Global Artificial Intelligence in Military Market Forecast To Reach $23.974 Billion By 2029 With 19.91% Annual Growth

The artificial intelligence in military report describes and explains the artificial intelligence in military market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global artificial intelligence in military market reached a value of nearly $9.671 billion in 2024, having grown at a compound annual growth rate (CAGR) of 16.72% since 2019. The market is expected to grow from $9.671 billion in 2024 to $23.974 billion in 2029 at a rate of 19.91%. The market is then expected to grow at a CAGR of 20.57% from 2029 and reach $61.087 billion in 2034.

What strategies are being adopted by key players in the artificial intelligence in military market?

The key players in the market are adopting extensive strategies in the artificial intelligence in military market such as:

Expand operational capabilities through new contract agreements.
Strengthen business operations through new launches.
Strengthen business capabilities through product advancements and expansions.
Expand new developments to better serve the industry and strengthen their position.

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To take advantage of opportunities, The Business Research Company suggests that artificial intelligence in military companies enhance offerings:
Develop next-generation electro-optical/infrared (EO/IR) intelligent sensing systems.
Develop AI platforms and services.
Adopt strategic partnerships to develop and deploy advanced AI solutions.
Develop innovative projects.

What Is Artificial Intelligence In Military: Market Overview?

Artificial Intelligence (AI) in military market refers to the integration and application of AI technologies to enhance the operational effectiveness, decision-making and strategic capabilities of military forces. AI technologies are utilized in a range of military domains, including defense systems, command and control, intelligence analysis, logistics and autonomous systems.
AI solutions in the military are commonly used to process vast amounts of data, automate tasks, enhance situational awareness, improve the efficiency of military platforms and assist in the development of advanced defense systems. The deployment of AI technologies in military applications aims to provide a strategic edge while ensuring the security and safety of national interests.

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Who Are The Major Companies Operating In The Global Artificial Intelligence (AI) In Military Market?

The top ten competitors in the market made up to 28.53% of the total market in 2023. BAE Systems plc was the largest competitor with a 3.54% share of the market, followed by:

Lockheed Martin Corp.
Northrop Grumman Corp.
Raytheon Technologies Corp.
International Business Machines Corporation
Thales Group
Palantir Technologies Inc.
L3Harris Technologies Inc.
Rafael Advanced Defense Systems Ltd.
Anduril Industries Inc.

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