Press release
Defense Industry Outlook And Forecast 2020-2030: Covid 19 Impact And Recovery
The global defense market is expected to decline from $428 billion in 2019 to $372 billion in 2020 at a compound annual growth rate (CAGR) of -13.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 4% from 2021 and reach $411.6 billion in 2023.
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The defense market consists of sales of air-based, sea-based and land-based military equipment by entities (organizations, sole traders and partnerships) that produce air-based, sea-based and land-based military equipment including support and auxiliary equipment such as radar, satellites, sonars and other auxiliary equipment or maintain, repair and overhaul defense equipment.
Smart gun technology is gaining the interests of the manufacturer in the recent times. The technology will reduce accidental and criminal shootings due to its safety features that allows firing by authorized users only. A gun is implanted with a radio-frequency-identification devices (RFID) chip reader that connects wirelessly with a watch or wristband, when in a definite range, to activate it.
Defense Market Segmentation: -
By Type
1. Air based Defense Equipment Manufacturing
2. Sea based Defense Equipment Manufacturing
3. Land based Defense Equipment Manufacturing
4. Defense Equipment Maintenance, Repair and Overhauling Services
5. Defense Support and Auxiliary Equipment Manufacturing
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Defense Market Characteristics
4. Defense Market Product Analysis
5. Defense Market Supply Chain
......
20. Defense Market Competitive Landscape
21. Key Mergers And Acquisitions In The Defense Market
22. Market Background: Aerospace & Defense Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
The report covers the trends and market dynamics of the defense market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the defense market are Lockheed Martin; Raytheon Company; BAE Systems; Northrop Grumman; Boeing
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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