Artificial Intelligence in Defense Market Share Global Future Regional Trend, Leading Players Updates, Industry Demand, Current and Future Plans by Forecast To 2028

According to our latest study on "Artificial Intelligence in Defense Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Technology, Platform, and Application," the market was valued at US$ 6.91 billion in 2022 and is expected to reach US$ 13.15 billion by 2028; it is anticipated to register a CAGR of 11.7% from 2023 to 2028.

The defense industry is widely changing with the adoption of advanced technologies such as artificial intelligence (AI), machine learning, quantum computing, space-based telecommunications, and robotics. The rise in threats due to wars and cyberattacks in the defense industry has supported the implementation of the technologies by land, sea, and naval-based military forces. The application of AI and autonomous systems helps these military forces gain information about battlefield situational awareness and efficiently operate precision-guided weapons systems.

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Artificial intelligence in defense market refers to integrating advanced technologies with defense equipment to increase efficiency and applications. In several developed countries, the defense sector receives investments from the government. According to SIPRI, the US military expenditure increased to US$ 876,943.2 million in 2022 from US$ 806,230.2 million in 2021. These investments are used in the research and development of new technologies and for developing advanced equipment that can be used during battles or wars. Artificial intelligence equipped with defense systems can handle large volumes of data efficiently. In addition, these systems have improved self-regulation and self-control due to their enhanced computing and decision-making capabilities. Further, autonomous weapon platforms use computer vision technology to identify and track objects.

Artificial intelligence can help extract useful information from equipment, including radars and automatic identification systems. Therefore, upgrading defense weapons, tools, and equipment with the latest technologies is driving the artificial intelligence in defense market growth. Unmanned aerial vehicles (UAVs) or drones based on AI technologies can be used in the military for security missions. These UAVs are equipped with various sensors and cameras that enable them to gather real-time information about the terrain and detect risks of potential threats for multiple applications, including warfare systems and cybersecurity, in the artificial intelligence in defense market.

The Key Players in The Global Market Are:

BAE Systems Plc
International Business Machines Corp
Leidos Holdings Inc
Lockheed Martin Corp
Raytheon Technologies Corp
Charles River Analytics, Inc. 187
General Dynamics Information Technology, Inc
Shield AI
SparkCognition Inc
Thales SA
By using artificial intelligence and deep learning, UAVs constitute a new chance for autonomous operations and flight. 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 essential in UAVs in military operations for decision making. 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 complete the task. Shield designed the Nova 2 to operate autonomously, without needing a human to control it remotely or for a constant connection to some distant data center. It also does not require 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-based unmanned aerial vehicles add many benefits to the defense sector of the artificial intelligence in defense market.

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The report segments the global Market as follows:

By Component (Hardware, Software, Services);
By Technology (Advanced Computing, AI Systems, Learning and Intelligence),
By Platform (Land, Air, Naval); Application (Cyber Security, Battlefield Healthcare, Logistics & Transportation, Warfare Platform, Others)
The onset of the COVID-19 pandemic led to disruptions in the raw material supply chain, which led to slowdown in production in artificial intelligence in defense market. However, by mid-2021, the industrial sector had gained momentum. Official bodies started using artificial intelligence in defense for their respective operations. Due to the use of artificial intelligence in defense to reduce the carbon footprint from the environment, the artificial intelligence in defense market witnessed substantial growth

The tremendous growth in COVID-19 cases urged governments across the world to impose strict restrictions on vehicles and human movements. Due to travel restrictions, mass lockdowns, and business shutdowns, the COVID-19 pandemic has adversely affected economies and several industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services. Such COVID-19 disruptions have negatively impacted the economy and the artificial intelligence in defense market growth.

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This release was published on openPR.