Quantum Computing in Aerospace & Defense Market Size is expected to reach USD 7.267 Billion by 2030, registering a CAGR of 16.2% during 2020-2030.
The quantum computing in aerospace & defense market is expected to gain significant traction during the forecast period. Various countries such as the US and China are investing significantly in the development of quantum computing technologies. Moreover, high military investments in various regions are expected to drive market growth during the review period.
Quantum Computing in Aerospace & Defense Market offers several advantages over traditional computing such as synchronization of weapon systems platforms which could provide a strategic edge to the military. Quantum computers can process large amounts of data which can help militaries develop war strategies and efficient communication networks to improve defense operations.
The adoption of artificial intelligence (AI) is increasing in the military. Systems integrated with AI and quantum computing are expected to strengthen military prowess by providing capabilities such as enhanced security to critical military infrastructure. Moreover, high military expenditure in various countries such as the US, China, and Saudi Arabia is expected to positively influence market growth during the forecast period.
The use of Quantum Computing in Aerospace & Defense Market by militaries is expected to enhance the security of battlefield communication. Moreover, naval forces are expected to benefit from quantum computing as they could navigate in the ocean undetected. Research centers in Canada are currently working on technology such as quantum radar which is expected to help the military detect threats over large distances.
Chinese research groups have also been working on quantum technology in recent years. Researchers have built a satellite using QKD that is capable of sending quantum encrypted messages over long distances.
On the basis of component, the market has been segmented into hardware, software, and services. The software segment is expected to register the highest CAGR during the forecast period. Key companies such as IBM Corporation and 1qb Information Technologies Inc. are expected to drive the growth of the segment through their wide range of quantum computer software products. For example, IBM Corporation developed its own quantum computer called the Q System One.
Based on application, the Quantum Computing in Aerospace & Defense Market has been divided into quantum key distribution (QKD), quantum cryptanalysis, and quantum sensing. The quantum key distribution (QKD) segment was the largest segment in 2018 and is expected to be the fastest-growing during the forecast period. QKD technology enables data security which can be used by the military to protect critical infrastructure such as for energy distribution and telecommunication networks.
On the basis of region, the Quantum Computing in Aerospace & Defense market has been classified as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market in Asia-Pacific is expected to witness significant growth owing to large-scale investments in quantum computing in China and Japan. The Government of China is expected to invest approximately USD 10 billion in building the National Laboratory for Quantum Information Sciences by 2020. The center is expected to carry out research and development in the field of quantum computing.
The key players in the global quantum computing in aerospace & defense market are D-Wave Systems Inc. (US), Qxbranch LLC (US), IBM Corporation (US), Cambridge Quantum Computing Ltd (UK), 1qb Information Technologies Inc. (Canada), QC Ware Corp. (US), Magiq Technologies Inc. (US), Station Q-Microsoft Corporation (US), and Rigetti Computing (US).
The market values and forecast are derived using the MRFR research methodology, which includes secondary research, primary interviews, data triangulation and validation from an in-house data repository, and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
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|Market Size||USD 7.267 Billion|
|Forecast Units||USD (Value)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, Application|
|Key Vendors||D-Wave Systems Inc. (US), Qxbranch LLC (US), IBM Corporation (US), Cambridge Quantum Computing Ltd (UK), 1qb Information Technologies Inc. (Canada), QC Ware Corp. (US), Magiq Technologies Inc. (US), Station Q-Microsoft Corporation (US), and Rigetti Computing (US).|
|Key Market Opportunities||Regional attractiveness and related growth opportunities|
|Key Market Drivers||The adoption of artificial intelligence (AI) is increasing in the military. Systems integrated with AI and quantum computing|
Global quantum computing in the aerospace & defense market 2020 is projected to register a substantial 24% CAGR in the forecast period.
The massive demand for quantum computing in aerospace & defense due to the growing investments from the military sector is the primary growth inducer of the market.
The software segment is expected to observe substantial demand over the review period.
The quantum key distribution (QKD) segment is expected to secure the highest CAGR.
A few eminent market players operating in the global quantum computing in the aerospace & defense market are IBM Corporation (US), D-Wave Systems Inc. (US), Qxbranch LLC (US), among others.