Aerospace Quantum Computing Market – Components, Types, Geography, Size, Share, Demand, Segments, Growth, Forecast till 2023

Aerospace Quantum Computing Market – Components, Types, Geography, Size, Share, Demand, Segments, Growth, Forecast till 2023

“Aerospace Quantum Computing Market”
The Report Focuses on Quantum Computing in Aerospace & Defense Market in Asia Pacific Market, especially in China, Japan, Korea, Taiwan, Southeast Asia, India, Australia. The report categorizes the market based on Manufacturers Countries/Region, Types and Application.

The global quantum computing in aerospace and defense market is expected to exhibit a strong 24% CAGR over the forecast period from 2018 to 2024, according to the latest research report from Market Research Future (MRFR). The global quantum computing in aerospace and defense market is mainly driven by the growing demand for advancement in military technology, including detection tech, manufacturing automation tech, and aircraft operation tech.

Quantum computing is a new form of computing that utilizes the space between the conventional “1 and 0” of computing to magnify the computing power of the system enormously. Due to the use of the multiple states between 1 and 0, quantum computing has become a major attraction for several areas that are in dire need of higher computing power to solve complicated, longstanding problems.

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The increasing use of artificial intelligence in various areas of the military is likely to drive the demand from the quantum computing in aerospace and defense market over the forecast period. The use of quantum computing can be beneficial for the aerospace and defense sector in various ways, such as providing a significant upgrade in the computing power of aircraft operation technology, allowing more complicated systems to be installed into aircraft with more ease. The use of quantum computing can also revolutionize the field of RADAR detection, as the higher computing power provided by quantum computing can enable easy spotting of steal aircraft and submarines. Similarly, the demand for quantum computing is also likely to grow for the purpose of increasing the stealth tech in aircraft.

Aircraft design is likely to be the major application area for quantum computing in the aerospace and defense market. The use of quantum computing can simplify aircraft design problems and help create futuristic aircraft housing AI-powered tools and mechanisms. The increasing government support to creating just such devices is likely to be the major driver for the global quantum computing in aerospace and defense market over the forecast period.

Competitive Analysis:

Leading players in the global quantum computing in aerospace and defense market include Rigetti Computing, Station Q (Microsoft), Magiq Technologies Inc., QC Ware Corp., 1qb Information Technologies Inc., Cambridge Quantum Computing Ltd., IBM Corporation, Qxbranch LLC, and D-Wave Systems Inc.

In January 2019, Airbus issued a global challenge, inviting experts from around the world to contribute to solving issues in real-time industrial activities, including in the aerospace and defense sector.

In October 2018, Boeing launched a new organization, named Disruptive Computing and Networks, aimed at developing futuristic technological solutions for the aerospace sector. Quantum computing is likely to be a major focus for the organization in the coming years.

Segmentation:

The global quantum computing in aerospace and defense market is segmented on the basis of component, application, and region.

By component, the global quantum computing in aerospace and defense market is segmented into hardware, software, and services. The software segment is likely to dominate the global quantum computing in aerospace and defense market over the forecast period, exhibiting the largest growth rate.

By application, the global market is segmented into quantum key distribution, quantum cryptanalysis, and quantum sensing. Quantum key distribution, which is a key component of data security mechanisms, is likely to be the dominant segment of the global quantum computing in aerospace and defense market over the forecast period.

Regional Analysis:

North America is likely to dominate the global quantum computing in aerospace and defense market over the forecast period due to the steady technological development in the region in the fields of both quantum computing and aerospace technology. The strong position of the region as a global tech leader and pioneer is likely to enable smooth growth of the quantum computing in aerospace and defense market over the forecast period.

Asia Pacific is also likely to emerge as a major player in the global quantum computing in aerospace and defense market, exhibiting growth at the highest rate over the forecast period. The growing government support for the development of quantum computing technology for aerospace and defense applications in China is likely to be a major driver for the market in the region. Increasing government support for military modernization in countries such as India, China, and Australia is also likely to be a major driver for the quantum computing in aerospace and defense market in Asia Pacific over the forecast period.

Europe is likely to hold a significant share in the global quantum computing in aerospace and defense market over the forecast period due to the presence of leading aerospace industry players such as Airbus.

The Middle East, Africa, and Latin America are not likely to feature prominently in the global quantum computing in aerospace and defense market over the forecast period due to the lack of technological development in the quantum computing field.

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