AI In Military Market Is Estimated To Reach USD 18.1 Billion By 2024 | CAGR 14.9 % - Forencis Research

AI in Military Market Size, Share, Trends, Growth, Analysis, Research

Global AI in Military Market: Key Highlights

  • According to the new market research report AI In Military Market by Application (Logistics, Cyberspace Operation), by Platform (Airborne, Land, Sea, and Naval), by Technology (Deep Learning, Machine Learning), by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2017 to 2024”, the global AI In Military Market is estimated to reach USD 18.1 Billion by 2024 at a CAGR of around 14.9% during the review period.
  • AI is emerged as the crucial component of the modern warfare as it possess higher ability to handle the data in more efficient manner. Also, military sector, AI is used for autonomous targeting, surveillance and monitoring, security, cyber defense, cyber warfare, and to carry out other important military functions.
  • Moreover, some of the emerging economies across the globe are incorporating AI in military applications to promote safety and security.

AI in Military Market

Global AI in Military Market: Key Market Dynamics

  • Rising in demand for big data analytics helps to advance future prediction of events and enhance the operational activities which will lead to boost the growth of the market in the forecast period.
  • Rising in demand for intelligence community lead to improve the military decision and to increase the speed and scale of military action.
  • Increasing in demand for cloud services increase the military’s technological advantage services and security missions for military and defense. Hence this will rise the demand for artificial intelligence in military market.
  • Different cultural and data protection and privacy issues may hinder the growth of the market in forecast period.
  • Adoption for media forensics perform “automatically detect manipulations functions and also provides an information in detail which is key factor to witness the growth of the market.

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Global AI in Military Market: Regional Overview

  • Asia-Pacific:

According to the Artificial Intelligence and National Security, China is projected to develop a core AI industry of USD 21.7 Billion for the economic development and growth by 2020. In 2015 the China company Baidu has created a software based of AI model for human levels language recognition. Also the Japan self-defense force are boosting its growth with the robots and artificial intelligence to innovate and develop the military sectors.

Hence, the China has develop a military AI to enhance the defense sector and advance the services.

  • Europe

The region is focusing to strengthen the European defense capabilities with various tools to increase its advancement in the sector. Also, Germany are focusing on the autonomous weapon system for the defense advancement and growth. Also in 2018, the region had signed a declaration of cooperation on Artificial Intelligence (AI). According to International Air Transport Association (IATA) it being forecast the net profit in 2020 will be USD 7.9 Billion in airlines industry.

Global AI in Military Market: Key Players Overview

  • Thales Group:

Thales Group is multinational company which helps to provides services for the aerospace and built the electrical system. The company is a unique features to design, deploy equipment and services to enhance the requirement. The company has develop AI application for all the domain which includes defense, transport and aerospace. Also it used for flight pattern optimization for the defense smart performance automate detection and security applications rely on AI for advanced analysis and forensics.

Hence, the company is making huge investment in big data, IoT, cyber security and artificial intelligence.

  • Lockheed Martin Corporation:

Lockheed Martin Corporation is an American aerospace and defense company. It is global security company that design, develops and integrates advanced technology product and services.  The company is continues invest and growing the AI and autonomy capabilities to enhance the services. The company has given a numerous solution to US military with the artificial intelligence. In 2017, the company has reported its revenue of USD 51 Billion and also USD 35.2 Billion contract with the US government.

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Published : 2020-01-21