Market Overview

The artificial intelligence in modern warfare market was valued at USD 1,036.584 million in 2018, and it is expected to reach a value of USD 7,687.182 million by 2024, at a CAGR of 40.25% during the forecast period (2019-2024). China is betting on AI to enhance its defense capabilities and is expected to become the world leader in this field by 2030.

• The increasing demand for weapons of mass destruction is driving the growth of the market. The growth in the testing of nuclear weapons by countries, like North Korea, is also contributing to the growth of these weapons. These weapons are radiological, biological, or chemical in nature, therefore they are harmful. 
• The emergence of extremist organizations across the world, such as ISIS, has led to an increased emphasis on the use of technology, in the fields of counter-terrorism and defense activities. Through continued experiments and studies, automated vehicles have been identified to act as force multipliers.
• Although, AI is a growing element in the military strategy of many countries, the European Union and China have been engaging in the issue of AI ethics. Many leading human rights organizations argue that the use of weapons, such as armed drones, will lead to an increase in civilian deaths and unlawful killings. Others are concerned that unregulated AI will lead to an international arms race.

Scope of the Report

Applications, like data aggregation from nation-wide databases, practice tools for training troops, bioinformatics, and the security options that AI technology offers can be optimized with intelligent computers. It is due to this competency the technology offers; scientists have started applying AI in the defense sector to make up for the limitations that humans have. They are increasingly using unmanned aerial vehicles, unmanned ground vehicles, recovery and maintenance vehicles and combat system which take advantage of AI. 

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Key Market Trends

Unmanned Aerial Vehicles Expected to Dominate the Market

• Due to the wide variety of operations, they can perform in the current scenario, Unmanned Aerial Vehicles (UAV) have made significant strides since their inception.
• Engineers have been identified to harness the capability of UAV, to collect visual and thermal data over vast areas, at a much higher precision than before.
• With appropriate data analytics, this information is being used by the military for various purposes, which include security and control, aerial reconnaissance, access chemical, biological and nuclear conditions, and to strategize the required measures. 

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