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Aerospace Artificial Intelligence Market size is set to grow by USD 4.69 billion from 2024-2028, Rise in global air traffic boost the market, Technavio

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NEW YORK, May 30, 2024 /PRNewswire/ — The global aerospace artificial intelligence market  size is estimated to grow by USD 4.69 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  43.6%  during the forecast period. 

For more insights on the forecast market size and historic data (2018 – 2022) – Download a Sample Report

Segment Overview 

Component 1.1 Software1.2 Hardware1.3 ServicesEnd-user 2.1 Machine learning2.2 Natural language processing2.3 Computer vision2.4 Context awareness computingGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Software-  Aerospace Artificial Intelligence (AI) market growth is driven by the integration of AI software in unmanned aerial vehicles (UAVs), drones, and spacecraft. This software optimizes performance, enhances safety, and predicts equipment failures for proactive maintenance. In mission planning, AI considers various factors for efficient and effective plans.

Space exploration benefits from AI for autonomous navigation, object recognition, and data analysis. Air traffic management systems use AI for optimized air traffic flow and conflict resolution. Overall, AI enhances communication systems’ efficiency and reliability, contributing to the market’s expansion.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Aerospace Artificial Intelligence Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 43.6%

Market growth 2024-2028

USD 4694.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

40.42

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 36%

Key countries

US, China, Japan, Russia, and Germany

Key companies profiled

Advanced Micro Devices Inc., Airbus SE, Deutsche Telekom AG, General Dynamics Corp., General Electric Co., Honeywell International Inc., Indra Sistemas SA, Infosys Ltd., Intel Corp., International Business Machines Corp., Iris Automation Inc., Lockheed Martin Corp., Microsoft Corp., Northrop Grumman Corp., NVIDIA Corp., Raytheon Technologies Corp., SITA, SparkCognition Inc., Thales Group, and Shield AI

Market Driver

The integration of Natural Language Processing (NLP) in the aerospace industry’s artificial intelligence (AI) market significantly enhances human-machine interaction in cockpit systems. NLP allows pilots to communicate with aircraft systems using natural language commands, improving user experience and reducing cognitive workload.

Advanced NLP systems understand various accents and languages, making them essential in the diverse global aerospace industry. NLP also enables voice-controlled cockpit operations, streamlines processes, and enhances situational awareness for informed decision-making. Integration with AI-based virtual assistants further enhances the intelligent and supportive cockpit environment. NLP’s adoption in pilot training programs also boosts proficiency and market growth during the forecast period. 

The aerospace industry is increasingly adopting Artificial Intelligence (AI) to enhance operations and improve efficiency. Machine learning algorithms are being used for predictive maintenance in aviation, while computer vision technology is being applied to drones for object detection and recognition. Autopilot systems are becoming more sophisticated, allowing for safer and more efficient flights. Markets for aerospace AI are growing, with components and software in high demand.

Companies are investing in research and development to stay competitive. Safety and security are top priorities, with regulations being put in place to ensure the safe integration of AI into aerospace systems. The future of aerospace AI looks bright, with advancements in areas such as satellite imaging and route optimization set to revolutionize the industry. 

Market Challenges

The aerospace artificial intelligence market faces significant challenges due to data security and privacy concerns. Unauthorized access to sensitive flight data and operational parameters could compromise aviation safety and efficiency. Cyber threats targeting AI systems increase the attack surface, posing risks such as disrupting flight operations, manipulating data, or compromising algorithm integrity. Protecting communication systems and training datasets is crucial to prevent unauthorized access and potential misuse of aviation-related information.Compliance with data protection regulations, such as GDPR, adds complexity. Balancing security needs with privacy rights is essential when processing passenger data. Maintaining AI system security over extended operational lifecycles and addressing evolving cybersecurity threats are ongoing challenges. Ethical concerns related to surveillance and monitoring also require careful consideration. These challenges may inhibit market growth during the forecast period.The aerospace industry is increasingly adopting Artificial Intelligence (AI) to enhance operational efficiency and innovation. However, implementing AI in this sector comes with unique challenges. One major challenge is ensuring data accuracy and reliability in complex and dynamic environments. Another challenge is integrating AI systems with existing legacy systems and ensuring compatibility. Additionally, ensuring data security and privacy in the context of increasing data usage is a significant concern.Furthermore, the need for real-time processing and decision-making in critical situations requires robust and reliable AI systems. Lastly, the high cost of developing and implementing AI solutions in the aerospace industry remains a significant barrier. Despite these challenges, the potential benefits of AI in areas such as predictive maintenance, autonomous systems, and optimization of operations make it a worthwhile investment for the future of the aerospace industry.

