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Artificial Intelligence (AI) technology in the military market is estimated at $6.3 billion in 2020 and is projected to reach $11.6 billion by 2025, at a CAGR of 13.1%, according to a Reportlinker’s market report.
Based on the platform, the space segment of the Artificial Intelligence in the military market is projected to grow at the highest CAGR during the forecast period. AI systems for space platforms include various satellite subsystems that form the backbone of different communication systems. The integration of AI with space platforms facilitates effective communication between spacecraft and ground stations.
The software segment in the market is projected to witness the highest CAGR during the forecast period. AI software incorporated in computer systems is responsible for carrying out complex operations. It synthesizes the data received from hardware systems and processes it in an AI system to generate an intelligent response.
The North America market is projected to contribute the largest share from 2020 to 2025 in the Artificial Intelligence in the military market. The US is increasingly investing in AI systems to maintain its combat superiority and overcome the risk of potential threats on computer networks. The US plans to increase its spending on AI in the military to gain a competitive edge over other countries.
Industry experts believe that the COVID-19 pandemic has not affected the demand for AI in the military market in defense applications.
The market includes major players such as BAE Systems Plc. (UK), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Thales Group (US), L3Harris Technologies, Inc. (US), Rafael Advanced defense Systems (Israel), and IBM (US), among others.