Artificial Intelligence in Military Market is estimated to register a CAGR 11.99% By 2030

9 April 2020/ Research Report On The Global Artificial Intelligence In The Military Market.

Market Highlights

The growth of the global artificial intelligence in the military market can be attributed to the increasing application of big data analytics and development of chipsets supporting AI. However, a lack of structured data and the absence of protocols and standards for the use of AI in military applications may hinder market growth.

The global artificial intelligence in the military market has been segmented based on offering, technology, platform, application, and region.

On the basis of offering, the market has been divided into hardware, software, and services. The software segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period. Software offers numerous capabilities such as battlefield healthcare data, language translation, and predictive maintenance.

Key Players

The key players in the global artificial intelligence in the military market are Lockheed Martin Corporation (US), IBM (US), Raytheon Company (US), Northrop Grumman Corporation (US), Thales Group (France), BAE Systems (UK), General Dynamics Corporation (US), NVIDIA Corporation (US), Harris Corporation (US), Boeing (US), Leidos (US), SoarTech (US), SAIC (US), SparkCognition (US), and Charles River Analytics Inc. (US).

Based on technology, the global artificial intelligence in the military market has been classified as advanced computing, AI systems, and learning and intelligence. The learning and intelligence segment dominated the market in 2018. However, the AI systems segment is expected to exhibit the highest CAGR during the forecast period. This growth can be attributed to increasing initiatives by the governments in countries such as the US for developing AI-powered weapons that offer enhanced targetting capabilities to army personnel.

On the basis of platform, the global artificial intelligence in the military market has been categorized as airborne, land, naval, and space. The land segment dominated the market in 2018. However, the airborne segment is expected to be the fastest-growing during the forecast period. The increasing use of AI by the Air Force for training and simulation is boosting market growth.

Based on application, the global artificial intelligence in the military market has been divided into logistics and transportation, target recognition, warfare platform, cybersecurity, battlefield healthcare, simulation and training, threat monitoring and situational awareness, information processing, and others. The information processing segment is expected to be the largest and fastest-growing during the forecast period. AI provides information processing capabilities to defense personnel enabling them to receive real-time data analysis that assists in effective planning.

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Based on region, the global artificial intelligence in the military market has been segmented into North America, Europe, Asia-Pacific, and the Middle East. North America accounted for the largest market share in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Factors such as increasing defense expenditure and the growing adoption of AI by navies to develop advanced submarines is boosting market growth. For example, in 2018, the Chinese navy developed autonomous robotic submarines. The submarines assist in accomplishing critical missions without human intervention by making use of AI technology