Autonomous Military Weapons Market:
WiseGuyReports.com adds “Global Autonomous Military Weapons Market Research Report 2020 Analysis and Forecast 2030” reports to its database.
Executive Summary
The global autonomous military weapons market is expected to decline from $11.51 billion in 2019 to $10.97 billion in 2020 at a compound annual growth rate (CAGR) of -4.69%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to reach $10.09 billion in 2023 at CAGR of -2.75%.
The autonomous military weapons market consists of sales of autonomous military weapons, which when activated, search, detect, evaluate the threat, track and attack enemy targets and work based on sophisticated algorithms without further intervention by a human operator. It requires the integration of several core elements like a mobile combat platform such as drone aircraft, ship, or ground vehicle, various types of sensors to scrutinize the surroundings, processing systems to classify objects discovered by the sensors, and algorithms directing the platform to initiate attack when an allowable target is detected. The market consists of revenue generated by the companies manufacturing autonomous military weapons by the sales of these products.
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In March 2018, IMI systems, a state-owned weapons maker of Israel, was sold to Elbit for $522 million. IMI systems was the manufacturer of the Uzi sub-machine gun and the Galil assault rifle. It manufactures armored vehicles and also trains security agents. The deal will create a company with a heavy emphasis on research and development, and whose product range will extend from IMI’s shoulder-launched missiles, precision-guided mortar munitions and rocket-propulsion systems to Elbit’s portfolio of avionic systems, drones, and intelligence and cybertechnology. Elbit would also relocate the IMI facilities from central Israel to the southern Negev area.
The autonomous military weapons market covered in this report is segmented by type into autonomous; semi-autonomous. It is also segmented by product into missiles; rockets; guided bombs; target pods; others and by platform into land; airborne; naval.
The risk posed by autonomous weapons compelled the researchers and designers to decide against manufacturing them, hampering the growth of the market. For instance, in 2018, around 240 organizations involved in artificial intelligence and nearly 3,100 individuals vowed not to be involved in development of autonomous weapon systems. Moreover, in 2017, about 137 CEOs of companies in artificial intelligence urged the UN to ban lethal autonomous weapons. The strong objection from around the world to manufacture autonomous military weapons is a hindrance for the market growth.
The ability to perform dangerous tasks with precision contributed to the growth of autonomous military weapons market. Autonomy in weapons enables to keep army personnel away from dangerous tasks or any imminent risk to human life. Besides this, increased reaction speed in decision making and eyes on the target will potentially increase accuracy. It has access to larger amount of information, greater accuracy and greater predictability for certain functions freeing humans from dull or repetitive tasks along with permitting access to environments that are inaccessible to remote control technologies. Major countries such as the USA, China and Russia are significantly investing in artificial intelligence (AI) for weapons and are competing for superiority in this segment. For instance, Russia is investing $719 million until 2021 in the AI research and development for weapons. The ability to hit the target without human involvement along with minimizing risk to human life increased the demand for the autonomous military weapons market.
Major players in the autonomous military weapons market are Lockheed Martin, Boeing, Raytheon, AVIC, CASC, Rostec, Israel Aerospace Industries, Elbit Systems, Rafael, and STM.
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