Aerospace And Defense Market Size Forecasted To Achieve $1098.86 Billion By 2029 With Steady Growth

The Aerospace And Defense Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Aerospace And Defense Market Size and Projected Growth Rate?
The market size for aerospace and defense has significantly expanded in the past few years. The sector is set to escalate from $820.67 billion in 2024 to $875.37 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. The growth observed in the historical period is due to factors such as the expansion of emerging markets, an upsurge in air travel demand, rising military spending, escalated usage of military drones, and the intensified development of autonomous fighter jets.

The aerospace and defense industry's market size seems to gear up for potential expansion in the approaching years. The industry is predicted to touch $1098.86 billion in 2029, escalating at a compound annual growth rate (CAGR) of 5.8%. Understandably, this anticipated growth can be traced back to government backing, mushrooming urbanization, the use of lightweight materials, commercial drone utilization, the booming demand for military helicopters, and the amplification of military modernization undertakings. Several noteworthy trends can be observed during this forecast period, including drone makers embracing 3d printing technology, the digital thread, and digital twin to elevate performance, strategic alliances and acquisitions, the incorporation of cloud technology, design advancements and modularity for military-grade weaponry, employing artificial intelligence (AI), the use of decamouflage tech for light weaponry regardless of the time of day, an aircraft health monitoring system (AHMS) for improved maintenance and repair procedures, edge computing in the defense sector, the employment of unmanned combat vehicles, augmented and virtual reality inclusions, the use of lasers in aerospace and defense, robotics and UAVs to reduce servicing time, companies investing in electricity-powered aircraft, and a focus on blockchain for streamlining aircraft production.

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What Are the Major Segments in the Aerospace And Defense Market?
The aerospace and defense market covered in this report is segmented -

1) By Type: Aerospace, Defense
2) By Operation: Autonomous, Manual
3) By Component: Weapon System, Fire Control System, Command and Control System, Other Components

Subsegments:
1) By Aerospace: Commercial Aviation, Business Aviation, General Aviation, Space, Helicopters, Unmanned Aerial Vehicles (UAVs)
2) By Defense: Military Aircraft, Naval Defense, Land Defense, Missile Defense Systems, Cybersecurity, Military UAVs

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What Are The Driving Aerospace And Defense Market Evolution?
Throughout the predictive timeline, industrialized nations are expected to face reduced interest rates due to the intervention of monetary institutions seeking to promote economic expansion and ward off deflation. This resulted in a surge of affordable capital for investment in these national economies. Lower interest rates were a motivator for loaning investment funds and fueled expenditure. For example, the Mortgage Reports, an American media company that focuses on mortgage news, stated in September 2023 that mortgage interest rates dipped to unprecedented lows in 2020 and 2021 amidst the Covid crisis, influenced by the Federal Reserve's urgent measures, driving mortgage rates below 3% and sustaining that level. The dip in interest rates is set to spur the growth of the aerospace and defense markets throughout the forecast period.

Which Firms Dominate The Aerospace And Defense Market Segments?
Major companies operating in the aerospace and defense market include Airbus Group SE, Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, Northrop Grumman Corp, General Dynamics, General Electric Company, Bae Systems plc, Safran SA, Thales, Hindustan Aeronautics Ltd, Team Indus, Rolls Royce India, Bharat Electronics Limited (BEL), Drone Aerospace Systems Pvt Ltd, Indian Rotorcraft, Mahindra Aerospace, Raj Hamsa Ultralights, Commercial Aircraft Corporation of China Ltd. (COMAC), Shanghai aircraft manufacturing factory, Aviation Industry Corporation of China, Superior Aviation Beijing Co., Honeywell International Inc., Bombardier Inc., Embraer, Cessna, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Uralvagonzavod, Textron Inc., Pilatus Aircraft Ltd, Leonardo SpA, Dassault Aviation SA, Piper Aircraft Inc, Honda Aircraft Company, Precision Castparts Corp, Spirit AeroSystems Inc, TransDigm Group Incorporated, Advanced Composites Solutions, AEL Sistemas, Airship do BrasilOneWeb, Telespazio, ARSAT, Cirrus Aircraft Corp., Israel Aerospace Industries, Iran Aircraft Manufacturing Industries, Saudi Arabian Military Industries (SAMI), Advanced Electronics Company, Abu Dhabi Ship Building (ADSB), DragonFly Aerospace, Armscor, Atlas Aircraft Corporation

What Trends Are Expected to Dominate the Aerospace And Defense Market in the Next 5 Years?
Drones are incorporating 8K video capture technology to improve the quality of photos and videos they capture. The 8K technology surpasses standard HD by providing a higher horizontal display resolution, revealing more detailed images. Drones equipped with 8K cameras yield more precise, high-resolution footage during autonomous flights. For example, Autel features its EVO series of drones equipped with 8K cameras.

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Which Is The Largest Region In The Aerospace And Defense Market?
North America was the largest region in aerospace & defense market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the aerospace and defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Aerospace And Defense Market?
2. What is the CAGR expected in the Aerospace And Defense Market?
3. What Are the Key Innovations Transforming the Aerospace And Defense Industry?
4. Which Region Is Leading the Aerospace And Defense Market?

Why This Report Matters:

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