Increasing use of AI to boost missile defense market: reportNews
September 28, 2022
DUBLIN, Ireland. The global missile defense system market will grow from $23.92 billion in 2022 to $31.32 billion in 2026, with increased use of artificial intelligence (AI) a big factor in the market over that period.
The report, from Research and Markets, states that increasing use of AI is a "key trend gaining popularity" in the market.
"Artificial intelligence is computer intelligence or intelligence demonstrated by a machine to help perform simple tasks more efficiently or tasks that couldn't be performed otherwise," the report states. "Developments in artificial intelligence are the discovery of knowledge that helps in developing products using AI or machine learning."
North America is the largest region in the missile defense market, states the report, which also notes that a surge in defense spending around the world is likely to fuel growth in the market. The United States makes up for 39% of total military spending worldwide.