Growing Adoption Of Unmanned Combat Vehicles: A Significant Driver Propelling The Defense Market In 2025

The 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 Defense Market Size and Projected Growth Rate?
The size of the defense market has seen a solid growth in the past few years. The growth will advance from $491.06 billion in 2024 to $527.06 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. The previous growth can be credited to the rise in the usage of military drones, growth in demand for assault and transport helicopters, plummeting interest rates, increased investment on military equipment, more development of autonomous fighter jets, and an upward trend in military spending.

Expectations of a robust growth in the defense market size are prominent in the coming years. The market is anticipated to expand to $676.64 billion by 2029, with a compound annual growth rate (CAGR) of 6.4%. Factors contributing to this projected growth in the forecast period include government initiatives, advancements in technology, escalating internal and external security threats, the development of increasingly advanced military helicopters, and enhanced efforts in military modernization. Key trends predicted for this period encompass the incorporation of unmanned combat vehicles, the inception of innovative military avionics upgrade programs, the utilization of augmented reality and virtual reality, edge computing in defense, the application of 3D printing technology, strategic mergers and acquisitions, the employment of artificial intelligence (AI) in defense equipment such as drones and helicopters, design enhancements and modularity for military-style weapons, and the implementation of day/night decamouflage technology for light weapons.

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What Are the Major Segments in the Defense Market?
The defense market covered in this report 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

Subsegments:
1) By Air-Based Defense Equipment: Combat Aircraft, Unmanned Aerial Vehicles (UAVs) or Drones, Air Defense Systems, Helicopters, Surveillance And Reconnaissance Aircraft
2) By Sea-Based Defense Equipment: Naval Vessels, Amphibious Assault Ships, Maritime Patrol Aircraft, Naval Weapon Systems, Mine Countermeasure Vessels
3) By Land-Based Defense Equipment: Armored Vehicles, Artillery Systems, Infantry Fighting Vehicles (IFVs), Military Trucks and Logistics Vehicles, Ground-based Missile Systems
4) By Defense Equipment Maintenance: Scheduled Maintenance, Unscheduled Maintenance, Technical Support Services, Logistics Support, Fleet Management
5) By Repair and Overhauling Services: Component Repair, Engine Overhaul, Avionics Repair, Structural Repair, Systems Integration and Testing

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What Are The Driving Defense Market Evolution?
One of the major evolving trends in this market is the increasing use of unmanned combat vehicles. These combat vehicles, which are self-driven machines or motorized vehicles, operate without any human physical interference. They are fitted with a plethora of sensors that provide 360-degree situational awareness, along with optical avoidance, steering actuators, brakes, and laser scanners. These features facilitate the autonomous or remote operation of these vehicles. These are primarily used to monitor the environments and relay that information to the operator either through teleoperation or independently tackle complex technical situations. For instance, in November 2022, the Indian military initiated a series of impromptu drone procurements using emergency capabilities. They spent as much as 3 billion rupees (approximately $36 million) on each initiative. The recent procurement included 1,000 unmanned surveillance helicopters, 163 high-altitude logistics drones, 750 remotely piloted aerial vehicles, and 80 diminutive remotely piloted aircraft systems.

Which Firms Dominate The Defense Market Segments?
Major companies operating in the defense market include Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corp, General Dynamics, The Boeing Company, BAE Systems plc, L3Harris Technologies, Leonardo SpA, Thales Group, Huntington Ingalls Industries Inc, Excel Laser Technology Private Limited, Acuity Laser Measurement, Prakash Laser, Infrared Optics, Kalaimakal Systems Private Limited, Baoding Triangel Rsd Electronics Technology Limited, Beijing Be-Better Technology Co., Ltd, Shanghai Zhangjiagang Baorui Machinery Co., Ltd, Guangzhou Blixun Electronics Co., Ltd, Xi'an Lonn M&E Equipment Co., Ltd, General Atomics Aeronautical Systems, Elbit Systems Ltd, AeroVironment, China South Industries Group (CSGC), China Aerospace Science and Industry Corporation (CASIC), China North Industries Group Corporation Limited (Norinco), Jilin Ruikd Medical Photoelectric Technology Co., Ltd, Changhe Aircraft Industries Corporation, Shenyang Aircraft Corporation, Babcock International, BMARC, BMT Group, CBI Explosives Industry Group, HSE explosives, Chemring Energetics UK Ltd, Orica UK Ltd, CES Advanced Composites UK Ltd, Conjay Collectors Ammunition Company Ltd, Societe Suisse des Explosifs, SSE Group, BIAZZI SA, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Russian Helicopters, Uralvagonzavod, United Shipbuilding Corporation, Advanced Composites Solutions, AEL Sistemas, Aeromot, Agrale, Airship do Brasil, Telespazio, ARSAT, Airbus SE, Saudi Arabian Military Industries (SAMI), Advanced Electronics Company, Abu Dhabi Ship Building (ADSB), DragonFly Aerospace, Armscor, Atlantis Diesel Engines, Atlas Aircraft Corporation, OneWeb

What Trends Are Expected to Dominate the Defense Market in the Next 5 Years?
The popularity of corner shot weapons is on the rise due to the safety advantages they provide. A corner shot is essentially a unique weapon accessory, which includes a hinged frame attached to a gun, such as a Glock, a Beretta 92, or a handgun. This hinged frame empowers the firearm's frame to fold around a corner and engage the enemy without risking soldiers' exposure. These weapons come equipped with a bore-sighted, high-resolution video camera, an LCD display, and an internal tactical light for guidance and lighting purposes. Corner shot guns or rifles are extensively utilized on battlefields, inside tanks and armored vehicles, and mounted on a turret, providing a complete 360-degree coverage while keeping the shooter secure within the vehicle. Depending on the weapon-type, the corner shot's accuracy and effectiveness extend from 100 to 200 meters.

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Which Is The Largest Region In The Defense Market?
Asia-Pacific was the largest region in the defense market in 2024. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the 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 Defense Market?
2. What is the CAGR expected in the Defense Market?
3. What Are the Key Innovations Transforming the Defense Industry?
4. Which Region Is Leading the Defense Market?

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