Nowadays technology is moving at a very fast pace. The increasing demand for mass destructive weapons are driving the growth of the market over the forecast period, owing to the increasing testing of nuclear weapons by countries like North Korea.

Currently, the military is using AI for processing large amount data and processing signals, etc. in the today's world where numbers trump technology, it is fact that in the future the country with the best machines will be the strongest unlike. Hence this requirement has created the massive need for the AI in military and defense. Owing to the increased unnamed aerial vehicles, there is an increase in a wide variety of operations, which boosts the usage of AI technology.

The global artificial intelligence in modern warfare market was estimated as 1.23 billion in 2018 and is expected to reach a value of USD 7.64 by 2024, at a compound annual growth rate of 27.15% during the forecast period (2019-2024).

Increase in demand for mass Destructive Weapons Driving the Growth of the Market

Nuclear weapons play a major role in the international security environment. Growth in the testing of nuclear weapons by the countries like North Korea is increasing the demand for the mass destructive weapons which are generally radiological, nuclear or biological and chemical weapons that are very harmful. Thus owing to these technological developments of nuclear weapons these countries are becoming more powerful enough to destroy the whole world. Thus the growth in the mass destructive weapons leads to the growth of the market.

North America to Dominate the Market Share

North America is expected to have the largest market share during the forecast period. The US government is planning to integrate machine learning and AI into their military equipment and their department of defense has requested about 9.4 billion for the unnamed systems and associated technologies in the budget of 2019. This budget proposal represents a significant expansion of drones over the financial year of 2018 requested budget which contained approximately USD 7.6 billion in drone-related spending and for orders of 807 drones.

Thus the US military is planning to test a new system prototype which includes unnamed army trucks, and underwater drones. This trend of AI-powered automated vehicles is expected to continue.

Key Players:

General Dynamics Corporation, The Boeing Company, Intel Corporation, IBM Corporation, JSC Kalashnikov Concern, Lockheed Martin Corporation, amongst others.

Scope of the Study:

Owing to the competencies by the technology offers scientists have started applying the technology of AI in the defense, sector to make up for the limitations that humans have. They are increasingly using vehicles like Unnamed Ground Vehicles, Recovery and Maintenance Vehicles, Unnamed Aerial Vehicles, and combat systems which take the advantage of Artificial Intelligence. And the applications which use the technology of AI include bioinformatics, practice tools for training troops, security options, and data aggregation from nation-wide databases.

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