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)

Advanced Computing Segment to Dominate Europe Artificial Intelligence in Defense Market During 2021–2028    

According to a new market research study on “Europe 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$ 3,169.95 million by 2028 from US$ 1,498.71 million in 2021. The market is estimated to grow at a CAGR of 11.3% from 2021 to 2028. The report provides trends prevailing in the Europe artificial intelligence in defense market along with the drivers and restraints pertaining to the market growth. Increasing adoption of artificial intelligence in unmanned aerial vehicles and integration of quantum computing in artificial intelligence are the major factor driving the growth of the Europe artificial intelligence in defense market. However, concerns over humanitarian protection in complex combat situations hinders the growth of Europe artificial intelligence in defense market.     

Owing to travel restrictions in European countries, the movement of people from one place to another was reduced drastically during the COVID-19 pandemic. The outbreak has heavily impacted economies across the region. Governments imposed lockdowns to curb the spread of the virus, which resulted in the shutdown of several industries. The supply and demand for military weapons continued to grow as government spending for the improvement of defense systems remained unaltered in 2020 and 2021. However, the lack of raw materials due to interruption of the supply chains led to the shuttering of production facilities, which slightly affected the market growth in 2020, especially due to the decreased manufacturing of artificial intelligence hardware systems. However, the demand for artificial intelligence services provided to various defense organizations across the European region was high. Therefore, the COVID-19 pandemic did not led to any severe effect on the European artificial intelligence in defense market. In 2021, with the relaxation of lockdown measures and the beginning of vaccination drives, supply chain stakeholders resumed working smoothly with the timely delivery of raw materials for artificial intelligence systems.

The Europe 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 logistics and transportation segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.

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 Europe 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, IBM Corporation and Raytheon Technologies Corporation will jointly develop advanced artificial intelligence, cryptographic, and quantum solutions for the aerospace, defense, and intelligence industries, including the federal government, as part of a strategic collaboration agreement.            

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