Global Defense Support and Auxiliary Equipment Market Comprehensive Study: Forecasted Market Size And Growth Rate | Raytheon Technologies Corporation, Thales Group, The Boeing Company, Leidos, Leonardo SpA, ManTech International Corp., L3 Technologies Inc

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Defense Support and Auxiliary Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The defense support and auxiliary equipment market size has grown strongly in recent years. It will grow from $154.35 billion in 2023 to $162.56 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to defense budgets, geopolitical tensions, maintenance and upgrades, global terrorism, peacekeeping missions.

The defense support and auxiliary equipment market size is expected to see steady growth in the next few years. It will grow to $196.56 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to emerging technologies, modernization programs, climate change and disaster response, global security challenges, international partnerships. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .

Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=2111&type=smp

Market Segmentation:
The main types of defense support and auxiliary equipment are military radars, military satellites, and other defense support, and auxiliary equipment. Military satellites are man-made satellites that are used for military purposes. Navigation, intelligence gathering, and military communications are the most prevalent missions. The different types of payloads include communication payloads, navigation payloads, imaging payloads, and others and are used in several applications such as intelligence, surveillance, and reconnaissance (ISR), communication, and navigation.

Major Driver - Rising Defense Spending Fuels Growth Of Defense Support And Auxiliary Equipment Market
Increasing defense spending is expected to propel the growth of the defense support and auxiliary equipment market going forward. Defense spending refers to the financial resources allocated by a government or state to support its armed forces and military activities. Defense spending provides the financial resources necessary for governments to invest in R&D programs related to defense support and auxiliary equipment. It also covers the maintenance, repair, and upgrades of existing defense support and auxiliary equipment. For instance, in December 2022, according to the annual Defense Data report 2020-21 published by the European Defence Agency (EDA), a Belgium-based government agency of the European Union, total European defense spending reached a record high of $225 billion (€214 billion) in 2021, up a further 6% from the previous year. Therefore, increasing defense spending is driving the growth of the defense support and auxiliary equipment market.

Competitive Landscape:
Major companies operating in the defense support and auxiliary equipment market include Raytheon Technologies Corporation, Thales Group, The Boeing Company, Leidos, Leonardo SpA, ManTech International Corp., L3 Technologies Inc., Rostec State Corporation, Bae Systems plc, RTX Corp, Lockheed Martin Corporation, General Dynamics Corporation, British Aerospace Engines Systems Plc, Northrop Grumman Corporation, Safran S.A, Honeywell International Inc., United Technologies Corporation, Elbit Systems Ltd., Rheinmetall AG, Harris Corporation, Cobham Ltd., Moog Inc., Meggitt Plc, Curtiss-Wright Corporation., Teledyne FLIR LLC, Ultra Electronics Holdings Plc, Esterline Technologies Corporation, Kongsberg Gruppen ASA, British Foreign & Colonial Automatic Light Controlling Company Ltd., QinetiQ Group Plc, Kratos Defense & Security Solutions Inc., AVAV - AeroVironment Inc., Textron Inc., Cubic Corp, Science Applications International Corporation.

Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/defense-support-and-auxiliary-equipment-global-market-report

Top Trend - Major Defense Firms Prioritize Domestically Built Submarines For Competitive Edge
Major companies operating in the defense support and auxiliary equipment market are focused on introducing domestically built submarines to gain a competitive edge in the market. A domestically built submarine is a submarine that is designed, developed, and constructed within the country's borders without relying on foreign technology or expertise. The submarine is a critical component of defense auxiliary equipment, and it is used to protect naval vessels and other assets from hostile attacks in the maritime domain. In September 2023, Taiwan, a country in East Asia, launched its first domestically built submarine, representing an important achievement in the replacement of an outdated naval capacity. The diesel-electric attack submarine, named Hai Kun after a legendary fish in Chinese folklore, was launched in the southern city of Kaohsiung at the CSBC (China Shipbuilding Corporation) Shipyard. The submarine is equipped with digital sonar systems, integrated combat systems, and auxiliary equipment systems, including periscopes.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Defense Support and Auxiliary Equipment Market Characteristics
3. Defense Support and Auxiliary Equipment Market Trends And Strategies
4. Defense Support and Auxiliary Equipment Market - Macro Economic Scenario
5. Defense Support and Auxiliary Equipment Market Size And Growth
…..
27. Defense Support and Auxiliary Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

This release was published on openPR.