AI in Military Market Soars to $13,670 Million, witnessing a CAGR of 13.9% during the forecast period 2024-2030 | The Market Reports.
| Published date | 28 March 2024 |
M2 PRESSWIRE-March 28, 2024-: AI in Military Market Soars to $13,670 Million, witnessing a CAGR of 13.9% during the forecast period 2024-2030 | The Market Reports
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RDATE:27032024
The AI in Military Market is poised to reach $13,670 million by 2030, boasting a robust 13.9% CAGR, driven by the increasing integration of AI technologies in defense systems to enhance operational efficiency and decision-making capabilities.
Military applications of AI have become a prominent topic of interest in the field of artificial intelligence. With new ways of using AI constantly developing, it can be challenging to keep up with ways in which it can aid military operations. As AI becomes more essential, military dominance won't be defined by the size of an army, but by the performance of its algorithms.
The global AI in Military Market was valued at US$ 5550 million in 2023 and is anticipated to reach US$ 13670 million by 2030, witnessing a CAGR of 13.9% during the forecast period 2024-2030.
Global key players of AI in Military include BAE Systems, Raytheon, L3Harris, Northrop Grumman, Leidos, etc. The top five players hold a share over 34%. North America is the largest market, has a share about 39%, followed by Europe and Asia-Pacific, with share 19% and 29%, separately. In terms of product type, Hardware is the largest segment, occupied for a share of 39%, and in terms of application, Warfare Platform has a share about 20 percent.
This report aims to provide a comprehensive presentation of the global market for AI in Military, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding AI in Military.
Report Scope
The AI in Military market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global AI in Military market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the AI in Military...
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