The Business Research Company’s Defense Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Defense Global Market Report 2023 evaluates defense market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global defense market is expected to grow from $687.84 billion in 2026 at a rate of 7.7%. The defense market size is then expected to grow at a CAGR of 4.0% from 2026 and reach $838.03 billion in 2031.
Government initiatives have been the major driver in the forecast period. For instance, in February 2022, the Canadian federal government officially launched a competition for the purchase of armed drones after nearly two decades of delays and discussion around whether Canada should buy the controversial weapons. Two companies were shortlisted to bid on the $5-billion contract, which could see the Canadian Armed Forces launch a fleet of unmanned aerial vehicles in the next few years.
Also, in July 2021, the Defence Research and Development Organisation (DRDO), an India-based Government agency launched a “high strength metastable beta titanium alloy” for military aerospace. The alloy has been developed by the Hyderabad-based Defence Metallurgical Research Laboratory (DMRL), one of the DRDO’s premier laboratories that carry out fundamental research in the field of materials science and technology.
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The defense market segments in the report are:
1) By Type: Air-Based Defense Equipment, Sea-Based Defense Equipment, Land-Based Defense Equipment, Defense Equipment Maintenance, Repair And Overhauling Services, Defense Support And Auxiliary Equipment
a) By Air-Based Defense Equipment: Fighter Aircrafts, Military Helicopters, Military Gliders And Drones
b) By Sea-Based Defense Equipment: Battle Force Ships (Aircraft Carriers, Frigates, Destroyers, Corvettes, Torpedo Boats, Support Crafts), Submarines (Including Nuclear Submarines)
c) By Land-Based Defense Equipment: Armored Vehicles, Missiles, Tanks, Small Arms And Light Weapons
d) By Defense Equipment Maintenance, Repair And Overhauling Services: Air-Based Defense Equipment MRO Services, Water Based Defense Equipment MRO Services, Land-Based Defense Equipment MRO Services
e) By Defense Support And Auxiliary Equipment: Military Radars, Military Satellites, Other Defense Support And Auxiliary Equipment
2) By Operation: Autonomous Defense Equipment, Manual
3) By Platform: Airborne, Land, Naval
The table of contents in TBRC’s defense market report includes:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
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24. Key Mergers And Acquisitions
25. Market Background: Aerospace & Defense Market
26. Market Opportunities And Strategies
27. Defense Market, Conclusions And Recommendations
28. Appendix
Top Major Players:
Lockheed Martin Corporation
Raytheon Technologies Corporation
Northrop Grumman Corp
General Dynamics
The Boeing Company
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