Defense Market Size, Share, Growth, Trends, Development, Revenue And Forecast To 2031

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The global defense market report by the business research company identifies adoption of unmanned combat vehicles globally to be a major growth driver for the defense market. An unmanned combat vehicle is a machine or motorised vehicle that runs without any physical human intervention. These vehicles have a set of sensors for 360-degree situational awareness and for optical avoidance, steering actuators, brakes, and laser scanners, along with other autonomous features enabling remote or autonomous functioning of the vehicle. It is mostly used to inspect the surroundings and transfer the information to the operator through teleoperation or make autonomous decisions to deal with situations involving several technical challenges. For instance, in January 2020, the U.S. Army awarded contracts for the development of robotic combat vehicles (RCV-M). It is an unmanned robotic teleoperation combat vehicle with an onboard 20-to 50-millimeter automatic cannon. It can fight alongside infantry and destroy enemy armoured personnel carriers, trucks, and troops.

The global defense market grew from $474.69 billion in 2021 to $513.57 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The defense market is expected to grow to $581.84 billion in 2026 at a CAGR of 3.2%.

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Asia Pacific was the largest region in the defense market in 2021. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Major players in the defense market include Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, Raytheon Co, Northrop Grumman Corp, Bae Systems plc, Airbus Group SE, Leonardo SpA, Thales group, and General Dynamics.

The global organic food market is segmented -
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
2) By Operation: Autonomous Defense Equipment, Manual
3) By Platform: Airborne, Land, Naval

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The Defense Market Report Contents Include
1. Executive Summary
2. Report Structure
3. Defense Market Characteristics
4. Defense Market Product Analysis
5. Defense Market Supply Chain
....
24. Recommendations
25. Appendix
26. Copyright And Disclaimer

This 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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