AI, big data driving major growth in the air-based defense equipment market: reportNews
August 03, 2022
DUBLIN, Ireland. A new report predicts that the air-based defense equipment global market will grow from $178.46 billion in 2021 to $246.42 billion in 2026, with artificial intelligence and big data analytics serving as big drivers of the growth.
The report, from Research and Markets, states that the Asia-Pacific was the largest region in the air-based defense equipment market in 2021, although Western Europe is expected to be the fastest growing region between now and 2026.
"Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) are expected to drive innovation in the air-based defense market, thus driving the market during the forecast period," the report states. "Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins."
The report adds that 3D printing could have a particularly large impact on the market moving forward.
"3D printing is used in air-based equipment manufacturing to create military aircraft parts with complex geometries quickly at a low cost," the report states. "The technology creates three-dimensional models of aircraft parts using metals, plastics, polymers, ceramics, and other derivatives. For instance, in 2019, the U.S. Air force installed 17 3D printing parts on its C-5 Super Galaxy transport jet. The installed parts included crew bunk areas of the plane, overhead panels, reading, and emergency light covers, window reveals gasper panels and aluminum seal retention handles."