Global Artificial Intelligence (AI) in Military Market: Overview
There is rising adoption of artificial intelligence in military operation owing to the effectiveness and precision it offers. Moreover, the growing cyber threats have led to increasing penetration of artificial intelligence in the militaries. The global artificial intelligence (AI) in military market is expected to display tremendous growth during the forecast period on account of the rising need for situational awareness.
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Global Artificial Intelligence (AI) in Military Market: Notable Developments
Below are a few notable developments in the global artificial intelligence (AI) in military market:
Integration of artificial intelligence in Robotic Surgical Systems (RSS) is one of the major breakthroughs in the global artificial intelligence (AI) in military market. This plays a key role in battlefield healthcare by mining medical records of the soldiers in difficult conditions. IBM’s research team has recently collaborated with the U.S. Veterans Administration to develop Electronic Medical Record Analyzer (EMRA). This technology helps in identifying critical health issues and maintaining electronic medical records.
The advent of computational military reasoning has solved numerous military problems by taking the right decisions during warfare. It efficiently analyzes and exploits the weakness of the enemies and helps in solving human-level problems on the battlefield. It effectively analyzes the data fed to it, known as the Course of Action (COA) and takes optimal decisions based on the same. This technology has presented numerous growth opportunities for the global artificial intelligence (AI) in military market.
Prominent players in the global artificial intelligence (AI) in military market include Harris Corporation, SoarTech, SparkCognition, Northrop Grumman Corporation, Raytheon Company, Charles River Analytics Inc., and IBM.
Global Artificial Intelligence (AI) in Military Market: Key Growth Dynamics
Rising demand for enhanced military equipment is the key factor promoting the growth of the global artificial intelligence (AI) in military market. Moreover, growing investment in the defense sector has led to larger adoption of artificial intelligence in military. Along with this, there is a rise in technological developments pertaining to artificial intelligence. These factors have impacted the global artificial intelligence (AI) in military market favorably, thus propelling its growth.
Owing to rising threats of war there is an increase in demand for autonomous military vehicles and UAV control systems. Moreover, artificial intelligence helps the soldiers in aggregating the information and deriving correlations based on it. These deep learning tools further help in creating effective war strategies. These features have served as a growth platform for the global artificial intelligence (AI) in military market.
However, along with the drivers, there are a few restraints that may shrink the growth of the artificial intelligence (AI) in military market. Factors such as lack of trained personnel to handle the AI integrated equipment and lack of structured data may pose a threat to the market’s growth. Nonetheless, extensive adoption of cloud-based services in military operations and rising need for smart combat systems may offset the effects of the restraints.
Global Artificial Intelligence (AI) in Military Market: Regional Outlook
In terms of geography, Asia Pacific is perceived to lead the global artificial intelligence (AI) in military market. This owing to the rapid military modernization and rising demand from developing economies such as China and India. The advancements in the AI-based weapons in China has also contributed to the market’s growth in this region. North America is expected to grow substantially during the forecast period, U.S. being the highest contributor. The growth in this region can be mainly attributed to the presence of prominent defense manufacturers.
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Global Artificial Intelligence (AI) in Military Market: Overview