Dublin, Nov. 13, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence (AI) in Defense Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The AI in defense market is estimated to expand at a growth rate of 30.22% CAGR during the projected period to account for US$18.558 billion by 2029, up from US$4.956 billion in 2024.
The military and defense are vast industries where artificial intelligence (AI) plays a significant role. Progress in AI enables new opportunities for developing defense technologies. In addition to the aforementioned increase in the effectiveness of military forces, using AI in military operations is also more likely to result in a victory of war. Globally, many nations employ AI to improve their military operations and increase their forces' productivity.
Defense objectives will hold a significant share as the government continues spending more of its national budget on defense. As such, qualified engineers and researchers working on defense-purpose technologies are being the major market drivers. For deep learning computers, AI allows for creating neural networks and artificial networks using big data. Moreover, AI-powered robots can enhance the precision and efficacy of military judgments made by humans, facilitating machine-human combat of all kinds between manned and unmanned systems.
Additionally, AI cannot move forward without relevant data gathered by different defense ships, aircraft, and vehicles on everyday duty. The military collects the data using war games, digital simulations, and physical defense exercises, which train the AI. In the coming years, increasing defense spending is likely to lead to a wider application of AI for designing defensive programs, which will drive the overall AI in the defense market's growth.
AI IN DEFENSE MARKET DRIVERS:
Increasing government funding to enhance and improve technological applications in defense is expected to boost AI in the defense market.
The government's increasing funding of AI advancements in defense is likely to increase the development and adoption of such systems. This investment in research and development, talent acquisition, niche hardware, and infrastructure has been further stimulated by world applications of interest to national security. These applications include surveillance, target identification, semi-autonomous vehicles/drones, eventually driverless cars, and cyber security. Moreover, AI also provides automotive sensors for military surveillance equipment such as satellites and night vision devices, as well as missile targeting systems.
In addition, more funding can bring in the best AI talent working on defense-related projects, speed up innovation, and help build high-performance computing clusters. Improvements in machine learning, natural language processing, and computer vision will be its eventual outcome. For instance, in May 2024, through the European Defence Fund, the European Commission invested €1.03 billion in 54 joint European defense research and development projects. It is set to facilitate the development of dozens of technologies spanning multiple critical innovation focus areas such as cyber, land, air, sea, and space-based asset protection, including Chemical, Biological, Radiological, and Nuclear (CBRN) defense.
AI in defense market Geographical Outlook:
The Asia Pacific region is anticipated to hold a significant AI in Defense market share.
Asia Pacific countries such as Japan, India, and China are witnessing rising AI markets because of major key players of AI and technical companies. Additionally, countries in the region are heavily investing in new AI and defense technologies. Therefore, the two merged fields have created a product in the form of AI in the defense market and are benefiting hugely from growing initiatives by governments and private enterprises to develop and deploy AI technologies further in defense.
Reasons for buying this report::
- Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
- Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
- Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
- Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
- Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
Report Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments)
- IBM Corporation
- Booz Allen Hamilton Inc.
- Qualetics Data Machines Inc.
- Raytheon Technologies Corporation
- Boeing
- Lockheed Martin Corporation
- Thales Grou
- BAE Systems Plc
- L3Harris Technologies, Inc.
- Northrop Grumman Corporation
Market Segmentation:
The AI in defense market is segmented and analyzed as below:
- By Application
- Intelligence and Surveillance
- Cyber Security
- Combat Training
- Reconnaissance
- Others
- By Platform
- Land
- Airborne and Space
- Naval
- By Technology
- Machine Learning
- Computer Vision
- Natural Language Processing
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Taiwan
- Australia
- Others
- North America
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 152 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.96 billion |
| Forecasted Market Value (USD) by 2029 | $18.56 billion |
| Compound Annual Growth Rate | 30.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/6e6eqq
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
