Warfare Platform Segment to Dominate MEA Artificial Intelligence in Defense Market During 2021–2028
According to The Insight Partners market research study on “MEA Artificial Intelligence in Defense Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Technology, Platform, and Application,” is expected to reach US$ 552.44 million by 2028 from US$ 308.85 million in 2021. The market is estimated to grow at a CAGR of 8.7% from 2021 to 2028. The report provides trends prevailing in the MEA artificial intelligence in defense market along with the drivers and restraints pertaining to the market growth. Incorporation of quantum computing and development of robots using artificial intelligence are the major factor driving the growth of the MEA artificial intelligence in defense market. However, concerns over humanitarian protection hinders the growth of MEA artificial intelligence in defense market.
In 2020, the use of artificial intelligence in the defense sector increased irrespective of the onset of COVID-19. The demand for military weapons continued due to uninterrupted government spending on strengthening national defense systems. However, the lack of raw materials from the suppliers due to the disruption of supply chains slowed down the overall production, which had slightly affected the market in 2020. However, the overall impact of artificial intelligence in defense market in MEA was positive. In 2021, with the uplifting of lockdown, the supply-chain industry was again working smoothly with having timely delivery of the raw materials of the artificial intelligence systems. The governments across the MEA region continue to invest significantly in securing advanced systems for the defense sector. Therefore, the artificial intelligence in defense market in the region will grow significantly.
The MEA artificial intelligence in defense market is segmented based on component, technology, platform, application, and country. Based on component, the market is segmented into hardware, software, and services. The software segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on technology, the market is segmented into advanced computing, AI systems, and learning and intelligence. The advanced computing segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on platform, the market is segmented into land, air, and naval. The land segment dominated the market in 2020 and naval segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into cyber security, battlefield healthcare, logistics and transportation, warfare platform, and others. The warfare platform segment dominated the market in 2020 and cyber security segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
BAE Systems plc., General Dynamics Corporation, IBM Corporation, Leidos, Lockheed Martin Corporation, Raytheon Technologies Corporation, and Thales Group are among the leading companies in the MEA artificial intelligence in defense market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Raytheon Technologies Corporation has installed emerging technology into the company’s modeling and simulation process as part of efforts to help defense customers visualize the performance of weapons systems before they make procurement decisions. The company also said that an engineering team within its missiles and defense business used artificial intelligence and machine learning to put a Standard Missile-3 Block IIA missile through digital testing ahead of a flight test demonstration conducted by the US Navy and the Missile Defense Agency in November last year.
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