Artificial intelligence in military market is predicted to be worth US$ 8.35 billion in 2023 and rise to US$ 27.84 billion by 2033. Initially, the global market was expanding at a CAGR of 10% from 2018 to 2022.
As artificial intelligence for predictive maintenance in cutting-edge military equipment improves further, the industry is likely to experience huge growth opportunities. Due to the growing threat of cyberattacks, as well as the growing use of AI in various applications, it is anticipated that the use of AI in cybersecurity is likely to increase.
The future potential is unimaginable without integrating quantum physics into AI. Systems and software engineering ideas are combined in the disciplines of training and simulation to create models that can help soldiers train on different fighting systems utilized in military operations.
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Numerous companies research cutting-edge AI applications in the aviation industry. Artificial intelligence (AI) technologies have continually helped factories that produce aircraft and their components in the Asia Pacific region. To improve decision-making during actual combat, the European government extensively invested in the development of information management technologies.
Key Takeaways
- In 2022, the United States was expanding at a share of 35.3% in the artificial intelligence in military market.
- The artificial intelligence in military market was significantly expanding, with a size of US$ 7.4 billion in 2022.
- The market in the United States is anticipated to expand at a CAGR of 19.4% by 2033 as a result of ongoing innovation by existing players.
- Due to the market’s enormous potential and a strong emphasis on cloud solutions, analysts expect it is likely to rise 1.12 times between 2022 and 2023.
- The market in India is anticipated to expand at an adequate CAGR of 67.2% by 2033.
- The market in the United Kingdom is anticipated to expand at a CAGR of 23.8% by 2033.
- Based on software, the software dominated the market with a share of 43.1% in 2022 and continues to lead the market during the forecast period.
- Based on application, information processing dominated the market with a share of 14.9% in 2022 and continues to lead the market during the forecast period.
- Based on technology, the machine learning segment dominated the market with a share of 26% in 2022 and continues to lead the market during the forecast period.
Critical Approaches Increasing Top Players’ Wealth
International Business Machines Corporation, L3Harris Technologies Inc., BAE Systems Plc., Rafael Advanced Defense Systems, and SparkCognition are important players in the market.
The market is characterized by strong competition, with a few big global competitors owning a significant market share. Due to the evolving needs of the world’s armed forces, the development of new products and cooperation among the key players are the main areas of focus.
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Recent Developments
- Inzpire, a company that offers defense-managed services, merged with BAE Systems plc in November 2021, a multinational armaments, security, and aerospace company with headquarters in London.
- Five elite autonomous replacement aircraft that can assist the aircraft’s brain in comprehending, analyzing, and correlating various stages during missions carried out by this business were tested by Boeing (United States) in December 2020.
- In January 2021, the United States Air Force awarded Boeing a contract to improve automatic communication recognition and cognitive agent teaching capabilities in order to support the AWACS (Air Force Warning and Control System) mission.
Key Segments
By Offering
- Hardware
- Software
- Services
By Application
- Warfare Platform
- Cyber Security
- Logistics & Transportation
- Surveillance & Situational Awareness
- Command & Control
- Battlefield Healthcare
- Simulation & Training
- Information Processing
- Threat Detection
- Others
By Technology
- Machine Learning
- Natural Language Processing
- Deep Learning
- Computer Vision
- Context-Aware Computing
- Intelligent Virtual Agent (Iva) /Virtual Agents
- Others
By Platform
- Land
- Naval
- Airborne
- Space
By Installation
- New Procurement
- Upgradation
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
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