Market Research

Artificial Intelligence in the Military Market Worldwide Share, Business Growth, Key Players and CAGR of 14.35% by Foresight to 2024

Jul 23, 2020 3:02 PM ET
iCrowd Newswire – Jul 23, 2020

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).

Get Free Sample Copy of “Artificial Intelligence in the Military Market” @ https://www.marketresearchfuture.com/sample_request/7660

Market Segment

Global Artificial Intelligence in the Military Market has been segmented based on offering, technology, platform, application, and region.

On the basis of offering, the market has been divided into hardware, software, and services. The software segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period. Software offers numerous capabilities such as battlefield healthcare data, language translation, and predictive maintenance.

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.

Based on application, the global artificial intelligence in the military market has been divided into logistics and transportation, target recognition, warfare platform, cybersecurity, battlefield healthcare, simulation and training, threat monitoring and situational awareness, information processing, and others. The information processing segment is expected to be the largest and fastest-growing during the forecast period. AI provides information processing capabilities to defense personnel enabling them to receive real-time data analysis that assists in effective planning.

Based on region, the global artificial intelligence in the military market has been segmented into North America, Europe, Asia-Pacific, and the Middle East. North America accounted for the largest market share in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Factors such as increasing defense expenditure and the growing adoption of AI by navies to develop advanced submarines is boosting market growth. For example, in 2018, the Chinese navy developed autonomous robotic submarines. The submarines assist in accomplishing critical missions without human intervention by making use of AI technology.

Access Report Details @ https://www.marketresearchfuture.com/reports/ai-in-military-market-7660

NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Contact Information:

Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]


iCrowdNewswire

Keywords:    Artificial Intelligence in the Military Market, Artificial Intelligence in the Military, Artificial Intelligence in the Military Industry, Global Artificial Intelligence in the Military Market, Artificial Intelligence in the Military Market Research, Artificial Intelligence in the Military Market Analysis, Artificial Intelligence in the Military Market Size