Report : Europe Artificial Intelligence in Defense Market Forecast to 2028 - COVID-19 Impact and Regional Analysis- by Component (Hardware, Software, and Services), Technology (Advanced Computing, AI Systems, and Learning and Intelligence), Platform (Land, Air, and Naval), and Application (Cyber Security, Battlefield Healthcare, Logistics and Transportation, Warfare Platform, and Others)
At 12.1% CAGR, the Europe Artificial Intelligence in Defense Market is speculated to be worth US$ 3,143.65 million by 2028, says Business Market Insights
According to Business Market Insights research, the Europe artificial intelligence in defense market was valued at US$ 1,775.91 million in 2023 and is expected to reach US$ 3,143.65 million by 2028, registering a CAGR of 12.1% from 2023 to 2028. Growing adoption of artificial intelligence in unmanned aerial vehicles and increasing government spending on defense are the critical factors attributed to the Europe artificial intelligence in defense market expansion.
Quantum computing integrates the concepts of quantum physics and computer science. The introduction of quantum computing will supercharge the artificial intelligence systems, which currently depend on binary-based classical computing and enhance their capabilities. Artificial intelligence can crunch through a larger data set and learn from it to give a better model and accurate predictions, which can have various applications in the defense industry for security and privacy. Owing to the ability of quantum computing to process larger datasets, the information can be processed much quicker locally than on the cloud. For instance, data from all sensors attached to an autonomous AI-powered tank can be processed quickly, and decisions can be made faster. Quantum computing will play a huge role in cybersecurity, as this will power up the systems for faster detection of threats and take necessary countermeasures. The defense industry across the region experienced the threat of cyberattacks. Therefore, existing cybersecurity technology falls short to tackle advanced cyber threats. Such incidents create the rising need for advanced cybersecurity capabilities. Thus, AI-based cybersecurity solutions can be deployed by analyzing and correlating data from various sources that can detect cyberattacks. This represents significant opportunities for the Europe artificial intelligence in defense market. Furthermore, with the rising awareness regarding quantum computing and AI technologies, the government is focused on enhancing its defense capabilities with advanced technologies. Thus, the incorporation of quantum computing in artificial intelligence is anticipated to create lucrative opportunities for the Europe artificial intelligence in defense market during the forecast period.
On the contrary, concerns over humanitarian protection hampers the Europe artificial intelligence in defense market.
Based on component, the Europe artificial intelligence in defense market is segmented into hardware, software and services. The software segment held 62.9% share of Europe Artificial Intelligence in Defense Market in 2023, amassing US$ 1,117.13 million. It is projected to garner US$ 2,034.85 million by 2028 to expand at 12.7% CAGR during 2023–2028.
Based on technology, the Europe artificial intelligence in defense market is segmented into advanced computing, ai systems and learning and intelligence. The advanced computing segment held 44.9% share of Europe Artificial Intelligence in Defense Market in 2023, amassing US$ 797.74 million. It is projected to garner US$ 1,469.19 million by 2028 to expand at 13.0% CAGR during 2023–2028.
Based on platform, the Europe artificial intelligence in defense market is segmented into naval, land, and air. The land segment held 46.0% share of Europe Artificial Intelligence in Defense Market in 2023, amassing US$ 816.09 million. It is projected to garner US$ 1,418.75 million by 2028 to expand at 11.7% CAGR during 2023–2028.
Based on application, the Europe artificial intelligence in defense market is segmented into cyber security, battlefield healthcare, logistics and transportation, warfare platform and others. The warfare platform segment held 37.1% share of Europe Artificial Intelligence in Defense Market in 2023, amassing US$ 659.52 million. It is projected to garner US$ 1,097.77 million by 2028 to expand at 10.7% CAGR during 2023–2028.
Based on country, the Europe artificial intelligence in defense market has been categorized into Germany, the UK, France, Italy, Russia, and Rest of Europe. Our regional analysis states that the Russia captured 26.6% share of Europe Artificial Intelligence in Defense Market in 2023. It was assessed at US$ 473.18 million in 2023 and is likely to hit US$ 902.23 million by 2028, exhibiting a CAGR of 13.8% during the forecast period.
Key players dominating the Europe artificial intelligence in defense market are BAE Systems Plc; International Business Machines Corp; Leidos Holdings Inc; Lockheed Martin Corp; Raytheon Technologies Corp; Thales SA, among others.
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