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"The Aerospace and Defence Quantum Computing Market is Estimated to be USD XX Million in 2019 and it is Expected to Reach more than USD XX Billion By 2028, Likely to Grow at a CAGR of XX% During the Forecast Period."
Like the first digital computer, quantum computers offer the possibility of technology exponentially more powerful than the current system. Quantum computing is being extensively used to perform calculations and solve complex problems, with the utility of principals and attributes of quantum mechanics. This concept is highly driven by the yearning to escalate the capability of simulating and modelling complex data, advance the optimization and efficiency of systems or processes, and analyse problems with further precision. The potential of quantum computing far exceeded the current era of knowledge with the high applicability of the technology in various end-user industries
Integration of Quantum Technologies in Armed Forces will drive the Aerospace and Defence Quantum Computing market
The emergence of quantum computing applications is giving rise to multiple military & aerospace-related applications. Among these applications aerospace will play an important role in the growth of quantum computing by speeding up the computing process of process optimization and machine learning in the aerospace industry. The use of high-speed quantum computers in aerospace applications will greatly enhance complex computer modelling and simulation practices.
In military applications, quantum computing will find its usage mainly to develop secure satellite communication and precise navigation applications without the aid of GPS. Usage of quantum computing in navigation against GPS will help militaries to achieve precise synchronization among aircraft and multiple weapons systems
The Software Segment dominated the Aerospace and Defence Quantum Computing market with over 47.0% revenue share in 2018 in the Component Segment.
Based upon components, the market can be segmented into hardware, software, and services. The software is expected to grow at the highest CAGR during the forecast period. Key companies such as IBM Corporation and 1qp information technologies Inc are expected to drive the aerospace and defence quantum computing market
The Quantum Key Distribution Segment is forecasted to have the highest CAGR in the Forecast Period
Quantum key distribution is the fastest-growing segment in the Aerospace and Defense Quantum Computing market. Quantum key distribution technology enables data security that can be used by the military to protect critical infrastructures such as energy distribution and telecommunication networks.
Asia Pacific is expected to grow at the highest CAGR during the Forecast Period
The aerospace and defense quantum computing market 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 USD 10 billion in building the National Laboratory for Quantum Information Science By 2020.
However, North America has dominated the Aerospace and Defense Quantum Computing market with the largest share of the market due to increasing the presence of a well-established defense sector. Europe is expected to witness significant growth due to developing infrastructure in this region.
For instance, industry giants such as Lockheed Martin, NASA, Goldman Sachs Group., and other government organizations are investing in R&D of this technology. In addition, the U.S. government is investing USD 200 million per year and also announced to increase its own patent and application portfolio over the past four years.
Acquisition and merger are the key factors that are adopted by the key players in the Aerospace and Defence Quantum Computing market. Some of the major companies into Aerospace and Defense Quantum Computing are International Business Machines Corporation (IBM), QX Branch, D-Wave Systems Inc., Cambridge Quantum Computing Limited, 1QB Information Technologies, QC Ware, Corporation, StationQ- Microsoft, Rigetti Computing, Google Inc., River Lane Research, and others.
Aerospace and Defence Quantum Computing Key Market Segments:
By Vehicle Type
- Quantum Processing Units (QPU)
- Dilution Refrigerator
- I/O Subsystem
- Consulting Services
- Training & Education
- Support & Maintenance
- Quantum Annealing (Adiabatic)
- Trapped Ion
- Quantum Dot
- Machine Learning/Deep Learning/AI
- Simulation & Data Modelling
- Cyber Security
- North America
- Asia pacific
- The Middle East and Africa
- Latin America