The Business Research Company’s report on the Aerospace & Defence Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the Aerospace & Defence market further?
During the forecast period, developed countries will experience low-interest rates as monetary authorities are reducing interest rates to stimulate economic growth and prevent deflation. This led to the flow of cheap money for investment in these economies. Low-interest rates encouraged borrowing for investment and helped drive spending. For instance, in September 2023, according to the Mortgage Reports, a US-based media company covering mortgage news, mortgage interest rates fell to historic lows in 2020 and 2021 during the Covid pandemic, with emergency actions by the Federal Reserve helping push mortgage rates below 3% and keeping them there. Low-interest rates will boost the growth of the Aerospace & Defence markets in the forecast period.
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What are the key factors influencing the forecasted market size of the Aerospace & Defence industry?
The Aerospace & Defence market size has grown strongly in recent years. It will grow from $820.67 billion in 2024 to $875.37 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to emerging markets growth, the increased demand for air travel, the increasing military expenditure, the increasing use of military drones, and the increasing development of autonomous fighter jets.
The Aerospace & Defence market size is expected to see strong growth in the next few years. It will grow to $1098.86 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to government support, rising urbanization, the increasing use of lightweight materials, the commercial use of drones, the increasing demand for military helicopters, and the increasing military modernization programs. Major trends in the forecast period include drone manufacturers adopting 3d printing technology, digital thread, and digital twin to improve performance, collaborations and acquisitions, cloud-based technology, design upgradations and modularity for military-style weapons, use of artificial intelligence (AI), day or night decamouflage technology for light weapons, aircraft health monitoring system (AHMS) to enhance maintenance and repair process efficiency, edge computing in defense, the adoption of unmanned combat vehicles, augmented and virtual reality, laser technology in Aerospace & Defence, robotics and UAVs to shorten maintenance time, companies investing in electricity run aircraft and focus on blockchain to shape aircraft manufacturing.
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Who are the leading competitors in the Aerospace & Defence market?
Major companies operating in the Aerospace & Defence market include Airbus Group SE, Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, Northrop Grumman Corp, General Dynamics, General Electric Company, Bae Systems plc, Safran SA, Thales, Hindustan Aeronautics Ltd, Team Indus, Rolls Royce India, Bharat Electronics Limited (BEL), Drone Aerospace Systems Pvt Ltd, Indian Rotorcraft, Mahindra Aerospace, Raj Hamsa Ultralights, Commercial Aircraft Corporation of China Ltd. (COMAC), Shanghai aircraft manufacturing factory, Aviation Industry Corporation of China, Superior Aviation Beijing Co., Honeywell International Inc., Bombardier Inc., Embraer, Cessna, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Uralvagonzavod, Textron Inc., Pilatus Aircraft Ltd, Leonardo SpA, Dassault Aviation SA, Piper Aircraft Inc, Honda Aircraft Company, Precision Castparts Corp, Spirit AeroSystems Inc, TransDigm Group Incorporated, Advanced Composites Solutions, AEL Sistemas, Airship do BrasilOneWeb, Telespazio, ARSAT, Cirrus Aircraft Corp., Israel Aerospace Industries, Iran Aircraft Manufacturing Industries, Saudi Arabian Military Industries (SAMI), Advanced Electronics Company, Abu Dhabi Ship Building (ADSB), DragonFly Aerospace, Armscor, Atlas Aircraft Corporation
Which emerging trends are set to transform the Aerospace & Defence market landscape?
8K video capture technology is being integrated with drones to enhance the picture and video quality captured by these aircraft. 8K technology offers greater horizontal display resolution and offers images that show more details than standard HD. 8K cameras integrated with drones offer higher precision and provide high-resolution footage in autonomous flights. For instance, Autel is offering its EVO series of drones with 8K cameras.
How do different geographies compare in terms of market share and growth potential in the Aerospace & Defence market?
North America was the largest region in aerospace & defense market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the Aerospace & Defence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which major segments of the Aerospace & Defence market are experiencing the fastest growth?
The Aerospace & Defence market covered in this report is segmented –
1) By Type: Aerospace, Defense
2) By Operation: Autonomous, Manual
3) By Component: Weapon System, Fire Control System, Command and Control System, Other Components
Subsegments:
1) By Aerospace: Commercial Aviation, Business Aviation, General Aviation, Space, Helicopters, Unmanned Aerial Vehicles (UAVs)
2) By Defense: Military Aircraft, Naval Defense, Land Defense, Missile Defense Systems, Cybersecurity, Military UAVs
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How is the Aerospace & Defence market defined?
Aerospace is the design and manufacture of aircraft, rockets, missiles, and spacecraft that operate in space. Defense equipment refers to weapons, arms, and equipment that are used for military purposes.
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