Artificial Intelligence in Military Market Statistics: 2030
Artificial intelligence in military refers to the integration of the latest and emerging technology with the military equipment to increase its strength and efficiency. In developed country, military sector is the sector, which receives highest investments. These investments are used R&D of new technological advancements and for developing advanced equipment to be used at the time of war. AI equipped military systems are capable of handling large quantities of data efficiently. In addition, these systems have improved self-control and self-regulation due to its enhanced computing and decision-making abilities. Autonomous weapon platforms are using computer vision technology to identify and track objects. Artificial intelligence can help in the extraction of useful information from equipment’s such as radars and automatic identification systems. Thus, upgrading the military tools, weapons and equipment’s with latest technologies drives the artificial intelligence in military market growth.
COVID-19 Scenario Analysis:
- COVID-19 pandemic has impacted on large scale on the economy across the world. The lockdown imposed by the government resulted in the shutdown of various industries. Although the artificial intelligence in the military market was able to expand during this unprecedented times. The supply and demand for the military weapons continued to grow as the government spending increased to improve their defense systems.
- Though artificial intelligence in military market was able to perform well in the market but lack of raw materials from the suppliers due to interruption of the supply chain led to slowdown in the overall production. However, the market is expected to perform well once the government eases the lockdown restriction.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The rising demand for advanced military equipment is the key factor supporting the growth of the artificial intelligence in military market. In addition, increase government spending in the defense sector has led to larger acceptance of artificial intelligence in military. However, lack of trained persons to handle the artificial intelligence integrated equipment hampers the market growth. Furthermore, incorporation of quantum computing in AI and increasing adoption of AI in predictive maintenance in military platforms are responsible for providing lucrative opportunities for the growth of artificial intelligence in military market.
The market trends for artificial intelligence in military market are as follows:
Increased government spending drives the market growth
The rise in conflicts between the countries results in improving of the defense services. These conflicts result in surge in use of advanced AI-enabled weapon systems and the integration of latest technologies into current systems to make them more efficient. The government of every country spends a huge amount on upgrading the defense system. Many governments have established special departments or groups dedicated to planning, initiating, and integrating AI resources into the existing equipment as well as developing new competencies.
North America is expected to lead the market during the forecast period
North America consists of mainly developed countries such as the U.S. and Canada. U.S. has the most powerful military in the world. The government of U.S. is increasingly investing in artificial intelligence system to maintain its warfare dominance and overcome the risk of potential threats on computer systems. In addition, the U.S. government proposes to increase its spending on AI in military system to gain a competitive edge over other country. Furthermore, North America is recognized as the hub of key manufacturers, exporters, and users of AI systems globally and is known to have the strongest AI capabilities driving the growth of the market.
Key benefits of the report
- This study presents analytical depiction of the artificial intelligence in military market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the artificial intelligence in military market share.
- The current market is quantitatively analyzed to highlight the market artificial intelligence in military growth market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the artificial intelligence in military market.
Questions answered in the artificial intelligence in military market research report
- Which are the leading players active in the artificial intelligence in military market?
- What are the detailed impacts of COVID-19 on the market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
Artificial Intelligence in Military Market Report Highlights
By Deployment Mode
By Business Fubction
By Industry Vertical
Key Market Players
Salesforce, AWS, Google, SAP SE, SAS Institute, Baidu, Oracle, Microsoft, IBM, Facebook