Artificial intelligence in the military market is expected to be valued at US$ 8.35 billion in 2023 and US$ 27.84 billion in 2033. From 2018 to 2022, the global market was initially growing at a CAGR of 10%.
The industry is projected to see significant development prospects as artificial intelligence for predictive maintenance in cutting-edge military equipment advances. The usage of AI in cybersecurity is expected to rise as a result of the rising risk of cyberattacks and the expanding use of AI across a variety of applications.
Without incorporating quantum physics into AI, the potential for the future is unfathomable. In the fields of training and simulation, systems and software engineering concepts are integrated to produce models that can assist soldiers in training on various fighting systems used in military operations.
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Modern AI solutions are being studied by many businesses in the aviation sector. In the Asia Pacific area, industries that build aircraft and their components have benefited continuously from artificial intelligence (AI) technologies. The European government made significant investments in the development of information management technology to enhance decision-making during actual warfare.
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 the 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.
Major Key Players:
- Charles River Analytics, Inc.
- International Business Machines Corporation
- L3Harris Technologies Inc.
- BAE Systems Plc.
- Rafael Advanced Defense Systems
- SparkCognition
- Raytheon Technologies Corporation
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Thales Group
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.
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Artificial Intelligence in Military Market Segmentation:
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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