Chicago, July 19, 2023 (GLOBE NEWSWIRE) -- The Artificial Intelligence (AI) in Military Market by Offering (Software, Hardware, Services), Technology (Machine Learning, Natural Language Processing), Platform (Airborne, Land, Space), Application, Installation Type, Geography - Global Growth Driver and Industry Forecast to 2028". The market growth can be attributed to the improved adoption of intelligent unmanned vehicles and increasing threats of cyber-attacks. Artificial Intelligence (AI) in Military Companies - Lockheed Martin Corporation (US) and Raytheon Technologies Corporation (US) are the Key Players.

Ai In Military Market Ecosystem

Prominent companies in this market include well-established, financially stable providers of AI solution for military purpose. Major players operating in the AI in military market include Lockheed Martin Corporation (US), Raytheon Technologies Corporation (US), Northrop Grumman Corporation (US), BAE Systems plc (US), and Thales Group (France).

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AI in Military Market Dynamics:

Drivers: Increase Investments in Development of AI-Enabled Solution to Strengthen Military Capabilities

The development of autonomous military systems drives the adoption of AI in the military market. The modern AI-enabled system helps to enhance the efficiency of military systems and strengthen their capabilities in Warfield. Therefore, the defense forces of leading countries have increased their defense spending to boost the deployment of AI on military platforms. According to a report by Stockholm International Peace Research Institute (SIPRI) in April 2023, the US, Russia, China, India, and Saudi Arabia collectively accounted for 63% of defense expenditure in 2022. Global military spending grew by 3.7% in 2022 and reached UD$ 2,240.0 billion. 

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Artificial Intelligence (AI) in Military Market Scope

Report Metric	Details
Estimated Market Size	USD 9.2 billion
Projected Market Size	USD 38.8 billion
Growth Rate	CAGR of 33.3%
Market size available for years	2020–2028
Base year considered	2022
Forecast period	2023-2028
Forecast units	Value (USD billion)
Segments covered	Offering, Application, Technology, Platform, Installation Type, and Region
Geographies covered	North America, Europe, Asia Pacific, Latin America, and Rest of the World
Companies covered	Lockheed Martin Corporation (US), Raytheon Technologies Corporation (US), Northrop Grumman Corporation (US), BAE Systems plc (US), and Thales Group (France). L3Harris Technologies Inc. (US), and Rheinmetall AG (Germany)

Restraints: Lack of Protocols and Standards for Use of AI in Military Applications

The development, management, and successful implementation of AI systems require certain protocols. Presently, since only a few countries are using AI in the military arena, there are very few standards and protocols for their use.

As most AI capabilities are being developed by private companies, there is a lack of co-operation between governments and companies in developing these technologies. This is because companies are reluctant to share their intellectual property with the government, as there are no standard regulations. They also face complexities in defense acquisition processes and the lengthy and complicated legal framework involved, and thus, many companies have refused to do business with the US Department of Defense (DoD). Such factors indicate the lack of proper standards and protocol for the use of AI in military applications, which poses a restraint to market growth.

Opportunities: Incorporation of Quantum Computing in AI

A quantum computer works on phenomena such as “superposition” and “entanglement.” Through these computational advantages, a quantum computer can outperform any modern classical computer. For instance, Google recently reported that it developed a quantum processor, “Sycamore,” that has demonstrated the ability to solve a complex mathematical problem in 200 seconds, while the same results will only be obtained in 10,000 years using the most advanced supercomputer available today.

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Artificial Intelligence (AI) in Military Companies

Lockheed Martin Corporation

Lockheed Martin Technologies is a leading player in the AI in military market. It manufactures a variety of equipment and solutions for this sector. The Advanced Development Programs (ADP) organization, also known as Skunk Works, is a subsidiary of Lockheed Martin, which focuses on developing artificial intelligence solutions to speed up decisions in various fields, allowing the user to focus more on strategic tasks. For decades, Lockheed Martin has been developing trusted AI technologies to help humans maximize safety, performance, and situational awareness across land, sea, air, space, cyber, and electromagnetic spectrum domains.

Raytheon Technologies Corporation

Raytheon Technologies Corporation is one of the leading companies that provide products for defense, civil government, and cybersecurity applications. Raytheon applies artificial intelligence and machine learning to solutions in areas of predictive equipment maintenance, language classification of handwriting, and automatic target recognition. It also employs them to improve the intelligence, surveillance, and reconnaissance capabilities of the US and allied armed forces by integrating it across ISR capabilities to help warfighters make decisions faster with a reduced workload. The merger of Raytheon Company and United Technologies Corporation will create more opportunities for both companies.

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