Report 'sees' IoT, AI, 3D printing driving next-gen battlefield

January 30, 2020 //By Jean-Pierre Joosting
Report 'sees' IoT, AI, 3D printing driving next-gen battlefield
In their latest report, BIS Research contends that the next generation battlefield technology market was valued at $16.66 billion in 2018 and is projected to reach $42.12 billion by 2024. The market is expected to grow at a CAGR of 17.02% during the forecast period from 2019 to 2024.

BIS say that the market has been witnessing a high growth rate, owing to the increasing expenditure and modernization in the defense industry for developing military equipment. Moreover, the rapid technological advancement and integration of artificial intelligence and robotics in military as well as the growing demand for cloud services in military are expected to gradually increase the demand for next generation battlefield technologies in the market.

The rising adoption of artificial intelligence and Internet of Things for execution of military operations for engine and structure of military vehicles through 3D printing are some of the major factors expected to create lucrative opportunities for the global next generation battlefield technology market in the coming five years.

With recent developments in AI, IoT, 3D printing, and wearable devices, various equipment such as unmanned ground vehicles, unmanned marine vehicles, unmanned aerial vehicles, armored fighting vehicles, submarines, as well as fighter jets and ships are expected to be available at reasonable costs for manufacturing industries. In addition, as the complexity of automating tasks increases, the adoption of next generation technologies is anticipated to rise, as these technologies are expected to enhance the production capabilities of manufacturing industries. Therefore, the impact of next generation technologies is expected to grow along with improved levels of new automation technologies.

According to Swati Chaturvedi, Lead Analyst at BIS Research, "Next generation battlefield technologies, namely artificial intelligence, Internet of Things, 3D printing, and wearable devices help in controlling and making use of connected network of objects and machines. These technologies enable communication among different networks for accomplishing critical tasks without any human intervention, thus helping the military forces during battlefields".

www.bisresearch.com


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