Quantum Computing in Aerospace & Defense Market Overview
Quantum Computing in Aerospace & Defense Market Size was valued at USD 2.44 Billion in 2023. Quantum Computing in the Aerospace & Defense market industry is projected to grow from USD 2.73768 Billion in 2024 to USD 8.11 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.53% during the forecast period (2024 - 2032). The military is increasingly adopting artificial intelligence (AI), and quantum computing in the aerospace and defense market offers various benefits over classical computing. For example, the synchronization of weapon systems platforms that might give the military a tactical advantage are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Quantum Computing in Aerospace & Defense Market Trends
- Growing technology advancement is driving the market growth
The rising technology advancement drives Market CAGR for quantum computing in aerospace & defense. As a result of recent developments in quantum computing, numerous businesses can expand their computing capabilities through public and private initiatives. Leading businesses intend to release quantum hardware and software for purchase as quantum computing research advances. On the other side, other businesses aim to offer customers software applications and a cloud-based computing platform. The best solutions for tackling numerous issues, including applications and programming, execution and run-time, and architecture design of quantum computing, depend heavily on software. The software, which used a straightforward method for run-time compilation with quick and reliable operations, was one of the main challenges in earlier execution models, according to the Quantum Computing Institute of Oak Ridge National Laboratory. Additionally, several young businesses and research institutions, like 1QBit, QxBranch, and QCWare, are bridging the gap between exploratory research and big businesses.
It is projected that quantum computers would function in qubits number to solve issues beyond the capabilities of classical supercomputers due to the rapid development of quantum hardware technology. According to IBM Research, Quantum Annealer, Analogue Quantum, and Universal Quantum are the three main categories of quantum computers. However, because of the unique characteristics and specifications of hardware, their fabrication is quite difficult. For instance, one producer of commercial adiabatic quantum computers, D-Wave Systems Inc., predicted that the speed of its next quantum computer would be 2000 qubits. Other notable companies working on hardware for quantum computing include Google, MIT Lincoln Laboratory, and Intelligence Advanced Research Projects Activity (IARPA), in addition to D-Wave. Governments worldwide are investing significantly in quantum technology to entice companies and end users to take advantage of these technology's potential.
Additionally, they pledge significant money to improve domestic quantum technologies. For instance, China has made significant investments in various computing technology R&D. It has announced funding of over USD 15 billion, which is expected to be more than all other countries combined. The governments of Australia, the United States, and the industrialized countries in the European Union are all pursuing computing-related initiatives. Thus, driving the Quantum Computing in Aerospace & Defense market revenue.
Quantum Computing in Aerospace & Defense Market Segment Insights
Quantum Computing in Aerospace & Defense Component Insights
Based on type, the Quantum Computing in Aerospace & Defense market segmentation includes Hardware, Software, and Services. The hardware segment dominated the market, accounting for 35% of market revenue. For quantum computing, numerous hardware platforms are being created. The most advanced technology, superconducting circuits and trapped ions form the foundation of any commercially available quantum computer. Other potential platforms include neutral atoms, photonic networks, and spin qubits.
Quantum Computing in Aerospace & Defense Application Insights
The Quantum Computing in Aerospace & Defense market segmentation, based on Application, includes quantum key distribution [QKD], quantum cryptanalysis, and quantum sensing. The quantum key distribution [QKD] category generated the most income. Businesses are implementing quantum key distribution techniques for their complex ecosystems, and most are investing in space-based optical communication to build a worldwide quantum network with security applications. Solution providers are encouraged to implement new quantum cryptography technology to provide secure communication and data transmission networks worldwide by the growing demand for cloud-based and real-time encryption software.
Figure 1: Quantum Computing in Aerospace & Defense Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Quantum Computing in Aerospace & Defense Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. North American Quantum Computing in the Aerospace & Defense market area will dominate this market, owing to an increase in the number of persons affected by cardiovascular devices and obesity. In addition, the growing number of established health clubs and fitness facilities will boost market growth in this region.
Thus the major countries studied in the market report are The US, Canada, German, France, the UK, Spain, China, Italy, Japan, India, Australia, South Korea, and Brazil.
