The Artificial Intelligence In Military Global Market Report 2023 by The Business Research Company, provides artificial intelligence in military market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Artificial Intelligence In Military Global Market Report 2023, the market size grew from $7.28 billion in 2022 to $8.58 billion in 2023 at a compound annual growth rate (CAGR) of 17.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The artificial intelligence in military market size is expected to grow to $15.09 billion in 2027 at a CAGR of 15.1%.
Increased spending on defense is driving the growth of artificial intelligence in military market going forward. Artificial intelligence refers to the simulation of human intelligence in machines that are programmed to work like humans and spoof their actions. Most governments have set up specialized departments or organizations with the specific purpose of developing new capabilities as well as planning, launching, and integrating AI capabilities into military equipment.
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The artificial intelligence in military market is segmented:
1) By Offering: Hardware, Software, Service
2) By Technology: Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Intelligent Virtual Agent (IVA) or Virtual Agents, Other Technologies
3) By Platform: Land, Naval, Airborne
4) By Installation: New Procurement, Upgradation
5) By Application: Information Processing, Simulation and Training, Warfare Platform, Threat Monitoring and Situational Awareness, Cyber Security, Other Applications
Technological advancement is a key trend gaining popularity in artificial intelligence in military market. Major players operating in the artificial intelligence in military market are concentrating their efforts on creating innovative technologies to strengthen their position. For instance, in July 2022, Raytheon Technologies, a US-based aerospace, and defense company partnered with a US-based company, C3 AI’s application platform to deliver next-generation artificial intelligence (AI) and machine learning (ML) capabilities for the Tactical Intelligence Targeting Access Node (TITAN) program of US Army. TITAN will ingest data from high-altitude and space using terrestrial and aerial sensors to provide targetable data and situational awareness.
The artificial intelligence in military market report table of contents includes:
- Executive Summary
- Artificial Intelligence in Military Market Characteristics
- Artificial Intelligence in Military Market Trends And Strategies
- Artificial Intelligence in Military Market – Macro Economic Scenario
- Artificial Intelligence in Military Market Size And Growth
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- Africa Artificial Intelligence in Military Market
- Artificial Intelligence in Military Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Artificial Intelligence in Military Market
- Artificial Intelligence in Military Market Future Outlook and Potential Analysis
- Appendix
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