Artificial intelligence in the military market is expected to be valued at US$ 8.35 billion in 2023 and US$ 27.84 billion in 2033. From 2018 to 2022, the global market was initially growing at a CAGR of 10%.
The industry is projected to see significant development prospects as artificial intelligence for predictive maintenance in cutting-edge military equipment advances. The usage of AI in cybersecurity is expected to rise as a result of the rising risk of cyberattacks and the expanding use of AI across a variety of applications.
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Modern AI solutions are being studied by many businesses in the aviation sector. In the Asia Pacific area, industries that build aircraft and their components have benefited continuously from artificial intelligence (AI) technologies. The European government made significant investments in the development of information management technology to enhance decision-making during actual warfare.
Recent Developments:
Inzpire, a company that offers defense-managed services, merged with BAE Systems plc in November 2021, a multinational armaments, security, and aerospace company with headquarters in London.
Five elite autonomous replacement aircraft that can assist the aircraft’s brain in comprehending, analyzing, and correlating various stages during missions carried out by this business were tested by Boeing (United States) in December 2020.
In January 2021, the United States Air Force awarded Boeing a contract to improve automatic communication recognition and cognitive agent teaching capabilities in order to support the AWACS (Air Force Warning and Control System) mission.
Leading Key Players:
The major key players in the Artificial Intelligence in Military Market include Charles River Analytics, Inc., International Business Machines Corporation, L3Harris Technologies Inc., BAE Systems Plc., Rafael Advanced Defense Systems, SparkCognition, Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, and Thales Group. These entities play pivotal roles in advancing AI technologies for military applications, contributing to innovations in autonomous systems, cybersecurity, intelligence analysis, and more, thereby shaping the future of defense capabilities worldwide.