Figure 2: QUANTUM COMPUTING IN AEROSPACE & DEFENSE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Due to the cheap cost of bariatric surgery and the rise in the prevalence of diabetes, Europe holds the second-largest market share in the Aerospace & Defence sector for quantum computing. In addition, the UK has the fastest-growing market in the European region for quantum computing in the aerospace and defense sector, with Germany having the greatest market share.
The Asia-Pacific Quantum Computing in the Aerospace & Defense Market is expected to grow fastest from 2023 to 2032. This is due to expanding awareness of a healthy lifestyle and nutrition and rising per capita disposable income. Moreover, China's Quantum Computing in the Aerospace & Defense market held the largest market share, and Indian Quantum Computing in the Aerospace & Defense market was the fastest-growing market in the Asia-Pacific region.
Quantum Computing in Aerospace & Defense Key Market Players & Competitive Insights
Leading market companies are extensively spending R&D on increasing their product lines, which will help the Quantum Computing in Aerospace & Defense market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Quantum Computing in Aerospace & Defense industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.
Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Quantum Computing in Aerospace & Defense industry to serve clients and expand the market sector. The Quantum Computing in Aerospace & Defense industry has provided some of the most important benefits recently. Major players in the Quantum Computing in Aerospace & Defense market, including GQuiX Quantum and others, are attempting to increase market demand by investing in research and development operations.
The Netherlands' Enschede is home to the photonic quantum technology startup QuiX Quantum. At the center of the Twente photonics ecosystem, on the University of Twente campus, their company is conveniently placed next to important partners like Lionix International and PHIX. They collaborate extensively with their technology partners, clients, and customers to continuously develop our products because they think of quantum as an ecosystem. In September 2023, The German aerospace center and Quix Quantum agreed to deliver 64 and 8-qubit universal quantum computers. Based on photonics, these systems will combine today's processors, feedforwards, sources, and detectors with those of tomorrow.
The main direct descendant of John D. Rockefeller's Standard Oil is the American multinational oil and gas company Exxon Mobil Corporation, also known as Exxon. Vertically integrated across the whole oil and gas sector, the firm, which adopted its current name in 1999 due to Exxon and Mobil's merger, also includes a chemicals section that makes plastic, synthetic rubber, and other chemical products. Although ExxonMobil was formally formed in New Jersey, its headquarters are in the Houston suburb of Spring, Texas. In January 2019, ExxonMobil and IBM entered into a partnership agreement to further the potential Application of quantum computing in creating cutting-edge manufacturing and energy technologies. The development of quantum computing may solve complex computational issues in various applications, such as improving the efficiency of a regional power grid and doing more accurate environmental modeling.
Key Companies in the Quantum Computing in Aerospace & Defense market include
- 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)
- Rigetti Computing (US).
Quantum Computing in Aerospace & Defense Industry Developments
June 2023: Griffiss Institute, a center of innovation run by the Air Force Research Laboratory Information Directorate, has accepted BosonQ Psi into the HUSTLE Defence Accelerator program. The program offers training for tech businesses developing technologies essential to national security. BosonQ Psi will have access to experts that can advise them on funding and cooperation opportunities with the government. According to CEO Abhishek Chopra, the alliance would support growth acceleration and provide quantum computing solutions to the defense industry, particularly aerospace.
January 2023: Aerospace and defense are still seen as a market for early adoption of quantum computing technologies. D-Wave Quantum is looking to take advantage of whatever early possibilities it can discover as a newly public business. D-Wave can achieve that goal with the aid of a new reseller agreement with Davidson Technologies, Inc., a provider of cutting-edge engineering, technical, and management solutions to the U.S. Department of Defence, aerospace, and commercial clients.
Quantum Computing in Aerospace & Defense Market Segmentation
Quantum Computing in Aerospace & Defense Component Outlook
- Hardware
- Software
- Services
Quantum Computing in Aerospace & Defense Application Outlook
- Quantum Key Distribution [QKD]
- Quantum Cryptanalysis
- Quantum Sensing
Quantum Computing in Aerospace & Defense Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Quantum Computing Aerospace Defense Market Highlights:
