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Artificial Intelligence in Defense and Aerospace Market By Application (Military, Commercial Defense and Aerospace), By Offering (Hardware, Software) - Global Outlook Analysis and Industry Forecast, 2018-2023
Artificial Intelligence in Defense and Aerospace Market
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The Asia Pacific region holds the highest market share in 2017 and is considered as the fastest growing market in the forecasted period. At country level China, Australia, India, and Japan is the major markets in Asia Pacific region and holds a substantial market share in 2017 and it is projected to grow at a gradual pace in the coming years. The increasing adoption of machine learning and NLP technologies for virtual assistance and training applications in the Defense and Aerospace sector is driving the growth of the market in APAC.
The market is segmented by application, by offerings, and by region. By application, it is sub-segmented into Military, Commercial Defense and Aerospace and Space. In the year 2017, Military segment by application generated the highest revenue in the global market and is expected to continue its dominance during the forecast period, as most of the countries are focused to enhance the operational efficiencies of their armed forces, with the help of artificial intelligence. Based on the basis of offerings, the market is segmented into Hardware, Software and Service. Among these, the software segment held the largest market size in 2017.
Drivers:
• Use of Big Data in Aerospace Industry
• Growing Adoption of Cloud-Based Applications and Services in Defense and Aerospace Industry
Restraints:
• Limited Number of Experts in AI
• Constraints Associated with Implementation and Deployment of AI Solutions
Opportunities:
• Developing Countries to Offer Significant Growth Opportunities
• Increasing Adoption of AI to Improve Customer Services
Challenges:
• Lack of Standards
• Technological Unawareness in about AI
Airbus (France), IBM (U.S), Boeing (U.S), Nvidia Corporation (U.S), GE (U.S), Thales (France), Lockheed Martin Corporation (U.S), and Intel (U.S) are some of the key players in the Global Artificial Intelligence in Defense and Aerospace Market. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
Key Benefits for Stakeholders
• Artificial intelligence software and solution providers
• Artificial intelligence technology providers
• Technical universities
• Market research and consulting firms
• Government research agencies and private research organizations
By Application
• Military
• Commercial Defense and Aerospace
• Space
By Offering
• Hardware
• Software
• Service
By Region
• North America
• Europe
• Asia-Pacific
• RoW
Key Market Players
• Airbus
• IBM
• Boeing
• Nvidia Corporation
• GE
• Thales
• Lockheed Martin Corporation
• Intel
• Iris Automation Inc.
• SITA
(Another brief information of 10 companies will be provided in report.)
Read Report Overview with Full TOC @ https://genesismarketinsights.com/viewreport/268/31/Artificial-Intelligence-in-Defense-and-Aerospace-Market
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Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in house data validation tools, GMMR has delivered actionable, reliable and all-inclusive Market Research Reports. GMMR is growing strongly for last 2 decades with most of the clients providing repeat business for their trust on the data quality and recommendations for decision making.
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