Valued to be $22.9 Billion by 2026, Artificial Intelligence (AI) in Military Slated for Robust Growth Worldwide

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Aug 26, 2021, 08:50 ET

SAN FRANCISCO, Aug. 26, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Artificial Intelligence (AI) in Military - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Artificial Intelligence (AI) in Military

FACTS AT A GLANCE
Edition: 4; Released: May 2021
Executive Pool: 133779
Companies: 337 - Players covered include BAE Systems; Boeing; CACi International; Charles River Analytics; Cray; DarKTrace; General Dynamics; Harris Corporation; IBM; Leidos; Lockheed Martin; Northrop Grumman; NVIDIA; Raytheon Company; SAIC; SAS; Securonix; Soartech; SparkCognition; Thales Group; Xilinx and Others.
Coverage: All major geographies and key segments
Segments: Platform (Land, Naval, Airborne, Space); Component (Software, Hardware, Services); Technology (Learning & Intelligence, Advanced Computing, AI Systems)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Artificial Intelligence (AI) in Military Market to Reach $22.9 Billion by 2026
Amid the COVID-19 crisis, the global market for Artificial Intelligence (AI) in Military estimated at US$10.2 Billion in the year 2020, is projected to reach a revised size of US$22.9 Billion by 2026, growing at a CAGR of 14.2% over the analysis period. Land, one of the segments analyzed in the report, is projected to record a 14% CAGR and reach US$11.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Naval segment is readjusted to a revised 14.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.2 Billion in 2021, While China is Forecast to Reach $3.6 Billion by 2026
The Artificial Intelligence (AI) in Military market in the U.S. is estimated at US$3.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.6 Billion by the year 2026 trailing a CAGR of 13.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.5% and 12.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.4% CAGR.

Airborne Segment to Reach US$4 Billion by the year 2026
In the global Airborne segment, USA, Canada, Japan, China and Europe will drive the 15.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$3.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.