Artificial Intelligence in Defense Market Size Worth $13.15Bn, Globally, by 2028 at 10.8% CAGR – GlobeNewswire
New York, Feb. 12, 2022 (GLOBE NEWSWIRE) — The latest research study on “Artificial Intelligence in Defense Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component (Hardware, Software, and Services), Technology (Advanced Computing, AI Systems, and Learning and Intelligence), Platform (Land, Air, and Naval), and Application (Cyber Security, Battlefield Healthcare, Logist…….
New York, Feb. 12, 2022 (GLOBE NEWSWIRE) — The latest research study on “Artificial Intelligence in Defense Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component (Hardware, Software, and Services), Technology (Advanced Computing, AI Systems, and Learning and Intelligence), Platform (Land, Air, and Naval), and Application (Cyber Security, Battlefield Healthcare, Logistics and Transportation, Warfare Platform, and Others)”, published by The Insight Partners. The artificial intelligence in defense market growth is driven by the growing adoption of artificial intelligence in unmanned aerial vehicles and increasing government spending on defense to improve artificial intelligence capabilities, incorporation of quantum computing in artificial intelligence.
| Report Coverage | Details |
| Market Size Value in | US$ 6,404.73 million in 2021 |
| Market Size Value by | US$ 13,153.31 million by 2028 |
| Growth rate | CAGR of 10.8% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 189 |
| No. Tables | 106 |
| No. of Charts & Figures | 94 |
| Historical data available | Yes |
| Segments covered | Component, Technology, Platform, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Artificial Intelligence in Defense Market: Competitive Landscape and Key Developments
BAE Systems plc.; IBM Corporation; Leidos; Lockheed Martin Corporation; Raytheon Technologies Corporation; Charles River Analytics, Inc.; General Dynamics Information Technology, Inc. (General Dynamics Corporation); Shield AI; SparkCognition, Inc. are among the key players that are profiled in artificial intelligence in defense market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the global artificial intelligence in defense market and its ecosystem.
In 2021, BAE Systems plc. and Sarcos Defense announced that they are going to develop systems to advance artificial intelligence and machine learning through enhanced perception and sensing capabilities for autonomous platforms for Air Force Research Laboratory (AFRL).
In 2021, IBM Corporation and Raytheon Technologies Corporation announced that they will jointly develop advanced artificial intelligence, cryptographic, and quantum solutions for the aerospace, defense, and intelligence industries, including the federal government, as part of a strategic collaboration agreement.
In 2020, Lockheed Martin and NEC Corporation signed a joint collaboration agreement to extend their partnership. Both the companies are also finalizing a licensing agreement with a multi-year option. For several years, Lockheed Martin and NEC have been working together to evaluate the effectiveness of SIAT for early production testing and operational scenarios.
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Artificial intelligence and robotics are playing a significant role in many defense applications. Robots driven by artificial intelligence can travel through dangerous areas, perform remote operations, and most importantly, perform surveillance missions. Artificial intelligence technology mainly provides robotic assistance on the battlefield, which will enable forces to maintain or expand warfighting capacity without increasing manpower. For instance, the concept of the robotic Loyal Wingman is being researched and developed for the US Air Force. Designed to fly alongside a jet flown by a human pilot, this unmanned jet would fight off the enemy, be able to complete its mission, or help the human pilot do so. It would act as an AI bodyguard and defend the manned aircraft. Moreover, it has been programmed to sacrifice itself if there is a need to save the human pilot.
Further, both unmanned ground vehicles (UGVs) and unmanned underwater vehicles (UUVs) use artificial intelligence and are capable of independently completing a pre-programmed mission. UUVs use artificial intelligence in mine detection operations in seawater. UGVs use artificial intelligence for surveillance operations. Therefore, artificial intelligence is highly used in developing advanced technologies, including defense robots, which will be a major trend in artificial intelligence in defense market in the near future.
The US government is boosting its investments in artificial intelligence systems in defense to preserve its military dominance and mitigate the risk of cyber-attacks on computer systems. Furthermore, to obtain a competitive advantage over other countries, the US government plans to increase expenditure on AI in military systems. Furthermore, North America is known as the global hub for important producers, exporters, and users of AI systems, with the strongest AI capabilities, which fuels the artificial intelligence in defense market growth in the region.
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Artificial Intelligence in Defense Market: Component Overview
Based on components, the artificial intelligence in defense market is segmented into hardware, software, and services. Software is the most important component of artificial intelligence products used in defense operations, and its demand is expected to surge during the forecast period due to the significant rise in digitalization across the military & defense sector. Technological developments in the field of AI are allowing companies to produce powerful AI software and related software development kits. Computer systems with AI software are deployed to perform complex activities. This equipment combine inputs from hardware systems and run them through an AI system to produce an intelligent solution. AI software are crucial in improving the IT architecture by preventing security breaches, which is driving the artificial intelligence in defense market growth for the software segment.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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