Vertical: AnDBase Year: 2018
Market Size (2018)
$47.22B
Projected (2024)
$198.82B
CAGR (2017–2024)
27.1%
Key Players
10+
The global aerospace & defense quantum computing market is growing at a significant rate with increasing investments by the governments across the globe in the defense sector. The global market is expected to register a CAGR of 27.05% during the forecast period, 2019–2024. In 2018, the global market was led by North America with a 29.82% share, followed by Europe and Asia-Pacific with shares of 26.00% and 22.14%, respectively.
The Aerospace and Defense Quantum Computing Market market is projected to grow at a CAGR of 27.1% from 2017 to 2024.
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View Subscription PlansQuantum computing is a breakthrough technology that is expected to enhance the existing computing technology and enable its use in various applications such as artificial intelligence and machine learning. The aerospace & defense industry is expected to adopt quantum computing on a large scale owing to its enhanced security and applications such as quantum key distribution (QKD), quantum cryptanalysis, and quantum sensing. Technological advancements in quantum computing hardware and software are expected to increase the adoption of the technology in the aerospace & defense industry during the forecast period.
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View Subscription Plans3.1 Research Process
Wantstats analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, as well as the emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and the current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based on primary and secondary research.
3.2 Primary Research
Extensive primary research was conducted to gain a deeper insight into the market and industry performance. For this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five to 10 years.
3.3 Secondary Research
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global aerospace & defense quantum computing market. It was also used to obtain key information about major players, market classification and segmentation according to industry trends, and developments related to the market and technology. For this study, analysts have gathered information from various credible sources such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organizations, and paid databases.
3.4 Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of the overall global aerospace & defense quantum computing market. The key players in the market were identified through secondary research, and their market contributions in different applications across the globe were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Wantstats added before being presented in this report. The following figure shows an illustrative representation of the overall market size estimation process employed for the purpose of this study.
Base Year
2018
Historical Period
2017 – 2017
Forecast Period
2019 – 2024
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2024)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global aerospace and defense quantum computing market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, frequent changes in government policies, and environmental regulations are key factors that impact market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is crucial for vendors to provide cost-efficient and more advanced quantum computing solutions to sustain in an intensely competitive market environment.
10.5 Leading Player in terms of Number of Developments in Global Aerospace and defense quantum computing Market
10.6 Key Developments & Growth Strategies New Product Launch/Development Joint Venture/ Partnership
Threat of New Entrants
The manufacturing of quantum computers is a capital-intensive process. An in-depth knowledge of quantum mechanics used to design quantum computing processors is required as well as high technical expertise is required to set up the facilities. Moreover, the cost of infrastructure needed to design, develop, and manufacture quantum computing hardware and software is high. These factors are expected to act as a barrier in the entry of new entrants. Bargaining Power of Suppliers
The suppliers for quantum computers include component providers, which offer silicon wafers, ceramic capacitors, inductors, filters, and plastic-injected molded trays. As many players manufacture components, the number of suppliers in the global market is high. The switching cost of suppliers for quantum component manufacturers is low due to the large presence of suppliers as well as the availability of substitutes of raw materials. Thus, due to the low switching cost, availability of substitutes, and presence of a large number of suppliers, the bargaining power of suppliers is expected to be low during the forecast period. Bargaining Power of Buyers
The end users of the global market are aircraft manufacturers and defense agencies, which mark moderate presence due to the high cost associated with quantum computers. Also, high technical expertise is required to develop quantum computers due to the presence of quantum mechanisms such as superposition and entanglement, which are different from the binary language. Besides, the switching cost of buyers is high. For instance, if an enterprise wants to switch from the existing quantum computing service provider, they are required to purchase the cloud-based quantum computing platform according to the new provider, which incurs a high cost. Thus, the bargaining power of buyers is expected to be moderate in the global quantum computing market during the forecast period. Threat of Substitutes
The number of substitutes available for quantum computing is less as very few companies manufacture and design quantum computing processors. The product differentiation is moderate as the players design and test quantum computing for numerous industrial applications, namely aerospace, automotive, financial services, life science, and healthcare. The brand loyalty is high since the quantum computing providers partner with end users to offer supercomputing capabilities. The cost of switching to the substitute product is high as switching from the existing quantum computing provider to the substitute requires a high cost and re-structuring of infrastructure. Hence, the threat of substitute is expected to be moderate in the global market. Rivalry
The global market is expected to witness high competition during the review period. The key players are investing extensively in the development of quantum computers to offer various supercomputing options to their clients to stay competitive in the global market. Besides, customer loyalty is also high since the end users prefer for a long-term partnership with quantum computing providers due to the high cost of switching. Also, exiting the market is a challenge due to the involvement of high investment and infrastructure costs by the service providers and end users.
Market estimates by geography (2024)
InsightNorth America leads with $58.80B by 2024, while Asia Pacific is projected to grow fastest at a 29.3% CAGR.
