At 7.1% CAGR, the South & Central America Artificial Intelligence in Defense Market is projected to be worth US$ 184.15 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America artificial intelligence in defense market was valued at US$ 130.93 million in 2023 and is expected to reach US$ 184.15 million by 2028, registering a CAGR of 7.1% 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 South & Central America artificial intelligence in defense market expansion.        

Unmanned aerial vehicles (UAVs) or drones based on AI technologies can be used in the military for security missions. These UAVs are equipped with various sensors and cameras that enable them to gather real-time information about the terrain and detect risks of potential threats for multiple applications, including warfare systems and cybersecurity. By using artificial intelligence and deep learning, UAVs constitute a new chance for autonomous operations and flight. Computer vision has progressed in image classification and segmentation and object detection, making it an attractive research field when applied on UAVs. Artificial intelligence is essential in UAVs in military operations for decision making. The AI-based unmanned aerial vehicles add many benefits to the defense sector. Furthermore, advancements in artificial intelligence and machine learning and their integration with UAVs allow UAV manufacturers to advance their portfolios. Their state-of-the-art products help make real-time data-driven decisions by enabling high-speed data capture and processing. Such partnerships, collaborations, and contracts for the adoption and development of UAVs with AI technologies boost the growth of the South & Central America artificial intelligence in defense market.

On the contrary, concerns over humanitarian protection hampers the South & Central America artificial intelligence in defense market.

Based on component, the South & Central America artificial intelligence in defense market is segmented into hardware, software, and services. The software segment held 63.9% share of South & Central America Artificial Intelligence in Defense Market in 2023, amassing US$ 83.69 million. It is projected to garner US$ 120.57 million by 2028 to expand at 7.6% CAGR during 2023–2028. 

Based on technology, the South & Central America 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 South & Central America Artificial Intelligence in Defense Market in 2023, amassing US$ 58.75 million. It is projected to garner US$ 85.23 million by 2028 to expand at 7.7% CAGR during 2023–2028.

Based on platform, the South & Central America artificial intelligence in defense market is segmented into naval, land, and air. The land segment held 49.5% share of South & Central America Artificial Intelligence in Defense Market in 2023, amassing US$ 64.78 million. It is projected to garner US$ 89.96 million by 2028 to expand at 6.8% CAGR during 2023–2028.

Based on application, the South & Central America artificial intelligence in defense market is segmented into cyber security, battlefield healthcare, logistics and transportation, warfare platform and others. The warfare platform segment held 44.0% share of South & Central America Artificial Intelligence in Defense Market in 2023, amassing US$ 57.59 million. It is projected to garner US$ 76.82 million by 2028 to expand at 5.9% CAGR during 2023–2028.

Based on country, the South & Central America artificial intelligence in defense market has been categorized into Brazil and the Rest of South & Central America. Our regional analysis states that the Brazil captured 59.2% share of South & Central America Artificial Intelligence in Defense Market in 2023. It was assessed at US$ 77.57 million in 2023 and is likely to hit US$ 113.80 million by 2028, exhibiting a CAGR of 8.0% during the forecast period.

Key players dominating the South & Central America artificial intelligence in defense market are BAE Systems Plc; International Business Machines Corp; Lockheed Martin Corp; SparkCognition Inc; and Thales SA, among others.

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