Research report provides comprehensive data on impact of trend, driver and challenges – Request a sample report!

Research Analysis

The Aerospace Artificial Intelligence (AI) market is experiencing significant growth due to the integration of advanced technologies such as machine learning, computer vision, and big data analytics in various applications. AI models are being utilized in flight operations for predictive maintenance, pilot training, and air traffic control. In customer service, AI software is used for voice recognition and virtual assistant services to enhance the overall flying experience.

Computer programs that mimic human intelligence are being employed for observation tasks, including time series analysis to optimize aircraft performance and improve safety. AI is revolutionizing the aerospace sector by automating repetitive tasks, enhancing decision-making capabilities, and increasing operational efficiency.

Market Research Overview

The Aerospace Artificial Intelligence (AI) market encompasses the development, implementation, and integration of AI technologies in the aerospace industry. This includes the use of machine learning, deep learning, computer vision, and natural language processing in areas such as flight control, maintenance, and manufacturing. The market is driven by the need to increase efficiency, reduce costs, and improve safety in the aerospace sector.

Applications of AI in aerospace range from predictive maintenance of aircraft components to autonomous flight control systems. The market is expected to grow significantly due to increasing investments in research and development and the increasing demand for smart and connected aerospace systems. Safety and security concerns, however, remain key challenges in the market. The use of AI in aerospace also raises ethical and regulatory issues that need to be addressed.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareHardwareServicesEnd-userMachine LearningNatural Language ProcessingComputer VisionContext Awareness ComputingGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Safety Is the Ultimate Luxury: Chery’s Flagship TIGGO 9 Makes Global Debut

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DUBAI, UAE, Dec. 23, 2024 /PRNewswire/ — On December 19, TIGGO 9 was simultaneously launched in the UAE and Kuwait. The event was attended by Ms. Ou Boqian, Consul General of the Chinese Consulate in Dubai, Mr. Wang Xiaojia, Commercial Counsellor, and Mr. Zhang Guibing, General Manager of Chery International. Tim Zhang, General Manager of the Middle East region, Chery International, introduced Chery’s strategic plans for the UAE/GCC market. At the launch event, the Kuwait Tower and the UAE Burj Khalifa lit up on the same day, symbolizing Chery’s global ambitions and aspirations.

TIGGO 9 features a brand-new family design, with a front end incorporating bionics principles, highlighting strength and safety. The vehicle’s body follows the golden ratio to create visual harmony. Regarding safety, based on the concept of “Safety is Luxury,” it meets global five-star standards and is equipped with an L2+ ADAS to ensure driving safety. In terms of smart technology, it comes with APA (Automatic Parking Assist), a large HD screen, and high-performance chips, setting a new benchmark for technological luxury. Luxury features include an extra-wide body, 10-point massage, “One-Touch Recline” function, and Sony audio system, all enhancing the SUV’s comfort experience. For power, the PHEV version combines a 1.5T hybrid engine with a three-speed DHT gearbox for strong performance and a thermal efficiency of up to 44.5%. The ICE version has a 2.0TGDI engine and an 8AT transmission, showcasing exceptional performance.

The global debut of Chery TIGGO 9 reflects a precise understanding of consumer demand in the Middle East market and serves as a strong addition to Chery’s global product portfolio.

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SOURCE Chery Automobile Co., Ltd.

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HuLoop Announces Series A Funding Led by Mighty Capital

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AI-Based Intelligent Automation Leader to Accelerate Innovation, Invest in Customer Success and Expand Market Reach

AUBURN, Calif., Dec. 23, 2024 /PRNewswire/ — HuLoop Automation, the leader in radically simple, fast, and affordable AI-powered intelligent automation, today announced the successful closing of its Series A funding round.  While the specific terms aren’t being announced publicly, the round was led by San Francisco, California-based Mighty Capital, with significant participation from Folsom, California-based Moneta Ventures, which led HuLoop’s prior round.

This funding marks a major milestone for HuLoop as it accelerates its mission to simplify automation and empower businesses in key underserved segments like banks, credit unions, collections and retail enterprises. The investment will fuel the expansion of its team, enhance its unified automation platform, and drive customer growth and expansion.

“At HuLoop, we are committed to transforming key industries by making intelligent automation radically simple, fast, and affordable for businesses of all sizes,” said Todd P. Michaud, CEO of HuLoop Automation. “This latest round positions HuLoop to achieve even faster growth, faster innovation, and greater benefits for our customers.”

