovation and technological advancements, which is driving the growth of the market.
Europe is another important region for the market, with a focus on the development of advanced satellite systems and space exploration technologies. The region has a strong presence of established players and a growing number of startups focused on AI and robotics solutions for aerospace and defense.
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Artificial Intelligence and Robotics in Aerospace and Defense Market Segmentation
By Offering:
- Hardware
- Software
- Service
In 2022, software segment is estimated to account for 46 percent of the total market share. The growth of this segment can be attributed to the significant role of AI software in the development of IT infrastructure and the prevention of security breaches. The increasing technical advancements in artificial intelligence have led to the creation of novel AI software and software development tools, which are expected to drive the growth of the AI and Robotics in Aerospace and Defense sector in the coming years. These AI software systems are designed to integrate with computer systems and perform complex operations by consolidating data from hardware systems and processing it within an AI system to produce intelligent responses.
By Application:
- Military
- Commercial Aviation
- Space
Artificial Intelligence and Robotics in Aerospace and Defense Market Key Competitors include:
- Airbus SE
- IBM Corporation
- The Boeing Comapny
- Nvidia Corporation
- GE Aviation
- Thales Group
- Lockheed Martin Corporation
- Intel Corporation
- Iris Automation Inc.
- SITA
- Raytheon Technologies Corporation
- General Dynamics Corporation
- Northrop Grumman Corporation
- Microsoft
- Spark Cognition
- Honeywell International Inc.
- Indra Sistemas SA
- T-Systems International GmbH
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Artificial Intelligence and Robotics in Aerospace and Defense Market Size, Share, Size & Forecast by different segment | 2022−2029
- Artificial Intelligence and Robotics in Aerospace and Defense Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Artificial Intelligence and Robotics in Aerospace and Defense Market Segmentation – A detailed analysis by Offering, Application and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Artificial Intelligence and Robotics in Aerospace and Defense Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Key questions answered in the Artificial Intelligence and Robotics in Aerospace and Defense Market are:
- What is the growth potential of the Artificial Intelligence and Robotics in Aerospace and Defense?
- What was the Artificial Intelligence and Robotics in Aerospace and Defense Market size in 2021?
- What are the global trends in the Artificial Intelligence and Robotics in Aerospace and Defense Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Artificial Intelligence and Robotics in Aerospace and Defense Market?
- How is the intervention from regulatory authority is shaping the Artificial Intelligence and Robotics in Aerospace and Defense Market?
- What growth strategies are the players considering to increase their presence in the Artificial Intelligence and Robotics in Aerospace and Defense Market?
- Who are the leading companies and what are their portfolios in Artificial Intelligence and Robotics in Aerospace and Defense Market?
- What are the major challenges posed to Artificial Intelligence and Robotics in Aerospace and Defense Market?
- Who held the largest market share in Artificial Intelligence and Robotics in Aerospace and Defense Market?
Maximize Market Research is leading Aerospace and Defense research firm, has also published the following reports:
Artificial Intelligence (AI) in Robotics Market- The market size is expected to grow at CAGRR of 38.5 percent throughout the forecast period, reaching USD 93.41 Bn by 2029. Increasing needs of automation and demands for lesser human interventions in daily operational tasks across various industry verticals are anticipated to be the major factors driving artificial intelligence in the robotics market.
Artificial Intelligence in Diagnostics Market- is anticipated to reach USD 70.93 Bn. by 2029 from USD 5.26 Bn. in 2022 at a CAGR of 45 percent during a forecast period. The increasing need for low-cost diagnostic procedures, effective and efficient report analysis and rapid diagnostic data creation are just a few of the reasons expected to propel the market's growth during the forecast period.
Artificial Intelligence in Medicine Market- The market size was valued at USD 3.6 Bn in 2021 and is expected to reach USD 87.03 Bn by 2029 at a CAGR of 48.91 percent during the forecast period. AI is expected to help not only with diagnosis procedures in the future, but also with drug development, tailored treatment, and patient monitoring.
Surface and Field Analytics Market –The market is expected to grow at a CAGR of 9.4 percent during the forecast period and market is expected to reach USD 43.91 8 Bn. by 2029. The market is expected to witness growth due to the rising penetration of machine learning and artificial intelligence.
Aerospace & Life Sciences TIC Market- The market size is expected to reach USD 22.54 Bn by 2029, at a CAGR of 3.65 percent from forecast 2023 to 2029. Factors contributing to the growth include research and development and increasing end-use applications.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
