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Defense Support and Auxiliary Equipment Market on Path to Hit $211.13 Billion by 2029 at 7.4% CAGR
Defense Support and Auxiliary Equipment Market
Defense Support and Auxiliary Equipment Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size for defense support and auxiliary equipment has experienced robust growth recently. The market is projected to expand from its value of $149.09 billion in 2024 to reach $158.79 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.5%. Factors such as defense budgets, geopolitical stressors, maintenance and modernization needs, international terrorism threats, and peacekeeping missions are behind the historical growth in this sector.
What Is the Expected CAGR for the Defense Support and Auxiliary Equipment Market Growth Through 2029?
Expectations are high for robust growth in the market size of defense support and auxiliary equipment over the next few years. By 2029, projections estimate it will have ballooned to $211.13 billion, with a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this growth over the forecast period include emerging technologies, modernization initiatives, responses to climate change and disasters, global security issues, and international collaborations. Major trends expected to dictate the forecast period are electrification and lightweighting, use of advanced materials, additive manufacturing, increased digitalization and connectivity, as well as more collaborations and partnerships.
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What Are the Primary Drivers Behind Defense Support and Auxiliary Equipment Market Growth?
The augmentation in funding for defense is forecasted to power the expansion of the market for defense support and auxiliary equipment in the future. The term defense spending pertains to the financial assets that governments dedicate to their military forces and related operations. This allocation serves as the vital means for governments to invest in research and development ventures concerning defense support and auxiliary equipment. It further encompasses the expenses for the preservation, restoration, and enhancement of existing defense support and auxiliary appliances. For instance, data from the House of Commons Library, a government institution based in the UK, indicated that in December 2024, the UK's allocation for defense is projected to climb to £56.9 billion (around $70.5 billion) for the fiscal period of 2024/25, with a surge to £59.8 billion (approximately $73.9 billion) in 2025/26. Hence, the rise in defense spending is fueling the expansion of the market for defense support and auxiliary equipment.
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What Are the Key Segments Driving Defense Support and Auxiliary Equipment Market Growth?
The defense support and auxiliary equipment market covered in this report is segmented -
1) By Type: Military Radars, Military Satellites, Other Defense Support And Auxiliary Equipment
2) By Payload Type: Communication Payload, Navigation Payload, Imaging Payload, Others
3) By Application: Intelligence, Surveillance, And Reconnaissance (Isr), Communication, Navigation
Subsegments:
1) By Military Radars: Airborne Radars, Ground-Based Radars, Naval Radars, Space-Based Radars, Other Military Radars
2) By Military Satellites: Communication Satellites, Reconnaissance Satellites, Navigation Satellites, Earth Observation Satellites, Other Military Satellites
3) By Other Defense Support And Auxiliary Equipment: Military Communication Equipment, Military Sensors And Detectors, Defense Logistics Equipment, Military Transport Vehicles, Other Defense Support Equipment
What Are the Technological Trends Impacting the Defense Support and Auxiliary Equipment Market?
Leading businesses in the defense support and auxiliary equipment sector are focusing on the creation of domestically produced submarines to gain an upper hand in the market. A domestically produced submarine refers to a submarine that is designed, developed, and fashioned within the national boundaries, independent of any foreign technological or professional assistance. The submarine plays a vital role in defense auxiliary equipment, functioning as a shield for naval vessels and other properties from antagonistic maritime offensives. In September 2023, Taiwan, an East Asian nation, inaugurated its inaugural domestically manufactured submarine, marking a significant progression in substituting outdated naval capabilities. The diesel-electric assault submarine, christened Hai Kun in honor of a mythical fish from Chinese mythology, was introduced in Kaohsiung, a southern city, at the CSBC (China Shipbuilding Corporation) Shipyard. The submarine is fitted with advanced sonar systems, unified combat systems, and auxiliary equipment systems, including periscopes.
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Who Are the Major Competitors in the Global Defense Support and Auxiliary Equipment Market?
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.
Which Region Dominates the Defense Support and Auxiliary Equipment Market Share in 2025?
North America was the largest region in defense support and auxiliary equipment market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the defense support and auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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