Market Share of Global Artificial Intelligence and Analytics in Defense Industry
The AI and analytics market is moderately consolidated in nature, with few players holding significant shares in the market. Some prominent market players are Northrop Grumman, Thales Group, BAE Systems, Raytheon Technologies Corporation, Lockheed Martin Corporation, and IBM. The introduction of advanced technologies and the development of AI-enabled defense equipment drive market growth.
- October 2022: The Lockheed Martin Corporation entered a partnership with Red Hat, an American technology firm, to enable small military platforms to handle increased artificial intelligence (AI) workloads. Through this partnership, Lockheed Martin Corporation will utilize the Red Hat Device Edge in integrating advanced software on small platforms such as the Stalker unmanned aerial system. Furthermore, in October 2021, IBM signed a contract with Raytheon Technologies to jointly develop advanced artificial intelligence, quantum, and cryptographic solutions for the defense, aerospace, and intelligence industries. Thus, introducing advanced technologies and growing OEM partnerships to develop next-generation AI-enabled solutions for defense forces will boost market growth during the forecast period.
AI and Analytics in Defense Market Leaders
Northrop Grumman
Thales Group
Lockheed Martin Corporation
BAE Systems
*Disclaimer: Major Players sorted in no particular order
