The Artificial Intelligence And Robotics In Aerospace and Defense Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence And Robotics In Aerospace and Defense Global Market Report 2024, The artificial intelligence and robotics in aerospace and defense market size has grown rapidly in recent years. It will grow from $22.04 billion in 2023 to $24.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to automation for efficiency, enhanced situational awareness, military modernization programs, global security concerns, cost reduction.
The artificial intelligence and robotics in aerospace and defense market size is expected to see rapid growth in the next few years. It will grow to $36.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to autonomous systems integration, adoption of ai in maintenance, customization and flexibility, swarm intelligence, advanced surveillance and reconnaissance. Major trends in the forecast period include international collaboration, advanced drone technologies, ai in cybersecurity, human-robot collaboration, rapid technological advancements.
The increasing defense expenditure is expected to propel the growth of artificial intelligence and robotics in the aerospace and defense market going forward. Defense expenditure, or military expenditure refers to the total amount of financial resources that a government allocates to fund its military forces, defense-related activities, and national security initiatives. Defense expenditure is used in advancing artificial intelligence (AI) and robotics capabilities within the defense and aerospace sectors to enhance military capabilities, improve operational efficiency, and contribute to national security. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based institute and independent resource on global security, world military expenditure increased by 3.7% in real terms in 2022 to reach a record high of $2,240 billion. Further, military expenditure in Europe rose by 13% during the year. US military spending also increased by 8.8% in nominal terms between 2021 and 2022, but real spending increased by 0.7% over that same time due to an 8.1% inflation rate. Therefore, increasing defense expenditure is driving the growth of artificial intelligence and robotics in the aerospace and defense market.
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The artificial intelligence and robotics in aerospace and defense market covered in this report is segmented –
1) By Type: Hardware, Software, Services
2) By Technology: Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Intelligent Virtual Agent (IVA) Or Virtual Agents, Other Technologies
3) By Application: Military, Commercial Aviation, Space
Top Major Player
Microsoft Corporation
Raytheon Technologies Corporation
Boeing Company
Lockheed Martin Corporation
Intel Corporation
Major companies operating in artificial intelligence and robotics in the aerospace and defense markets are focusing on introducing advanced robotic systems, such as unmanned ground vehicles, to gain a competitive edge in the market. An unmanned ground vehicle (UGV) is a robotic system that operates on land without an onboard human operator. For instance, in May 2021, the Israel Defense Forces, an Israel-based national military institution, in partnership with Israel Aerospace Industries (IAI), an Israel-based aerospace and defense company, launched Jaguar, its new semi-autonomous robotic ground vehicle and one of the first military robots in the world that can replace soldiers on the border. It is a revolutionary robotic system that is equipped with dozens of sensors, an automated driving system, advanced fire capabilities, and a public address (PA) system. The robot makes use of bright headlights, transmitters, high-resolution cameras, and a remote-controlled PA system. It can also self-destruct if it ends up in the hands of an adversary. The Jaguar's semi-autonomous technology is its most distinctive feature. With the use of sensors and a sophisticated driving system, the robot can go autonomously to a predefined location, all the while maintaining complete operational control over its operators and commanders.
The artificial intelligence and robotics in aerospace and defense market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence And Robotics In Aerospace and Defense Market Characteristics
3. Artificial Intelligence And Robotics In Aerospace and Defense Market Trends And Strategies
4. Artificial Intelligence And Robotics In Aerospace and Defense Market - Macro Economic Scenario
5. Global Artificial Intelligence And Robotics In Aerospace and Defense Market Size and Growth
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32. Global Artificial Intelligence And Robotics In Aerospace and Defense Market Competitive Benchmarking
33. Global Artificial Intelligence And Robotics In Aerospace and Defense Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence And Robotics In Aerospace and Defense Market
35. Artificial Intelligence And Robotics In Aerospace and Defense Market Future Outlook and Potential Analysis
36. Appendix
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