New York, United States , July 24, 2023 (GLOBE NEWSWIRE) -- The Global Artificial Intelligence (AI) in Military Market Size is to grow from USD 8.4 billion in 2022 to USD 33.8 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 14.9% during the projected period. Artificial intelligence (AI) is being propelled in the military industry by factors such as a growing emphasis on the development of high-precision military laser systems.
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The global military market for artificial intelligence (AI) has seen significant growth and transformation. Military organizations around the world are increasingly utilizing artificial intelligence (AI) technologies to improve their operational capabilities, decision-making processes, and overall efficiency. Autonomous weapons systems, surveillance and reconnaissance, cybersecurity, command and control systems, logistics and transportation, and training and simulation are examples of AI applications in the market. One of the key factors driving the growth of AI in the military market is the growing need for advanced technologies to address emerging security challenges and modern warfare techniques. AI systems have the capability of analyzing massive amounts of data in real-time, detecting patterns, and making accurate predictions, allowing for faster and more effective battlefield decision-making. Furthermore, the development of AI-enabled autonomous systems, such as unmanned aerial vehicles (UAVs) and unmanned ground vehicles (UGVs), has transformed military operations. These autonomous systems can perform a wide range of tasks without direct human intervention, including surveillance, reconnaissance, target identification, and even combat operations.
Browse key industry insights spread across 200 pages with 125 market data tables and figures & charts from the report on, "Global Artificial Intelligence (AI) in Military Market Size, Share, and COVID-19 Impact Analysis, By Offering (Software, Hardware, Services), By Technology (Machine Learning, Natural Language Processing), By Platform (Airborne, Land, Space), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The software segment is expected to grow at the fastest pace in the global artificial intelligence (AI) in military market during the forecast period.
The global artificial intelligence (AI) in military market is divided into three categories: software, hardware, and services. The software segment, among these, is expected to grow at the fastest rate in the global artificial intelligence (AI) in military market during the forecast period. The software segment in the military domain includes the development, deployment, and integration of AI algorithms and applications.
The machine learning segment is expected to hold the largest share of the global artificial intelligence (AI) in military market during the forecast period.
The global artificial intelligence (AI) in military market is divided into machine learning and natural language processing based on technology. Among these, machine learning is expected to account for the majority of the global artificial intelligence (AI) in military market during the forecast period. Machine learning algorithms are essential for military applications because they enable AI systems to learn from data, recognize patterns, and make predictions or decisions based on the information analyzed.
The space segment is expected to hold the largest share of the global artificial intelligence (AI) in military market during the forecast period.
The global artificial intelligence (AI) in military market is divided into three segments based on the platform: airborne, land, and space. Among these, the space segment will likely to lead the global artificial intelligence (AI) in military market throughout the forecast period. The space segment includes the integration of AI technologies in space-based systems such as satellites, space probes, and other space assets.
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North America is anticipated to hold the largest share of the global Artificial Intelligence (AI) in Military market over the predicted timeframe.
Over the next few years, North America is expected to hold the largest share of the global artificial intelligence (AI) in military market. Because of its technologically advanced military forces and significant investments in AI research and development, North America is a key region in the global AI in military market.
Asia Pacific is projected to expand at the fastest rate in the global artificial intelligence (AI) in military market during the forecast period. The Asia Pacific region is experiencing rapid growth in the AI in military market as a result of increased defence budgets, modernization efforts, and geopolitical tensions.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Artificial Intelligence (AI) in Military Market include Lockheed Martin Corporation, Charles River Analytics, Inc., International Business Machines Corporation, Rafael Advanced Defense Systems, SparkCognition, Thales Group, Raytheon Technologies Corporation, Northrop Grumman Corporation, BAE Systems plc, Thales Group, L3Harris Technologies Inc., Rheinmetall AG, and Others.
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Recent Developments
In April 2023, Raytheon Technologies Corporation unveiled RAIVEN, its new AI-assisted EO/IR system. This solution enables military pilots to identify threats more quickly and accurately.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Artificial Intelligence (AI) in Military Market based on the below-mentioned segments:
Global Artificial Intelligence (AI) in Military Market, By Offering
- Software
- Hardware
- Services
Global Artificial Intelligence (AI) in Military Market, By Technology
- Machine Learning
- Natural Language Processing
Global Artificial Intelligence (AI) in Military Market, By Platform
- Airborne
- Land
- Space
Global Artificial Intelligence (AI) in Military Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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