Categories: Aerospace & Defence

Defense Support and Auxiliary Equipment Market 2023 – Market Brief Analysis, Market Size, Top Leading Companies, Segmentation | Raytheon Technologies Corporation, Thales Group, The Boeing Company, Leidos, Leonardo SpA

The Defense Support and Auxiliary Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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As per The Business Research Company’s insightful analysis in the Defense Support and Auxiliary Equipment Global Market Report 2024, the robust trajectory of the defense support and auxiliary equipment market is noteworthy. Evidently, it has surged from $154.35 billion in 2023 to a projected $162.56 billion in 2024, showcasing a commendable Compound Annual Growth Rate (CAGR) of 5.3%. This upward trend is rooted in historical factors such as defense budgets, geopolitical tensions, maintenance and upgrades, global terrorism, and peacekeeping missions.

Anticipating a continued ascent, the market is poised to reach $196.56 billion by 2028, boasting a CAGR of 4.9%. The forthcoming growth can be ascribed to dynamic elements including emerging technologies, modernization programs, climate change and disaster response, global security challenges, and international partnerships. In the forecast period, pivotal trends encompass electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, as well as collaboration and partnerships. This evolution underscores the industry’s adaptability to contemporary demands and underscores its pivotal role in the global security landscape.

The augmentation of defense expenditure is poised to act as a catalyst for the burgeoning expansion of the defense support and auxiliary equipment market in the foreseeable future. Defense spending, a pivotal financial allocation by governments or states, is indispensable for bolstering their armed forces and facilitating military endeavors. This financial commitment serves as the lifeblood for governments, enabling investments in cutting-edge research and development initiatives pertaining to defense support and auxiliary equipment. Moreover, it encompasses the vital aspects of maintenance, repair, and enhancements of pre-existing defense support and auxiliary equipment infrastructure. Illustratively, in December 2022, as delineated in the comprehensive Defense Data report 2020–21 by the European Defence Agency (EDA), a prominent government agency within the European Union situated in Belgium, the cumulative European defense spending surged to an unprecedented $225 billion (€214 billion) in 2021—a remarkable uptick of 6% from the preceding year. Evidently, this surge in defense spending substantiates its pivotal role in propelling the robust growth trajectory of the defense support and auxiliary equipment market.

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The defense support and auxiliary equipment market covered in this report is segmented –

1) Defense Support and Auxiliary Equipment Market By Type: Military Radars; Military Satellites; Other Defense Support and Auxiliary Equipment
2) Defense Support and Auxiliary Equipment Market By Payload Type: Communication Payload; Navigation Payload; Imaging Payload; Others
3) Defense Support and Auxiliary Equipment Market By Application: Intelligence, Surveillance, and Reconnaissance (Isr); Communication; Navigation

Subsegments Covered: Continuous Waveform; Pulse Waveform; Large Satellite; Mini Satellite; Micro Satellite; Nano Satellite

Top Major Players

Raytheon Technologies Corporation

The defense support and auxiliary equipment market report table of contents includes:

1. Executive Summary

2. Defense Support and Auxiliary Equipment Market Characteristics

3. Defense Support and Auxiliary Equipment Product/Service Analysis -Product/Service Examples

4. Defense Support and Auxiliary Equipment Market Trends And Strategies