Increasing hostility across various countries and increasing government expenditure on R&D for military purposes are key factors driving market revenue growth
According to the most recent analysis by Emergen Research, the global Artificial Intelligence (AI) for Military market size reached USD 6.50 billion in 2020 and is anticipated to grow at a revenue CAGR of 13.4% over the projected period. It is anticipated that rising animosity, terrorism, and political unrest will spur market revenue growth. Additionally, between 2021 and 2028, rising government spending on R&D of AI-enabled military weaponry is anticipated to promote market expansion. The use of AI in military technology is currently being driven by the escalating geopolitical tensions between nations and rising Chinese initiatives. Countries will be able to perform greater surveillance to identify and stop threats by integrating AI. Similar to this, using AI technology can process a lot of data and aid in improved decision-making.
The rise in investments in the creation of AI-integrated systems, the adoption of cloud-based software, and the use of powerful computers can all be linked to the expansion of the artificial intelligence industry in the military sector. The development of this market, however, is being constrained by protectionist regulations and a lack of uniform procedures, which result in restricted access to military systems
Market Dynamics Driver for AI in Military Conflict: Increasing Defense Budgets to Boost AI Capabilities
The worldwide military budget for 2019 was anticipated at USD 1917 billion by the Stockholm International Peace Research Institute (SIPRI), an increase of 3.6% from the budget for 2018. This may be brought on by the increase in international conflicts, which has led to a bolstering of each nation’s armed forces. For instance, the Syrian Civil War, the Saudi Arabia-Yemen war, the US-Iran tensions, and the India-China tensions were only a few of the important international conflicts that took place in 2020.
Restraints: Worries about the potential for mistakes in complicated combat circumstances
Human control over robots is required to ensure control and humanitarian protection, according to concerns that have been expressed as a result of various governments implementing AI-powered technologies for automation and monitoring. Humanitarian groups like Human Rights Watch are also concerned about whether or not countries are covertly creating “Automated Killer Robots” to win the AI weapons race. Governments are compelled to openly state their existing capabilities and refrain from creating completely automated robots and autonomous weapons since they won’t be able to uphold the standards of international humanitarian law.
Opportunity: Quantum computing integration with AI
A quantum computer can outperform any current classical computer thanks to its ability to compute on concepts like “superposition” and “entanglement,” which it uses. For instance, Google recently announced the development of a quantum processor called “Sycamore” that has proven to be able to answer a challenging mathematical problem in 200 seconds, although the same findings will only be possible with today’s most sophisticated supercomputer in 10,000 years. Artificial intelligence and virtual reality are quickly gaining popularity.
Some of the Report’s Important Highlights
· Revenue in the cyber security market is anticipated to increase at a very quick CAGR over the forecast period. The creation of new tools and technology has resulted in an increase in cybercrimes on a global scale. Similar to this, there has been a marked increase in state-sponsored cyberattacks, and both private and public organisations are gradually implementing AI-based solutions that can be used to anticipate, thwart, and effectively address cyber threats.
· Over the projected period, the deep learning segment is anticipated to record a remarkably strong rate of revenue growth. The development of AI algorithms and the growing demand for more sophisticated solutions to handle enormous amounts of data might be credited with this trend. development of danger detection technology for use in actual conflict
· Due to the significant presence of leading market players, including Lockheed Martin Corporation, NVIDIA Corporation, and BAE Systems, Inc. among others, in the region’s developed nations, the market in North America is anticipated to account for the biggest revenue share throughout the forecast period.
Some major companies included in the market report are Lockheed Martin Corporation, NVIDIA Corporation, BAE Systems, Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, General Dynamics Corporation, Textron Inc., SparkCognition Government Systems, Arkray, Inc., and Leidos Inc.
Emergen Research has segmented global AI for military market on the basis of offering, platform, application, technology, and region:
Offering Outlook (Revenue, USD Billion; 2018–2028)
- Artificial Intelligence Solutions
- Artificial Intelligence Platforms
- Artificial Intelligence Solutions
- Software Assistance
- Upgradation & Maintenance
- Deployment & Integration
Platform Outlook (Revenue, USD Billion; 2018–2028)
- Autonomous Combat Vehicles
- Unmanned Ground Vehicle
- Autonomous Combat Robots
- Unmanned Maritime Vehicles
- Anti-Missile Technology
- Ship Navigation Systems
- Unmanned Aerial Vehicles
- Aircraft Maintenance
- Cognitive Electronic Warfare
- Satellite Data Processing
- Intelligent Navigation Systems
- AI Assistant Robots
- Space Exploration
Application Outlook (Revenue, USD Billion; 2018–2028)
- Reconnaissance and Intelligence gathering
- Surveillance and Counterinsurgency
- Information Processing
- Cyber Security
- Threat Analysis
- Warfare Simulation
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Machine Learning
- Deep Learning
- Computer Vision
- Smart Quantum Technology
- Natural Language Processing
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