USD 35.9 Billion Artificial Intelligence and Robotics in Aerospace and Defense Market Reach by 2031 :Why Should Invest ?

December 08, 2023 06:38 PM GMT | By EIN Presswire
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Increased investment in AI & technological advancements for workflow optimization, cloud-based solutions and demand for AI & cognitive computing drive market.

PORTLAND, PORTLAND, OR, UNITED STATE, December 9, 2023 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "USD 35.9 Billion Artificial Intelligence and Robotics in Aerospace and Defense Market Reach by 2031 :Why Should Invest ?." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global artificial intelligence and robotics in aerospace and defense market size was valued at USD 17.2 billion in 2021, and is projected to reach USD 35.9 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.

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The use of artificial intelligence and robotics in the aerospace and defense sector that facilitates in-depth data tracking, increased investment in AI and technological advancements for workflow optimization, the increased use of cloud-based solutions, and the growing demand for AI and cognitive computing drive the growth of the global artificial intelligence and robotics in aerospace and defense market. Region-wise, North America is likely to dominate in terms of revenue in 2031.

The global artificial intelligence and robotics in aerospace and defense market is segmented on the basis of type, application, and region. By type, the market is sub-segmented into hardware, software, and services. As per application, the market is classified into military, commercial, and space. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on type, the software segment held the largest share in 2021, accounting for nearly three-fifths of the global artificial intelligence and robotics in aerospace and defense market and would dominate the market in terms of revenue through 2031. The same segment is estimated to witness the fastest CAGR of 8.8% during the forecast period. The report also discusses the hardware and services segments.

In terms of application, the military segment captured the largest market share of more than three-fifths of the global artificial intelligence and robotics in aerospace and defense market in 2021 and is expected to lead the trail during the forecast period. Moreover, the same segment is likely to achieve the fastest CAGR of 8.4% through 2031. The report also studies the commercial and space segments.

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Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global artificial intelligence and robotics in aerospace and defense market in 2021 and is likely to maintain its dominance during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 9.4% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.

Leading players of the global artificial intelligence and robotics in aerospace and defense market analyzed in the research include Airbus SE, IBM Corporation, Boeing Company, GE Aviation, Thales Group, Lockheed Martin Corporation, Intel Corporation, Raytheon Technologies Corporation, General Dynamics Corporation, and Microsoft Corporation.

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Covid-19 Scenario:

● The outbreak of the COVID-19 pandemic had a negative impact on the artificial intelligence and robotics in aerospace and defense market.

● Owing to travel bans, the revenue of airport operators and airlines declined in 2020 and 2021 in the commercial airline business. Consequently, the artificial intelligence and robotics in aerospace and defense market saw a slight decline.

● However, some major airlines and airport authorities invested in the implementation of artificial intelligence in various passenger processes at airports to improve safety and efficiency during the pandemic.

Thanks for reading this article you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Analytics LLP
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