PUNE, India, March 22, 2018 /PRNewswire/ --
The report "Artificial Intelligence in Military Market by Offering (Software, Hardware, Services), Technology (Learning & Intelligence, Advanced Computing, AI Systems), Application (Information Processing, Cyber Security), Platform, Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is estimated to be USD 6.26 Billion in 2017 and is projected to reach USD 18.82 Billion by 2025, at a CAGR of 14.75% from 2017 to 2025. Increasing investment towards the development of AI integrated systems and rising adoption of cloud-based applications are key factors projected to drive the growth of the artificial intelligence in military market.
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Based on platform, the land segment is projected to lead the artificial intelligence in military market.
Based on platform, the land segment is expected to lead the artificial intelligence in military market from 2017 to 2025. Militaries worldwide are focused on the integration of AI with land platforms. The incorporation of AI technology into unmanned ground vehicles assists in the successful execution of various ground operations, such as disabling Improvised Explosive Devices (IEDs) and other kinds of roadside bombs intended to cripple military patrols and convoys.
Based on offering, the software segment of the artificial intelligence in military market is expected to grow at the highest CAGR during the forecast period.
Based on offering, the artificial intelligence in military market has been segmented into hardware, software, and services. The software segment of the artificial intelligence in military market is projected to grow at the highest CAGR during the forecast period. The growth of the software segment can be attributed to the significance of AI software in strengthening the IT framework to prevent incidents of security breach.
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The US is projected to lead the artificial intelligence in military market during the forecast period.
Based on country, the US is estimated to account for the largest share of the artificial intelligence in military market in 2017. This growth can be attributed to the need for automated warfare systems, the involvement of the military in asymmetric warfare, and various modernization programs carried out by the US Armed Forces, which, in turn, has enabled major defense manufacturers in this country to develop techno-efficient AI systems for military operations.
Key players operating in the artificial intelligence in military market are Lockheed Martin (US), Raytheon (US), Northrop Grumman (US), IBM (US), Thales Group (France), General Dynamics (US), NVIDIA (US), and BAE Systems (UK).
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