Artificial Intelligence & Robotics are going to dominate the expenditures in the defense market the next decade, this is the conclusion from the new market study launched by MarketForecast.com. Enormous potential of Natural Language Processing, Computer Vision and Robotics among other technologies are going to dominate the defense industry for the next 10 years.
The global Artificial Intelligence & Robotics in the Defense industry market, is valued at US $39.22 billion in 2018, is projected grow at a CAGR of 5.04%, to value US $61 billion by 2027. The cumulative market for global expenditure on AI & Robotics Defense Systems is valued at US $487 billion over the forecast period.
Demand for AI & Robotics defense systems is anticipated to be driven by the massive investment made by countries like US, China, Russia, Israel in the development of next generation defense systems and the large scale procurement of such systems by countries like Saudi Arabia, India, Japan and South Korea. The United States is the largest spender in the domain with China, India, Russia, Saudi Arabia, Japan and South Korea anticipated accounting for the bulk of spending.