Artificial Intelligence in the Military Market Global Trend and Forecast to 2024
Research Reports
Jan 19, 2021
Market Insight
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.
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).
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Market Segment
Global Artificial Intelligence in the Military Market has been segmented based on offering, technology, platform, application, and region.
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.
Based on 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.
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