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View Subscription Plans| REGION | 2017 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $5.21B | $12.99B | $25.66B | 25.6% | 13% |
| North America | $11.07B | $28.82B | $58.80B | 26.9% | 30% |
| Asia Pacific | $8.22B | $23.05B | $49.69B | 29.3% | 25% |
| Europe | $9.65B | $24.92B | $50.55B | 26.7% | 25% |
| South America | $2.97B | $7.27B | $14.12B | 24.9% | 7% |
| Total | $37.12B | $97.04B | $198.82B | 27.1% | 100% |
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Analytical insights on Aerospace and Defense Quantum Computing Market covering market dynamics, competitive landscape, and strategic outlook.
The Aerospace and Defense Quantum Computing Market market is projected to reach $198.82B by 2024, growing at 27.1% CAGR.
The global aerospace & defense quantum computing market is expected to grow significantly in the coming years owing to the rising government investments. However, complexities in implementation and operation are expected to hamper the growth of the market during the forecast period. Furthermore, the need for highly skilled employees is expected to present a challenge to players in the global aerospace & defense quantum computing market.
The benefits of quantum computing technology have sparked interest from the governments of multiple countries. The US and Chinese governments are currently leading the research and development of quantum computing. In 2018, China announced plans to invest USD 10 billion in a new quantum laboratory in Heifei with an aim to surpass the US. The country also launched a satellite using quantum communication protocols for secure communications between scientists in Austria and China. The UK has outlined an investment plan of USD 400 million over five years for the development of the Quantum Hub Network. The European Union is following a similar plan by investing USD 1.3 billion over 10 years in the EU Flagship Quantum Program. The Netherlands has announced a plan to invest USD 150 million over 10 years in QuTech, a quantum technology institute dedicated to developing the building blocks of quantum computers. The US government is currently spending USD 200 million annually for the development of quantum computing technology, carried out by different organizations including the National Security Agency and the armed forces. Therefore, increasing investments by the government of different countries in quantum computing is expected to drive the growth of the market during the forecast period.
Quantum computers are based on the principle of superposition which allows them to achieve the high computational power necessary for advanced applications such as cryptography, drug discovery, and machine learning. Presently, cryptography is based on public key algorithms such as AES-256, RSA, and ECDSA. These algorithms are secure for current computing but are expected to be rendered useless as quantum computing advances. Quantum computing application developers have started testing encryption algorithms with quantum keys which will offer secure encryption for the protection of data against the computational power of systems of the future. Quantum cryptography is expected to transform the way we carry out transactions and data communications in the near future.
Moreover, quantum computing can be used for cryptanalysis for decrypting encoded messages of enemy forces. Some countries have already begun to collect encrypted foreign communications with the expectation that they will be able to extract valuable secrets from that data in the future. Therefore, the widening application scope of quantum computing in defense is expected to offer lucrative opportunities to market players during the review period.
Quantum computing is still in the early stages of development. The computing power that it promises to provide is currently unrealized. Moreover, there are major drawbacks in the current quantum computing systems which makes implementation difficult.
The quantum processors developed today require temperatures of (-273°C) for functioning, which is very close to absolute zero. This temperature is difficult to maintain and control, which makes quantum computers unsuitable for personal use. There is also a lack of a system to validate the answers that quantum processors produce. Moreover, the coding process for the development of quantum computing applications is very complex, which has slowed down the process of application development for quantum computing systems. Such technological complexities have resulted in a reluctance by organizations in adopting the technology. The leading developers of quantum computing solutions are yet to implement concrete foolproof solutions for practical problems.
Furthermore, the computational power that current classical computing systems offer is able to satisfy the needs of most organizations. Thus, the technological complexities and low adoption of quantum computing technology are expected to restrain market growth to a certain extent.
Quantum computing is still a nascent technology. The development of quantum computing requires extensive knowledge of quantum mechanics, computer science, and superpositioning, among others. Quantum computing hardware development is a highly complex process as quantum processors require absolute zero temperatures. There are a limited number of skilled researchers and developers across the globe for the development of quantum computing hardware. Moreover, quantum computing applications require complex coding, which is yet to be adopted completely by the programming community worldwide. The lack of skilled employees required for the development of quantum computing is a major challenge for market players. The key players in the global quantum computing market have started offering educational services and programs for accelerating quantum computing development. Moreover, companies such as Cambridge Quantum Computing Ltd have undertaken initiatives for increasing awareness and encouraging developers to create quantum computing applications using the company’s platform. Rigetti & Co, Inc. has established the Quantum Advantage Prize which offers USD 1 million for the first conclusive demonstration of quantum advantage on the company’s quantum cloud platform QCS.
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Profiles of 106 companies operating in the Aerospace and Defense Quantum Computing Market market, including revenue, employee count, and market positioning where available.
