Tech Brief: Artificial Intelligence Having Huge Influence on Global Military Market
Palm Beach, FL – November 21, 2019 – While Artificial intelligence (AI) has become an ever-increasing part of consumers typical daily lifestyles, the military uses of AI will have an even more effect in the global military market. A recent report from Zion Market Research sad that the global artificial intelligence in military market was valued at approximately USD 4,800 million in 2018 and is expected to generate around USD 16,300 million by 2026, at a CAGR of around 14.5% between 2019 and 2026. Another report from ResearchAndMarkets projects that the Global Military Artificial Intelligence Market report projects the market to grow at a significant CAGR of 18.66% on the basis of value during the forecast period from 2019 to 2024. It said that North America dominated the global military artificial intelligence market with a share of 48.23% in 2019. It added: “North America, including the major countries such as the U.S., is the most prominent region for the military artificial intelligence market. In North America, the U.S. acquired a major market share in 2019 due to the major deployment of countermeasures in the defense sector in the country. The global military artificial intelligence market has gained widespread importance owing to the rising adoption of artificial intelligence for the military operation.” Active companies in the markets this week include Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Hawkeye Systems, Inc. (OTCQB: HWKE), Lockheed Martin Corporation (NYSE: LMT), Patriot One Technologies Inc. (OTCQX: PTOTF) (TSX: PAT.TO), FLIR Systems, Inc. (NASDAQ: FLIR).
In an article posted on defense.gov, U.S. military personnel acknowledged the need to win the AI war. In that article, Air Force Lt. Gen. Jack Shanahan said that as AI advances in acceptance and applicability, he expects that funding level to increase over the course of the next five years. He added that : “It’s important for the Defense Department to communicate to the American people the importance of AI to national security.”
Hawkeye Systems, Inc. (OTCQB: HWKE) NEWS: Hawkeye announced not too long ago that it has entered into a Cooperative Research and Development Agreement (CRADA) with the Department of Defense(DOD). The CRADA agreement marks a pivotal milestone for Hawkeye to work collaboratively with the DOD within their various departments to streamline process and further build upon their technology capabilities. Hawkeye will work exclusively to provide technologies and systems that meet DOD capability gaps.
Hawkeye Systems is tasked with developing innovative technologies, materials, components, material combinations, software, modeling, simulations and systems for various DOD applications. The goal is to provide an enhanced operational capability to DOD assets through the development of novel solutions and technologies. Through the interaction and cooperation authorized by this CRADA, the DOD and Hawkeye Systems will develop technologies tailored for Department of Defense needs.
In additional AI news from HWKE, Hawkeye Systems, Inc. Radiant Images was recently crowned leading innovator in 360 image analysis solution for the coveted 2019 Artificial Intelligence Awards by AI Global’s Wealth & Finance International for their AXA Volumetric Stage and its development of holographic video technology.
The Artificial Intelligence Awards were launched to acknowledge exemplary performance and innovation to those companies and key individuals involved within this rapidly evolving market. From streamlining operations to informing better decision making, technology clearly has the potential to revolutionize the future. With technology developments, AI can be applied to nearly every sector.of Defense needs.
Other recent developments in the tech/military industries this week include:
Lockheed Martin Corporation (NYSE: LMT) The world’s latest generation solid-state radar technology, formerly known as Lockheed Martin’s (LMT) Solid State Radar (LM SSR), has been designated as AN/SPY-7(V)1 by the United States government. The designation of AN/SPY-7(V)1 is a direct reflection of the maturity and capability of Lockheed Martin’s solid-state rada technology.
“Lockheed Martin’s solid state solution meets the mission now and is flexible to adapt to the evolving threats of the future,” said Paul Lemmo, vice president and general manager at Lockheed Martin. “This new designation solidifies our ability to provide the most technically advanced capabilities our warfighters require.”
Patriot One Technologies Inc. (OTCQX: PTOTF) (TSX: PAT.TO) developer of the PATSCAN™ Multi-Sensor Covert Threat Detection Platform, and ReconaSense, a next-gen physical security intelligence and access control company, recently announced an integrated solution for covert weapons detection and automated lockdown intended to detect and deter potential attacks, and save more lives. The solution was demonstrated at the International Association of Chief of Police (IACP) Annual Conference & Expo, Oct. 26-29 in Chicago.
The PATSCAN Platform and its sensor components can be covertly deployed to detect visible threats as well as concealed weapons on a body or in a bag. Once detected, onsite security is notified instantly via mobile phone, tablet, or desktop so they can respond quickly and effectively to the situation.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) a leading National Security Solutions provider, recently announced that its Kratos Microwave Electronics Division (KMED) has recently received approximately $15 million in orders in support of Command, Control, Communication, Computing and Combat System (C5) related orders. KMED is a leading provider of C5 products in support of missile, radar, missile defense, electronic warfare, communication and other systems. Work under these recent orders will be performed in secure Kratos production facilities. Due to competitive, customer related and other considerations, no additional information will be provided related to these recent contract awards.
FLIR Systems, Inc. (NASDAQ: FLIR) recently announced the FLIR StormCaster™ family of Unmanned Aerial System (UAS) payloads for its SkyRanger® R70 and R80D SkyRaider® airframes. The new line launches with two multi-sensor products –StormCaster-T, which delivers continuous zoom and longwave infrared (LWIR) imaging; and StormCaster-L, which provides ultra-low-light imaging, tracking, and mapping.
StormCaster represents FLIR Systems’ next generation payload family for the company’s own UAS airframes gained through the acquisition of Aeryon Labs in February 2019. The new line reflects a leap forward in scalable performance, offering a 7X improvement in line-of-sight stabilization, enhanced range of motion, and greater geolocation accuracy – all in a rugged package. Interoperability across the StormCaster family enables users to quickly and easily change modules on the FLIR SkyRanger and SkyRaider UAS systems. The StormCaster line will leverage continuing improvements in aircraft performance, providing small units with the organic capability to conduct increasingly demanding missions such as intelligence, surveillance, and reconnaissance (ISR).
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