Artificial Intelligence Ai In Military Market Highlights
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.
The 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.
Artificial Intelligence Ai In Military Market 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),
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.
Boeing (US), Leidos (US), SoarTech (US), SAIC (US), SparkCognition (US), and Charles River Analytics Inc. (US).
Global Artificial Intelligence in the Military Market Research Report: Information by Offering (Hardware, Software, Services), Technology (Advanced Computing, AI Systems), Platform (Airborne, Land, Naval, Space), Application, & Region—Forecast till 2024 @ https://www.marketresearchfuture.com/reports/ai-in-military-market-7660