Showing 106 of 106 companies
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Company Headquarters: US Founded: 1998 Workforce: ~118,899 Company Working: Google LLC. (Google) is a multinational enterprise initially incorporated as a privately held company. Later in 2004, the company announced its first public offering. It is known to build technology products and provide services to organize information. The company offers managed services in work and productivity, scheduling and time management, instant messaging and video chats, language translation, mapping, video sharing, note-taking, and photo organizing and editing through various applications. Google offers google search, google now, AdWords, Adsense, double click ad exchange, adexchange, and AdMob. AdMob is a mobile advertising network that enables app developers to monetize and promote their mobile and tablet apps using ads. Google has approximately 16 data centers across the globe. The company operates in Europe, the Middle East & Africa, Asia-Pacific, and the Americas. The company's expertise lies in search engines, ads, mobile, android, online video, apps, machine learning, and virtual reality. Furthermore, the company offers google assistant, a worldwide popular voice assistant platform, which is now available in more than 90 countries, the google assistant now helps more than 500 million people every month to get things done across smart speakers & smart Displays, TVs, phones, cars and more.
Company Headquarters: US Founded: 1911 Workforce: ~2,82,100 Company Working: IBM Corporation is a global provider of integrated business solutions and services. Its Cloud & Cognitive Software division provides software for vertical and domain-specific solutions in a variety of application areas, as well as customer information control system and storage, analytics, and integration software solutions to support client mission on-premises workloads in the banking, airline, and retail industries. It also provides middleware and data platform software, such as Red Hat, which allows clients to run hybrid multi-cloud environments; cloud paks, WebSphere distributed, and analytics platform software, such as DB2 distributed, information integration, and enterprise content management; and IoT, blockchain, and AI/Watson platforms. Business consulting services, packaged software system integration, application management, maintenance, and support services, and finance, procurement, talent and engagement, and industry-specific business process outsourcing services are all available through the company's global business services segment. IT infrastructure and platform services are provided by the company's global technology services business, as well as project, managed, outsourcing, and cloud-delivered services for enterprise IT infrastructure environments and IT infrastructure support services. The cognitive solutions segment offers a cognitive computing platform called Watson, which interacts in natural language, processes big data, and learns from interactions with people and computers. This segment also provides data and analytics solutions, data management platforms, cloud data services, enterprise social software, and transaction processing software that run mission-critical systems in the banking, airline, and retail industries. IBM provides speech recognition products using computer hardware and software-based techniques to identify and process the human voice and convert the spoken words into computer text. Furthermore, the company is also investing heavily in designing and developing automatic speech recognition technology-based products, which are capable of authenticating users via their voice and performing an action based on the instructions defined by the human.
Company Headquarters: Burnaby, Canada Founded: 1999 Workforce: ~160 Company Working: D-Wave Systems Inc. develops and delivers quantum computing systems and software. It develops quantum computing systems for multiple world-class organizations and institutions, such as Lockheed Martin Corporation, Google, NASA (National Aeronautics and Space Administration), University of Southern California, Universities Space Research Association, Los Alamos National Laboratory, Oak Ridge National Laboratory, and Volkswagen. It owns over 160 US patents and has published over 100 peer-reviewed papers in leading scientific journals. It provides its quantum computing product—D-Wave 2000Q system—through sale and lease as a stand-alone system and also through its quantum cloud. Along with quantum computing systems, It also provides quantum-inspired machine learning services, application development services, and custom fabrication of superconducting circuits. It provides systems for a wide range of industries, including defense, national labs, finance, healthcare, universities, and energy. D-Wave Systems Inc. has its offices in Vancouver, British Columbia; Palo Alto, California; and Hanover, Maryland.
Company Headquarters: Vancouver, British Columbia, Canada Founded: 2012 Workforce: ~100 Company Working: 1QB Information Technologies Inc. (1QB), operates as a subsidiary of Accenture PLC. It offers 1QBit quantum-ready software solutions and consulting services for finance, life sciences, energy, and other industries. It develops classical and quantum algorithms with practical applications for intractable problems. It creates applications which address industry problems using artificial intelligence (AI) with quantum computers. It also provides new methods for machine learning, sampling, and optimization based on reformulating problems to meet the unique requirements of interfacing with quantum computers.
Cambridge Quantum Computing Limited is engaged in developing tools for the commercialization of quantum computers. It is involved in the development of algorithms and source codes with a focus on financial services, cryptography, and medicine and biotechnology. It specializes in quantum computing, quantum information processing, artificial intelligence, machine learning, quantum cryptography, pattern recognition, quantum operating system, quantum chemistry, and quantum random number generation.
6 interactive charts drawn from the Aerospace and Defense Quantum Computing Market dataset — market size, regional splits and each segment breakdown. Open one to read its full data table and download it.
Global Aerospace and Defense Quantum Computing Market Brazil and Rest Of South America
Global Aerospace and Defense Quantum Computing Market Germany, France, United Kingdom, Russian Federation and Rest Of Europe By Country
Global Aerospace and Defense Quantum Computing Market China, India, Japan and Rest Of Asia Pacific By Country
Global Aerospace and Defense Quantum Computing Market United States and Canada Of North America By Country
Global Aerospace and Defense Quantum Computing Market Rest Of Middle East And Africa, Saudi Arabia and UAE Of Middle East And Africa
Global Aerospace and Defense Quantum Computing Market By Region
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
