Artificial Intelligence and Robotics Market in Aerospace and Defense to Reach $34.6 Bn by 2029
Market Overview:
The global artificial intelligence and robotics market in aerospace and defense is expected to reach USD 34.60 billion by 2029, growing at a CAGR of 7.8% during the forecast period (2023-2029). This growth is driven by several factors, including:
- Increasing adoption of AI and robotics for various applications in aerospace and defense, such as aircraft maintenance, pilot training, and national security.
- Rising investments in AI and machine learning (ML) technologies by governments and companies.
- Growing focus on improving operational efficiency and decision-making capabilities in the aerospace and defense sector.
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Report Scope:
This report provides a comprehensive analysis of the global artificial intelligence and robotics market in aerospace and defense, covering:
- Market size and forecast from 2022 to 2029.
- Segmentation by offering (hardware, software, services) and application (military, commercial aviation, space).
- Regional analysis of North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Competitive landscape with key players and their market share.
Research Methodology:
The report utilizes a combination of primary and secondary research methodologies. Primary research involves interviews with industry experts and market participants. Secondary research involves data collection from various sources, including company reports, government publications, industry associations, and market research databases.
Segmentation and Regional Insights:
The market is segmented by offering and application:
- By Offering: Hardware, software, and services. The software segment held the largest share in 2022 due to the growing importance of AI software in developing IT infrastructure and combating security breaches.
- By Application: Military, commercial aviation, and space. The military segment is expected to remain the dominant segment due to increasing investments in AI-based defense technologies.
North America is expected to hold the largest market share during the forecast period, followed by Asia Pacific. The presence of major aerospace and defense companies and strong government support for AI development are key factors driving growth in these regions.
Key Players:
Airbus SE, IBM Corporation, The Boeing Company, Thales Group, Nvidia Corporation, GE Aviation, Lockheed Martin Corporation, Intel Corporation, Iris Automation Inc., SITA, Raytheon Technologies Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Microsoft, Spark Cognition, Honeywell International Inc., Indra Sistemas SA, T-Systems International GmbH.
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