The Business Research Company’s Aerospace And 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 Aerospace And Defense Global Market Report 2023 evaluates aerospace and 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 aerospace and defense market is expected to grow from $1,139.41 billion in 2027 at a rate of 7.1%. The market is then expected to grow at a CAGR of 5.2% from 2027 and reach $1,467.80 billion in 2032.
Government support is expected to drive the growth of the aerospace and defense market going forward. The governments of various countries are supporting the aerospace and defense sector to manufacture new solutions to better serve the industry. For example, in June 2022, the Canada government announced to invest CAD4.9 billion ($3.8 billion) over the next six years to modernize North America’s aging defensive systems. The funding is the first of an estimated CAD40 billion ($31 billion) that will be spent over the next 20 years to upgrade the joint US-Canadian early warning system, known as North American Aerospace Defense Command, and to purchase other military assets to protect the continent. Further, in March 2023, the state arms procurement agency of South Korea announced its plan to purchase more F-35A stealth fighter jets and other weapons systems to bolster the country’s deterrence capabilities against North Korea. Defense Acquisition Program Administration (DAPA) stated that the latest F-35A acquisition project is expected to cost 3.75 trillion won ($2.8 billion) and be complete by 2028. Therefore, the government support for the defense industry will support the growth of the overall aerospace and defense market.
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The aerospace and defense market segments in the report are:
1) By Type: Aerospace; Defense
- a) By Aerospace: Commercial Aircraft; Aircraft Maintenance; Repair And Overhauling Services; Aerospace Support And Auxiliary Equipment
- b) By Defense: Air Based Defense Equipment; Sea Based Defense Equipment; Land Based Defense Equipment; Defense Equipment Maintenance, Repair And Overhauling Services; Defense Support And Auxiliary Equipment
2) By Operation: Autonomous; Manual
3) By Component: Weapon System; Fire Control System; Command And Control System; Other Components
The table of contents in TBRC’s aerospace and defense market report includes:
- Executive Summary
- Table of Contents
- List of Figures
- List of Tables
- Report Structure
- Introduction And Market Characteristics
- Product/Service Analysis – Product/Service Examples
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- Company Profiles
- Key Mergers And Acquisitions
- Opportunities And Strategies
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