Defense Electronics Market: $254 Billion Projection with 5.7% Annual Growth From 2023-2032

According to a new report published by Allied Market Research, titled, "Defense Electronics Market, by Vertical (Communication and Display, Navigation, C4ISR, Electronic Warfare, Radar and Optronics) and Platform (Airborne, Marine, Land and Space)Global Opportunity Analysis and Industry Forecast, 2023-2032". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The market size of defense electronics was valued at $150.20 billion in 2022, and is estimated to garner $254 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032.

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Technological developments, environmental concerns, and changing consumer needs foster transformative trends in the global defense electronics industry. The constant quest for improved effectiveness and performance is one such trend. To maximize fuel efficiency and increase thrust-to-weight ratios, manufacturers are investing in materials such as lightweight composites and sophisticated aerodynamics, which is expected to lead to the creation of turbojet engines that are more potent and efficient.

Eco-friendly solutions are developed as a result of the crucial focus on environmental sustainability. Sustainable aviation fuels (SAFs) are among the alternative fuels that turbojet engines are converting to lessen their environmental impact. Concerned about lowering carbon emissions, the aviation sector is also exploring electric and hybrid-electric power systems more, particularly for smaller aircraft. The defense electronics industry. Semiconductors were given special attention under China's Made in China 2025 industrial agenda. China wants to become the world leader in semiconductor manufacturing. The consequences of utilizing a fake chip in consumer and military products can range from strange system behavior to death. An enormous quantity of fake electronics and semiconductor components are sold on the international market each year.

The market is segmented into vertical, platform, and region. On the basis of vertical, the market is divided into communication and display, navigation, C4ISR, electronic warfare, radar and optronics. On the basis of platform, the market is classified into airborne, marine, land, and space. Region wise, the defense electronics market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

By vertical, the optronics segment held the highest market share in 2022, accounting for more than one-third of the global defense electronics market revenue and is estimated to maintain its leadership status throughout the forecast period.

The optronics segment's share is expected to be boosted by the increase in demand for accurate and durable hardware and software for unmanned platforms. The rise in efforts to develop indigenous optronics by developing nations in Asia Pacific region to support the segment demand.

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The airborne segment to maintain its leadership status throughout the forecast period

By platform, the airborne segment held the highest market share in 2022, accounting for nearly half of the global defense electronics market and is estimated to maintain its leadership status throughout the forecast period. However, the same segment is projected to manifest the highest CAGR of 6.29% from 2023 to 2032, the integration of artificial intelligence (AI) technologies to enhance autonomous capabilities, enable intelligent decision-making, improve target recognition and tracking, and enhance situational awareness in complex environments is contributing to the market growth.

Asia-Pacific to maintain its dominance by 2032

By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global defense electronics market revenue and is likely to dominate the market during the forecast period. The booming defense industries in the Asia-Pacific region have fuelled the demand for defense electronics. Asia-Pacific is expected to witness highest growth in forecast period owing to increase in aviation demand in the emerging markets of India and China. However, the same region is expected to witness the fastest CAGR of 6.91% from 2023 to 2032.

Leading Market Players: -

Lockhead Martin Corporation
North Grumman Corporation
Raytheon Technologies Corporation
Thales Group
BAE Systems
Aselsan AS
Curtis Wright Corporation
L3 Harris Technologies
Boeing
Teledyne Defense Electronics

The report provides a detailed analysis of these key players in the global defense electronics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders:

➢ This study comprises analytical depiction of the global defense electronics market size along with the current trends and future estimations to depict the imminent investment pockets.
➢ The overall global market analysis is determined to understand the profitable trends to gain a stronger foothold.
➢ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➢ The current global market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
➢ Porters five forces analysis illustrates the potency of the buyers and suppliers in the market.
➢ The report includes the market share of key vendors and the global defense electronics.

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Reasons to Buy This Defense Electronics Market Report:

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