“HuLoop’s innovative approach, which blends cutting-edge AI with human-in-the-loop processes, represents the future of intelligent automation. Mighty Capital invests in companies with exceptional products because we believe the best product wins, and HuLoop is no exception,” said SC Moatti, Founder and Managing Partner at Mighty Capital.

Moatti, who also founded Products That Count, a large, global network of product managers, leverages this network to identify and invest in emerging innovation companies with strong product-focused strategies. “Our members are very focused on vertical AI solutions, particularly those centered on shaping the future-of-work and we believe that HuLoop is well-positioned to fill this market need,” said Moetti.

HuLoop defines its Unified Automation Platform as a single, integrated solution that combines multiple automation technologies—such as robotic process automation (RPA), workflow orchestration, intelligent document processing, and testing—into a cohesive system. This platform enables organizations to streamline complex business processes, reduce manual effort, and drive efficiency across the enterprise, while ensuring human-in-the-loop oversight to balance automation with human judgment.  The company has grown rapidly over the past two years, now serving more than 60 customers primarily in the financial services and commerce sectors.

“HuLoop’s success in the community banking sector reflects a pragmatic, cost-effective approach to technology adoption for productivity gains,” said Charles Potts, executive vice president and chief innovation officer for the Independent Community Bankers of America. “By combining automation with human intelligence, their human-in-the-loop process streamlines mundane tasks, allowing staff to focus on more critical customer interactions.”

The capital infusion will be primarily focused on helping HuLoop to accelerate product innovation, invest in customer success, and expand its market reach, helping customers’ companies unlock their productivity potential.

“I’d like to thank Mighty Capital, Moneta Ventures, our Founding Stakeholders, and all our investors for their belief and confidence in HuLoop. Your financial and strategic support is going to help us deliver innovative automation solutions that drive more success for our clients,” said Michaud.

About HuLoop Automation
HuLoop Automation delivers AI-powered intelligent automation solutions designed to boost productivity for companies of all sizes. Its Unified Automation platform provides businesses with tools to discover, automate, and test processes seamlessly. The platform includes three core modules: Intelligent Productivity Discovery, which empowers organizations to identify and prioritize automation opportunities with actionable insights; Intelligent Process Automation, which streamlines workflows by automating repetitive, manual tasks across systems and departments; and Intelligent Test Automation, which enhances quality assurance with automated testing for software, ensuring faster deployment cycles and higher reliability.

HuLoop’s no-code platform leverages advanced technologies such as process and task mining, robotic process automation (RPA), intelligent document processing (IDP), workflow, automated testing, using applied and generative AI, and complemented by human-in-the-loop features. These innovations enable businesses to achieve new levels of efficiency and success, empowering their workforce to focus on high-value tasks and drive transformative outcomes.

Media Contact:
Erin Leventhal
(858) 522-0357
erin@huloop.ai

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SOURCE HuLoop Automation, Inc.

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Inspur Smart Healthcare Participates in GITEX IMPACT 2024 Exhibition

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DUBAI, UAE, Dec. 23, 2024 /PRNewswire/ — From October 13th to 16th, the GITEX IMPACT 2024, Dubai’s Carbon Neutrality and Technology Exhibition, was held in Dubai. Organized by the Ministry of Economy and Ministry of Tourism of the United Arab Emirates, the exhibition focused on the forefront of sustainable development technologies, encompassing a wide range of sectors including construction, oil and gasoline, energy, and healthcare. It stands as one of the largest technology exhibitions in the Middle East and globally. Inspur Smart Health was invited to participate, showcasing its core products and cases of empowering the digital and intelligent transformation of the healthcare industry at the exhibition.

At the exhibition site, Inspur Smart Health introduced a series of products and solutions to government agencies and medical institutions, including the Health and Medical Big Data Intelligent Platform, Inspur Medical Industry International Trade Platform, Integrated Healthcare and Long-term Care Platform, Health Examination Center Solutions, Medical Group Information Management Platform, Internet Hospitals. These presentations comprehensively demonstrated Inspur Smart Health’s product innovation advantages and service capabilities.

Through this “debut” in the Middle East and even the global market, Inspur Smart Health has laid a solid foundation for further expanding its overseas “circle of friends” and establishing international brand recognition. In the future, Inspur Smart Health will continue to leverage its technological advantages in big data and artificial intelligence, constantly enhance the internationalization level of its products and solutions, deepen the exploration of overseas markets, and contribute to the thriving development of the global medical digital industry.

View original content:https://www.prnewswire.com/apac/news-releases/inspur-smart-healthcare-participates-in-gitex-impact-2024-exhibition-302338199.html

SOURCE Shandong Inspur Intelligent Medical Technology Co., Ltd.

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