The global AI in defense market size was US$ 7.9 billion in 2021. The global AI in the defense market is forecast to grow to US$ 15.1 billion by 2030, registering a compound annual growth rate (CAGR) of 11.9% during the forecast period from 2022 to 2030.
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The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
The global AI in defense market is being driven by the expansion of big data analytics and the increased adoption of cloud services in the defense sector.
The increasing deployment of machine learning is forecast to benefit the overall AI in defense market.
The increasing defense budget in various countries and favorable government initiatives will boost the growth of the overall AI in defense industry.
The shortage of skilled workers may limit the growth of the AI in defense market. On the contrary, increasing number of innovations in the industry will boost the market growth in the coming years.
Many governments have created particular departments or agencies to test new AI capabilities and implement them into current technology. The National Science and Technology Council in the United States, the Strategic Council for AI Technologies in Japan, and the AI Council in the United Kingdom are examples of such organizations. Thus, it will fuel the growth of AI in defense market during the forecast period.
COVID-19 Impact Analysis
The global market value for AI in defense is predicted to decline slightly as a result of the COVID-19 pandemic. Due to the COVID-19 pandemic, the focus from defense industry slightly shifted. Governments were concentrated and dedicated a large sum of money to healthcare institutions due to this health emergency. Thus, the global AI in defense market witnessed a significant downfall due to the pandemic.
Regional Analysis
North America is forecast to hold the largest share in the global AI in defense market. Meanwhile, Europe and Asia-Pacific are forecast to hold the second and the third-largest share in the market. The growth of North America is attributed to the rising focus of governments towards strengthening the defense segment. In addition, the increasing penetration of AI across all verticals will offer ample growth opportunities for the market.
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Competitors in the Market
- BAE Systems
- The Boeing Company
- Charles River Analytics Inc.
- General Dynamics Corporation
- Harris Corporation
- IBM Corporation
- Leidos
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- NVIDIA Corporation
- Raytheon Company
- SAIC
- SoarTech
- SparkCognition
- Thales Group
- Other Prominent Players
Market Segmentation
The global AI in defense market segmentation focuses on Offering, Platform, Application, and Region.
The AI in defense market has been segmented on the basis of offering –
- Hardware
- Software
- Services
The AI in defense market has been segmented on the basis of the platform –
- Airborne
- Fighter Aircraft & Helicopter
- Transport Aircraft
- Transport Aircraft
- Fighter Aircraft & Helicopter
- Land
- Unmanned Ground Vehicles (UGVs)
- Military Fighting Vehicles (MFVs)
- Others
- Naval
- Space
The AI in defense market has been segmented on the basis of application –
- Cyber Security
- Military Healthcare
- Threat Monitoring & Situational Awareness
- Simulation & Training
- Logistics & Transportation
- Others (Warfare Platform)
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The AI in defense market has been segmented on the basis of region-
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
How are the key players in the market assessed?
?This report provides a comprehensive analysis of leading competitors in the market.
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?The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
?The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
?A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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