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Artificial Intelligence in Defense Market Growth Trends with 10.8% of CAGR by 2028: The Insight Partners

05-16-2022 05:03 PM CET | IT, New Media & Software

Press release from: The Insight Partners

According to The Insight Partners latest market study on "Artificial Intelligence in Defense Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Technology, Platform, and Application," the artificial intelligence in defense market was valued at US$ 6,404.73 million in 2021 and is projected to reach US$ 13,153.31 million by 2028; it is expected to grow at a CAGR of 10.8% from 2021 to 2028.

Unmanned aerial vehicles (UAVs) are used in multiple applications, and they are growing in popularity. Recent progress in UAVs and artificial intelligence (AI) constitutes a new chance for autonomous operations and flight. Nowadays, artificial intelligence and deep learning are driving the evolution of UAVs and fueling their autonomous future. Computer vision has progressed in image classification and segmentation and object detection, making it an attractive research field when applied on UAVs. Artificial intelligence is more beneficial for UAVs in decision-making and is essential in military operations

For instance, Shield AI provides Nova 2, a drone system capable of outdoor and indoor autonomous, self-directed flight. Nova operates independently in complex and contested environments, leveraging AI to determine in completing the task. Shield designed the Nova2 to operate autonomously, without the need for a human to control it remotely or for a constant connection to some distant data center. It also does not need a GPS signal to navigate and map its environment. The Shield AI's Nova2 drones have already been used by the US Special Operations Command since 2018, including in combat. Therefore, AI has added more benefits to the defense sector by implementation in unmanned aerial vehicles. Thus, the high adoption AI in unmanned aerial vehicle boost the demand for artificial intelligence in defense market.

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Based on components, the artificial intelligence in defense market is segmented into hardware, software, and services. Based on technology, the artificial intelligence in defense market is segmented into Advanced Computing, AI Systems, and Learning and Intelligence. Based on platform, the artificial intelligence in defense market is segmented into land, air, and naval. Based on application, the artificial intelligence in defense market is segmented into cyber security, battlefield healthcare, logistics and transportation, warfare platform, and others.

Impact of COVID-19 Pandemic on Artificial Intelligence in Defense Market

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in the lesser production of commodities, goods, and services.

Even though the COVID-19 pandemic caused a large-scale impact on economies across the globe in 2020, leading to many challenges, the artificial intelligence in defense market has continued to expand. This can be seen from both the demand as well the supply sides, as leading manufacturers such as IBM Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, BAE Systems plc., and Northrop Grumman continue to invest heavily in developing artificial intelligence capabilities, and governments continue to invest significantly in securing these advanced systems. Governments have realized the potential of improved capabilities that these artificial intelligence systems could offer in terms of defense arsenal. However, despite the development of artificial intelligence technology, the supply chain disruptions of the artificial intelligence systems during the COVID-19 pandemic had a minor hit in the market growth. This resulted from the shortage of raw materials due to disruptions in the supply chain. The hardware systems such as artificial intelligence systems have had a slightly negative impact in artificial intelligence in defense market. However, the demand for artificial intelligence software and services provided to various defense organizations across the globe was high. Moreover, the government spending in the defense sector was significantly higher. Therefore, the overall impact of the pandemic on the artificial intelligence in defense market was positive.

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In 2021, with the relaxation of lockdown measures and the beginning of vaccination drives, the supply-chain industry resumed working smoothly with timely delivery of raw materials of the artificial intelligence systems. Moreover, governments across the globe continue to invest significantly in securing advanced systems for the defense sector. Therefore, the artificial intelligence in defense market will grow significantly.

The List of Companies - Artificial Intelligence in Defense Market

BAE Systems plc.; IBM Corporation; Leidos; Lockheed Martin Corporation; Raytheon Technologies Corporation; Charles River Analytics, Inc.; General Dynamics Information Technology, Inc. (General Dynamics Corporation); Shield AI; SparkCognition, Inc.; and Thales Group are a few key players operating in the global artificial intelligence in defense market. Several other market players have been analyzed to understand the market.

By Component
• Hardware
• Software

By Technology
• Advanced Computing
• AI Systems

• Learning and Intelligence
By Platform
• Land
• Air
• Naval

By Application
• Cyber Security
• Battlefield Healthcare
• Logistics and Transportation
• Warfare Platform
• Others

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

We are committed to provide highest quality research and consulting services to our customers. We help our clients understand the key market trends, identify opportunities, and make informed decisions with our market research offerings at an affordable cost.

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