Global Artificial Intelligence in Military Market is Estimated to Reach $18.8 Billion by 2025, Says Accurize Market Research
Global Artificial Intelligence in Military Market report published by Accurize Market Research forecast that the global market is expected to reach $18.8 billion by 2025; growing at a CAGR of 14.9% from 2017 to 2025. By geography, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period.
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Rising investment towards the advancement of AI integrated systems fuels the market
Increment in the funds from military research agencies and significant rise in research and development for the advent of advanced artificial intelligence systems are important factors projected to drive the increased adoption of artificial intelligence systems in the military sector. Advancement in computing power and growing occurrence of chipsets supporting artificial intelligence are the key drivers driving the market growth in the upcoming years.
Platform, technology, application, offering, and geography are the classification of the global artificial intelligence in military market. Platform segment is categorized into naval, airborne, land. On the basis of technology segment is bifurcated into advanced computing AI systems, and learning & intelligence. Application segment is categorized into warfare platform, cyber security, logistics & transportation, target recognition, battlefield healthcare, simulation & training, planning & allocation, threat monitoring & situational awareness, information processing and other applications. Software, hardware, and services are the segregation of platform segment.
Furthermore by geography, global artificial intelligence in military market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW) North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, Russia, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Land is to witness the fastest CAGR in the platform segment
On the basis of platform, land segment is expected to achieve the fastest CAGR throughout the forecast period i.e. 2017 – 2025. The high growth in the segment is attributed towards integration of artificial intelligence with land platforms by militaries globally. The amalgamation of AI technology into unmanned land vehicles facilitates in the successful execution of various land operations, such as disabling (IEDs) Improvised Explosive Devices and other kinds of explosives intended to cripple military patrols and convoys.
Software segment is anticipated to gain the fastest CAGR between 2017 and 2025
The software segment of the artificial intelligence in military market is anticipated to grow at the highest CAGR during the forecast period. The growth of the software segment can be attributed to the intendment of AI software in boosting the IT framework to prevent incidents of security breach. Moreover, services segment is estimated to lead the segment with major artificial intelligence in military market share.
US is expected to be the fastest growing market during the forecast period
Geographically, U.S. is likely to attain the fastest CAGR throughout the forecast period, driven by factors such as involvement of the military in asymmetric warfare, need for automated warfare systems, and certain programs carried out by the armed forces, which, in turn, has enabled key defense manufacturers in US to develop techno-efficient AI systems for military usage.
The key players profiled in the report include IBM Corporation, Lockheed Martin Corporation, Raytheon Company, BAE Systems, Thales Group, Northrop Grumman Corporation, NVIDIA Corporation, SoarTech, General Dynamics Corporation, and SparkCognition Inc., among others.
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